Pay less tax

Teach your child how to pay less tax

Show your child how to invest like Warren Buffett. Use a tax-FREE account. Earn over 11% a year just like Mr Buffett. Use a special IRS account and grow $20,000 into $1 million tax FREE. A picture is worth a thousand words.   

The Picture Book of Wealth: How to save and invest in pictures and stories

http://www.amazon.com/Picture-Book-Wealth-pictures-stories/dp/150030025X

Warren Buffett’s secret to wealth:

Compound high earnings over time. Some clients’ use these low-cost Vanguard funds and receive over 12% a year. So far 2014 is on track.

2014 Total Return       Fund                Long-term Return*  

  7.1%                          500 Index                    11.1%*            since 1976

14.1%                          Energy                         12.8%              since 1984

  6.1%                          Extended Market Idx   11.3%              since 1987

14.5%                          Health                          17.3%              since 1984

  2.3%                          International Growth   11.1%              since 1981

  9.9%                          PRIMECAP                 13.8%              since 1984

  6.5%                          Small Cap Index          10.9%              since 1960

  5.9%                          Wellesley Income        10.2%              since 1970

  8.9%                          Windsor                      11.6%              since 1958

  7.6%                          Windsor II                   11.2%              since 1985

  8.3%                          Average                       12.1%

*Average Annual Returns as of 6/30/14.

Learn more: http://www.amazon.com/Warren-Buffetts-Investment-Secret-Steeple/dp/1484189809

Could your IRA beneficiaries lose their inheritance?

Yes, they can and did for one man who named his legal will instead of his kids as beneficiary. His kids fought in court to recover the money, but the court awarded the $400,000 in the IRA to their father’s wife (married just 2 months). Check your will and retirement plan NOW: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

More tax evaders and cheats

Illinois gave Walgreen $46 million in tax credits in exchange for a pledge to create 500 jobs and invest in upgrading its offices. The state also provided $625,000 in training money and $875,000 in other tax incentives. Now CEO Wasson says Walgreen is denouncing US citizenship. The same chief executive who said he was so “proud of our Illinois heritage” is now moving the company’s headquarters to Switzerland as part of a merger with Alliance Boots, a European drugstore chain. WAL also reaps $ billions directly from the government; it received $16.7 billion from Medicare and Medicaid last year. Go tax-FREE before you have to pay for Walgreen’s share: http://www.amazon.com/Go-Tax-FREE-Investing-Income-Forever/dp/1482633280

“So sue me” Obama tells critics of his “do something” strategy

“Middle-class families cannot wait for Republicans in Congress to do stuff," Obama said.  "So sue me.  As long as they are doing nothing, I am not going to apologize for trying to do something.”

Gun-totters not welcome by businesspeople: Why?

Guns on humans are deadly
Starbucks, Chipotle and now Target all quietly ignored their armed patrons at first, but eventually asked customers to leave their guns at home. Many restaurants, bars and theaters are quietly Tombstoning their places. Even the OK Corral gunfight site bans the real things. Wyatt and Doc were initially charged with murder unlike Zimmerman. Actually, Tombstone has a higher crime rate NOW with all the packers than in Wyatt’s 1880. Lead kills.

GOP Crazies

Conservatives are learning the lesson of the 20s again—when you cut taxes for the rich, revenue and jobs go DOWN, not up. Kansas is in their 2^nd year of learning that giving the wealthy more does NOT produce jobs—it produces more wealth. The wealthy don’t hire people when the have more money—they hire when there is demand. And then they use “other people’s money”—banks—to expand. They don’t risk their own money on a not-sure-thing—the economy. Only venture capitalists do that. And they are not in Kansas anymore. Cutting taxes leaves the state roads and schools worse off and no capitalist wants to live in such a community. How many times do they have to learn this?

Presidential Candidate cut taxes to rich and now steals state worker money

His record as fiscal steward has been dismal. Time and again, he has used dubious strategies to avoid raising taxes (sparing him from inevitable criticism by party conservatives), even when increasing taxes would be the right thing to do. Such tactics have not helped the state. New Jersey’s bond rating took another hit when Mr. Christie, facing a big budget shortfall, rejected the usual remedies — cutting costs, borrowing money or raising taxes — and instead cut state contributions to the public employees’ pension fund. Christie won office on promise to STOP doing what Dems do—AND blew $ millions on Bridgegate cover-ups and his son’s game helicopter.

Supremes reverse Constitution on religious freedom!

5 Old White Men support religious bias—to control certain women and births—just like in the Nazi period and in the Muslim world today.

The decision means employees of those companies will have to obtain certain forms of birth control from other sources.

"Congress shall make no law respecting an establishment of religion, ...".  GOP “small” government decides our birth control choices. Next—color and sex of children we can have?

Constitution reversed—employees must live according to corporation’s religion.

Two Americas: one for employees of your favorite religious views and one for employees having freedom of religion. The majority of Americans oppose letting employers, based on their religious views, exclude certain contraceptives from workers’ insurance coverage. Before Scalia & Co, the court specifically held before that “[W]hen followers of a particular sect enter into commercial activity as a matter of choice," they cannot superimpose their “conscience and faith” onto laws that everyone else must follow. Now they can and every corporation will use this loophole!

Our Constitution formerly guaranteed religious freedom for ALL not just GOP. The women Supremes dissented: “decision of startling breadth.” Changes America.

Supremes help GOP “small” government break the unions

Supreme Court said personal home-care employees cannot be forced to pay dues to a union. In a 5-4 ruling, the Supreme Court said personal home-care employees cannot be forced to pay dues to a union. Unions will soon be out of business and employees will have to take whatever employers offer.

Supremes halt suit against terrorists’ supporters

Thousands of victims of the 9/11 terror attacks have lost their bid to revive a class-action lawsuit for allegedly providing material support to al Qaeda. Among the defendants are al-Qaida, its members and associates, along with charities, banks, front organizations, terrorist organizations and financiers. Among those dismissed were four bin Laden relatives who purportedly managed the Saudi Binladin Group, one of the largest companies in the Arab world. Gee, could oil be involved?

Insurers flock to FL to sell ObamaCare 2015

About a dozen health insurers filed documents by Friday's federal deadline indicating they intend to sell marketplace plans in Florida next year. The list includes returning big players like Florida Blue, Aetna, Cigna and Humana, as well as United Healthcare, which did not participate in the marketplace this year. Each insurer can sell multiple types of plans, and rates can vary across the state. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Hospitals now paid to keep people OUT of ER

Hospitals now get penalized if you come back to the emergency room too frequently and if a hospital isn’t meeting certain patient quality and health outcomes and insurers are following the same mold too. Insurers no longer want to pay for hospitals that are just doing more and more test and procedures over and over again and they want to be paying for quality so hospitals are going to be held accountable if patients are too sick if patients are coming to the emergency room too frequently.

1.5 million worker’s retirement plans at risk—check yours

Retirement plans covering roughly 1.5 million workers are severely underfunded, threatening benefit cuts for current and future retirees, a federal watchdog agency warned. The Pension Benefit Guaranty said multi-employer plans, which are collectively bargained retirement plans maintained by more than one employer, are most at risk. "Plan insolvencies ... are now both more likely and more imminent than in our last report," the report said. At the same time, the agency said single-employer pension plans — covering just over 30 million participants — are on firmer financial footing and are likely to remain so at least over the next 10 years. Check your plan: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Surprises in 2014 initial quality ratings for new cars

Korea has more contenders this year. http://autos.jdpower.com/ratings/quality.htm

Buy American-made—Camry, Honda, Toyota, F-150. Fewer and fewer even qualify as partly “made in America.”  Jobs went overseas.

SCAMS           Why are we still paying $700 Billion a year for WWII deployments?

We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.

Are we preparing for WWII again? There are 1,208,083^[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

We just can’t afford to pay for everyone else’s defenses anymore.

Japan, Germany and S. Korea can pay for their own defense.

$70 Billion wasted ammo—Arms dealers benefit

The Government Accountability Office found that the military's poor tracking of its $70 billion worth of conventional ammunition had left it with an extensive stockpile destined for destruction, including some munitions that could still be used by troops. For instance, the GAO found instances in which troops retrieved workable missiles from its scrap heap to meet their needs. Another problem: the services' inventory systems cannot share data directly despite working for decades to develop a single database.

Big Brother testing its power

Facebook manipulated the emotions of hundreds of thousands of its users, and found that they would pass on happy or sad emotions, it has said. The experiment, for which researchers did not gain specific consent, has provoked criticism from users with privacy and ethical concerns. For one week in 2012, Facebook skewed nearly 700,000 users’ news feeds to either be happier or sadder than normal. The experiment found that after the experiment was over users’ tended to post positive or negative comments according to the skew that was given to their newsfeed. What Zuckerberg does for fun?

GM recalling rest of products

½ million more cars and trucks back to dealer. Service your own car now. Dealer full.

CEOs $ millions in pay enabled by his/her friend-directors

New study shows when corporation board consists of CEO friends, they cut future development to give boss an unearned raise. And it makes no difference if the shareholders know it--Directors paid by CEO. Even the Supremes have sided with the CEOs against shareholders’ ability to sue as a class.  

Both sides of his mouth

Senator Rand Paul has warned Republicans of being too close to rich people, but he is also hoping to pick up some of Mitt Romney's Wall Street donors. “We cannot be the party of fat cats, rich people, and Wall Street,” the Kentucky Republican told the audience at the Freedom Summit in New Hampshire in April. “Corporate welfare should once and for all be ended” [“--Except for me.”]

At the same time, the founders and employees of Mason Capital Management, a $13.6 billion New York hedge fund, have become leading contributors to Paul’s political aims. Company co-founder Kenneth Garschina has also given $250,000 to America’s Liberty PAC, a so-called super political action committee run by longtime supporters of Paul. In all, 17 of the company’s 33 employees have given at least $75,000 to Paul and funds he controls since he started his first U.S. Senate campaign in 2010.

Who owns your account now?

Conseco Life to Wilton Reassurance

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Tax refunds worth $400,000

Your tax refund can be worth $400,000 in 25 years. Really?

The average tax refund is $3,022. Invest your refund in a tax-FREE account for 25 years and you can retire. Invest for only 30 years and accumulate $700,000. That is the power of compounding.  http://www.amazon.com/Your-Wealth-ReserveTM-Tax-FREE-Investment/dp/1484954882/

Can we “work till we drop”?

In 1880, as many as 80 percent of men age 65 and older were still working. But incomes rose in the 20th century, giving people the freedom to retire earlier. By 1985, only 16 percent of men 65 and older were working. Ever since, the pendulum has been swinging back. Congress outlawed mandatory retirement in 1986 for most workers, and Social Security benefit calculations were changed to make retirement and delayed retirement equally beneficial. Many have had to start benefits at age 62 due to illness or structural unemployment. A spouse may have to work longer to maintain current spending levels. Retirement planning may help: http://www.amazon.com/Your-Retirement-Budget-Investments-Income/dp/1483946487

Will schools be teaching your kids how to handle money soon?

The feds have provided money lessons for each grade so your child’s teacher can use them in classes on different subjects. The lessons are relevant to the ages. EG: how much do you have to earn to buy a skateboard if you have $88 already? How much inflation if gas prices rose 20cents? http://www.moneyasyoulearn.org/ Compliment site is http://www.moneyasyougrow.org/.

For your graduate, our Simple Financial Life has it all: http://www.amazon.com/Simple-Financial-Life-paycheck-paycheck/dp/1441499326

New cars initial quality survey led by American manufacturers

Total Quality Index was calculated from 17,568 buyers who purchased 2013 models during September to November 2012. The following list contains the number one ranked vehicles in Total Quality in their segments as rated by new vehicle buyers: http://www.strategicvision.com/press_release.php?pr=45

Is a ‘pension advance’ right for you?

“These pension advances appear to be nothing more than payday loans in sheep’s clothing. ‘Pension advances' – which are financial products that allow companies to harvest a retiree's pension payments in exchange for a lump-sum payment that amounts to just pennies on the dollar. NY regulators sent subpoenas to ten companies engaging in pension advances. “These companies are literally harvesting the-hard earned pensions of seniors, military veterans and other hard working New Yorkers,” said Governor Cuomo. “Using deceptive practices to cheat people out of their pensions by enrolling them in backdoor high-interest loans will not be tolerated in our state. Anyone seeking to prey on New Yorkers should know that we will use every tool at our disposal to aggressively pursue and put stop this fraud.” http://www.governor.ny.gov/press/05132013Power-Proceeds-Allocation-Board-Recommends-6Million-WNY

FL protects all people FROM annuity salesmen

Florida’s House of Representatives passed legislation to expand consumer protection laws regarding life insurance annuity sales to all buyers, instead of those who are 65 and older. "Anything that helps remove bad actors and protects consumers is a good thing," the sponsor says. Which annuity may help you: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

Are your 401k dollars enough?

According to a Deloitte survey, 401(k) balances have reached an all-time high and now average $85,000.  "More still needs to be done to help employees adequately prepare for their individual retirement needs." If you convert it to income, it is pitifully low! On average retired and pre-retired Americans report they've lost $117,000 in retirement savings due to unanticipated events like medical emergency. $85,000 may grow to $750,000 using a Tax-FREE investment account: http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

Deficit could be paid if IRS went after super-rich offshore accounts

The rich are hiding $32 Trillions. If they paid their fair share—just 30%—like us, we wouldn’t have a problem. They have their money in legal loopholes created by our so-called ‘representatives’ in Washington. There is more than enough to cover the deficit and the Social Security and Medicare shortfalls. And while the Congress is at it, they can ask the corporations to pay their fair share. HALF of our corporations pay NOTHING. When these people get kidnapped from their yachts, they don’t call the seal team from Lichtenstein or the Caymans, do they?

http://www.businessweek.com/articles/2013-05-02/the-super-richs-offshore-tax-avoidance-strategies

Is a “deferred income annuity” right for you?

These contracts used to be called deferred annuities—but they have been re-hyped by the marketing department. Sometimes referred to as a longevity, deferred payout or advanced life-delayed annuity, the DIA pays income to the policyholder starting at least 13 months from the policy date. Whereas the immediate income annuity is appropriate only for those looking for income starting immediately, the deferred income annuity would appeal to someone in need of guaranteed income later.

For the majority of owners, the income is never used so these contracts are passed to heirs who must pay tax on the earnings at their (the heirs’) higher rate. Some contracts cost the owners 2-3% a year for benefits they never use. Commissions can be as high as 8% of your deposit. These are really expensive tax deferral mechanisms that are costly to cancel. There are alternatives: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

SCAMS           “Deficits don’t matter” GOP grandfather, Dick Cheney, 2002

Executive Life gives up its money finally.

Some policyholders will not get the full amount of their annuities. Benefit reductions will begin to occur soon. A court decided that liquidation can begin, including activating the participating insurers in the state guaranty funds, pledging more than $100 million to a special hardship fund, and topping off state guaranty funds and covering “orphan contracts” in states where ELNY was not licensed. The National Organization of Life & Health Guaranty Funds (NOLGHA) said it is pleased with the decision that all challenges to the liquidation restructuring plan have been removed, and is looking at a third quarter unwinding of the estate. Some have waited over 20 years for their money back.  http://www.lifehealthpro.com/pages/the-complete-elny-saga.php

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Why pay more taxes than the wealthy do?

Zero Tax Account: Why Pay More Taxes than the Wealthy Do?

What is your fair share? The wealthy pay as little as 13%. 2/3 of corporations pay NOTHING even though the law says they pay 35%. We are paying for US troops in 150 countries so the countries don’t have to. We are still stockpiling missiles and fighters at $80 Billions. We have already spent $3.7 Trillion on these two wars we did not have the money for.  

Now they want to cut our Social Security and Medicare account benefits.

Is it time you started paying your fair share—ZERO tax on all your future investment earnings? With the cuts, you shouldn't pay taxes too. Open your legal account today:  http://www.amazon.com/Your-ZERO-Tax-Account-Wealthy/dp/1482772795/

Are you paying more tax than Apple, Google, Facebook?

Yes, you probably are. They pay under 10% using legal tax avoidance tactics you can’t use. Over a four years period from 2008 to 2011, 26 companies managed to avoid paying any American income taxes, even though they earned $ billions during that time, according to research done by Citizens for Tax Justice.

IRS has $917 million in unclaimed 2009 tax refunds

You would think they could give me back my payroll tax hike with all this extra money sitting around. What about 2010 and 2011 refunds?

Also there's currently more than $58 billion in unclaimed money floating around in the form of abandoned bank accounts, stock holdings, insurance payouts and pension benefits. The states have most of that money and they cry about no money too. http://www.foxnews.com/politics/2013/03/14/17m-in-unclaimed-tax-refunds-to-expire-april-15/

Is the IRS cutting audits like the White House is cutting visits?

You bet.

However the IRS computer searches out mismatches in various categories. See if you could be making it easier for them to find you.

http://portal.kiplinger.com/article/taxes/T054-C000-S001-irs-audit-red-flags-the-dirty-dozen.html

Drinking may cost more than your drink

The price of car insurance for a Florida driver will almost double the first year after a driving under the influence conviction and will go up an average of $5,525 over seven years, according to a new study. Just in the first year, Floridians' insurance will jump 86 percent on average after a DUI conviction, with premiums spiraling to $3,072 a year, from $1,650, according to an insurance comparison website. Shopping may help you lower your premium: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

US lags other countries in average old age …. due to gun play!

 Life expectancy in the United States is lower than in nearly every other developed country. "We die more at younger ages," says Jessica Y. Ho, whose study of the gap in mortality for those under age 50 was published this month in Health Affairs. For men, those younger deaths accounted for 67 percent of the shortfall in U.S.life expectancy compared with an average of 16 other high-income nations. For women, it was 41 percent. For men, nearly a fifth of the excess mortality was due to homicide. Transportation injuries, mainly car crashes, was close behind, followed by other injuries -- particularly drug overdoses. Perinatal mortality, such as pregnancy complications and birth trauma, accounted for 13 percent, cardiovascular diseases made up 8 percent, and other chronic conditions, 10 percent. Also contributing: suicide (4 percent), HIV (2 percent), and other communicable diseases (2 percent). Mortality per miles driven is no higher here than in 15 other wealthy countries. Americans simply drive more. Americans who made it through their younger years arrived at old age very, very healthy.

Will teachers help students understand using money?

The new financial literacy standards establish benchmarks for what kids should know by the end of grades 4, 8, and 12. They are broken into six personal finance categories:

• Earning income This includes collecting rent, stock dividends and interest on bonds. It also includes a discussion of the labor market and how education may lead to higher wages.
• Buying goods and services This includes planning, comparing, budgeting and making choices.
• Saving This includes near- and long-term goals and how time, interest rates and inflation affect savings.
• Using credit This includes borrowing options and how credit history helps determine availability of credit and the rate of interest that you pay.
• Investing This includes risk, rates of return and diversification.
• Protecting and insuring This includes potential loss of health, assets, income and identity, and how behavior affects the cost of insurance.
  Read more: http://business.time.com/2013/03/12/coming-soon-new-standards-for-teaching-kids-about-money/#ixzz2Ntvaq7uB

USAA, State Farm Top in Customer Experience

Temkin Experience Ratings includes 14 insurance carriers. It evaluates three areas of customer experience:functional (can customers do what they want to do), accessible (how easy it is to work with the company), and emotional (how consumers feel about their interactions). 21st Century and Liberty Mutual were the lowest rated insurers. The Hartford and 21st Century had the largest decline from 2012, losing seven percentage points. http://experiencematters.wordpress.com/2013/03/18/usaa-and-state-farm-lead-insurance-industry-in-2013-temkin-experience-ratings/

Do women know more about car insurance than men?

One survey says, “yes” but both know very little about their coverage.http://www.autoweek.com/article/20130311/carnews/130319981

Does your advisor get to keep more of your fees?

Advisers with Raymond James Financial Services who have at least $100 million in discretionary assets under management can choose to retain 100% of their advisory fees and pay a quarterly fee based on assets under management, instead of the traditional payout on fee revenues they produce. Raymond James will charge six basis points 0.06% on the first $100 million under management, three basis points on the next $100 million,one basis point (0.01%) on assets between $200 million and $300 million, and nothing after that, for a maximum of $100,000 per year.

So now we know what it really costs to manage your funds.

Vanguard has fees as low as 0.05% so we can skip the advisor fees of 200 basis points.http://www.amazon.com/Your-Investment-Edge-Tax-FREE-Account/dp/1482695677

Are you in the crossfire of the ETF price wars?

Fidelity allows advisors to trade 65 iShares exchange-traded funds without paying a commission on the Fidelity platform, up from 30. However, in offering the 65, Fido took away the 10 most used by advisors. Another beef is a $7.95-per-trade exit fee Fidelity will charge investors who sell the commission-free ETFs within 30 days of buying them. For advisers, the fee kicks in if an ETF is sold within 60 days. When it says 'FREE' you must look at the mouse print for other fees to make up for it.

Young investors MORE wary of advisors, survey says

“Surprisingly, the millennial generation has emerged from two boom-and-bust cycles even more conservative about investing and more skeptical of financial advice than the generations that were hit hardest by the market,” said Alex Pigliucci, global managing director of Accenture Wealth and Asset Management Services.

“Generation D,” a swath of investors 75 million strong that cuts across so-called millennials, Generation Xers and the baby boomers, poses a “a fundamental challenge” for advisors who want a piece of what has often been called the largest wealth transfer in history, Pigliucci said.

The internet has made investing directly more likely: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

How was your advisor trained?

Advisors are trained to make sales to you. You are sold what their firm has to sell when you seek help from your banker, broker, agent or advisor. Salespeople are required by their employers to follow the rules. Sell this, Say that, Do these things. Choices are gone. Their employer wants everyone to fit the mold—for the firm profit and protection. Read how they are trained: http://dealbook.nytimes.com/2013/03/02/selling-the-home-brand-a-look-inside-an-elite-jpmorgan-unit-2/

Largest pension fund finds advisors are just not worth the expense?

In the latest sign of the apocalypse for active management, the largest pension fund in the United States is mulling a move to an all-passive portfolio. The California Public Employees Retirement System's investment committee is evaluating whether the fees it pays its active managers are worth it or if paying less fees for passive management will lead to better long-term results. Experts say that at any given time, half the managers are ahead of the market and half are behind. Net result is the average less the fees. Members have already discovered this trend: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

What does your retirement budget look like? ACT NOW

57% of U.S. workers have less than $25,000 in total household savings and investments, excluding their homes.  28% said they have no confidence that they will have enough money to retire in comfort, the highest level in the 23-year history of the EBRI study. Only 66% report having any retirement savings, compared to 75%  of workers in 2009.
Many workers (41%) named cost of living and day-to-day expenses as their top reason for not contributing more to their employer’s retirement plans. Only 46% said they have calculated what they would need to save in order to live comfortably in retirement, EBRI says. Average worker incomes have fallen since the 1970s by 7% in real wages. Social Security benefits may last to 2033. “In 2033, incoming revenue and trust fund resources will be insufficient to maintain payment of full benefits,”   . Treasury Secretary Tim Geithner, said, referring to Social Security.  “At that point there will only be enough money to cover about  three-fourths of full benefits.”

http://www.cbpp.org/cms/index.cfm?fa=view&id=3860

Big Bang confirmed—the entire universe came from a speck—The First Miracle
New data says the visible portion of the universe was smaller than an atom when, in a split second, it exploded, cooled and expanded faster than the speed of light. The Planck space probe looked back at the afterglow of the Big Bang, and those results have now added about 80 million years to the universe's age, putting it at 13.81 billion years old.

The Second Miracle:

Even Mrs Bachmann was created from that tiny speck: "Let's repeal this failure [ObamaCare] before it literally kills women, kills children, kills senior citizens," Bachmann said on the House floor. 

Even Rand Paul who thinks Obama would kill Americans with a drone was created by a Miracle

SCAMS           “Deficits don’t matter” GOP grandfather, Dick Cheney, 2002

“Entitlements”—our Social Security and Medicare money—did not produce the deficits

Chaney/Bush wars cost $3.7 Trillion and counting

http://www.reuters.com/article/2011/06/29/us-usa-war-idUSTRE75S25320110629

Another DANGER sign ignored—taxpayers set to bailout banks again!

U.S. House lawmakers advanced legislation that would ease Dodd-Frank Act derivatives rules and give banks greater ability to trade swaps overseas. It allows trading of almost all types of derivatives by units of banks that hold government-insured deposits. A separate bill would restrict U.S. regulators’ ability to apply rules to overseas transactions.  “It is incredible that less than a week after new JPMorgan Whale hearings detailed how the bank’s London office piled up risk, hid losses, and dodged regulatory oversight, that some House members are again supporting the weakening of derivative safeguards.”

Chase lost $6.2 billion on derivatives but still does not know how

"There's a lot of evidence that they are maybe too big to manage," Sen. Levin said in a press briefing Thursday morning. But "our focus," he said, "is on the danger of derivatives which are not regulated properly." Regulation may not be possible and we may be asked to bail out another disaster.http://www.cnbc.com/id/100553551

Big banks cannot be regulated and will cause another bailout—HOW?

The emails presented by the Senate report show that JPMorgan did not follow their own guidelines and limits to control their traders. There is no accountability. Banks can just lie to the regulators and pay a fine if they are caught. Meanwhile they are betting your money in risky ways most regulators don’t even understand. They know we will have to bail them out no matter what happens. No one wants the system to crash. Read and weep.

http://www.nytimes.com/2013/03/17/business/jpmorgans-follies-for-all-to-see-in-a-senate-report.html?pagewanted=all&_r=0

Investors 'aghast' as Cyprus to siphon cash from retail bank accounts

Levies of up to 12 percent part of bank rescue plan; citizens of divided nation united against scheme. Cyprusvoted down a controversial bank bailout deal.

U.S. Companies Stashing More Cash Abroad As Stockpiles Hit Record $1.45T

U.S. firms keep 58% of their cash, or $840 billion, overseas. Companies are hording cash overseas to avoid paying taxes. They are not using the cash for development, hiring, expansion in the US since it is more profitable to grow in global new markets. Of course they expect US forces to rescue them if their plants or executives are attacked around the world. However, they don’t want to pay their fair share to support USpresence where they are expanding.

Wealthy moving to Puerto Rico—ZERO tax on capital gains

PR’s new tax system allows new residents to pay no local or US federal taxes on capital gains. Hedge fund managers are starting to house hunt in Condado and put their kids in private St. John’s School. We will need to pay for the 23.8% they would have paid here. They will still be protected as US citizens but don’t pay for USmilitary protection. We pay the taxes for them.

IAN

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Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

THE FACTS OF FINANCIAL LIFE

Keep YOUR kids out of debt! Explain the FACTS OF LIFE now!

You can help your kids stay out of debt and reach all their goals in life by explaining the FACTS OF FINANCIAL LIFE. You can do this only if you know the answers to these two questions asked of 12th graders. These questions were asked of participants in the JumpStart Coalition on Personal Financial Literacy.

Which of the following tends to have the highest growth over long periods, say 18 years?
a) A checking account.
b) Stocks.
c) A U.S. savings bond.
d) A savings account.

At age 25, Mary began investing $5.56 per day, $2,000 a year. At age 50, Rob started saving $4,000 a year. They now are both age 75. Who has more money saved for retirement?
a) They each have the same amount.
b) Rob, because he saved a bigger amount each year.
c) Mary, because her money grew for a longer time at compound interest.

If you correctly answered "b" and "c," you did better than most of the nation's high school seniors. Most got them wrong. A Schwab survey found that while 70 percent of parents had taught their kids how to do laundry, only 19 percent had explained how to invest money to make it grow.

It is not difficult to learn these lessons. In fact, our members have found the pictures and charts in our FREE Guide make it easy to explain the FACTS OF FINANCIAL LIFE. Try it yourself for FREE at www.theinsidersguides.com/freeguide.html

It is a curious thing that our representatives in Washington have not found on a financial literacy course for our schools after 220 years. According to John Adams:

"All the perplexities, confusion and distress in America arise, not from defects in their Constitution ... not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation."

By the way, Mary will have about $6.5 million and Rob will have about $630,000 using a tax-free low-cost broad market index account.

Drop your insurance: Buy only what you need

This is not what you usually hear from an insurance person. However, a new way of buying insurance and all financial services has arrived.

Based upon the model used by businesses, this approach builds on the trend of more of us who must manage our own pensions--401k, 403b and IRA accounts. Even though many of us say we don’t want to manage our own financial futures, we will be better off in the long run.

We are being forced to self-direct all our financial products. Our agents, bankers and brokers have all moved on. Typically, we practitioners of this new “self-insurance” model use our savings to build up our own reserves. This “Wealth Reserve” as I call it is a self-insurance fund I use to cover many risks so that I don’t have to buy a policy for every risk. I built a sizable reserve by buying products “wholesale.” I invest the savings.

Businesses have been doing this for a long time. For instance, most large businesses do not buy health care like we do. They buy it “wholesale.” They pay the claims from their own account. The insurer acts as the administrator—following the employer’s plan to decide it your claim should be paid. The business funds the claim account only to the extent necessary to pay claims. The insurer makes a fee for processing.

This costs the business less because the money to pay the claims is actually part of the working capital of the business. It is not sitting in an insurer’s investment account paying interest before it is needed to pay claims. For large claims, like brain surgery or death, the business buys catastrophic insurance. Some companies have their own (captive) insurer (reserves) to save even more.

How can you use this example? Let’s take homeowner’s insurance. Did you know that many agents purchase the standard HO-3 homeowner’s policy for their own coverage, but with a $2,500 deductible? That policy takes care of 99% of the claims and saves them 20-30% a year. They understand that they need to maintain the property to prevent it from deteriorating faster than it needs to. But by investing that 30% savings each year, they build a Wealth Reserve that earns them interest and will cover the deductible if they ever need it. So, over 10 years, they save $2,000 in premiums and earn interest on the funds.

Taken together for all your risks, you can build a large Wealth Reserve. For instance, we have helped people save over $3,000 a year on financial services, including banking, mortgage, education, mutual funds, securities, annuity, insurance—life, health, disability, long term care, vehicle, homeowner’s, lawsuit, vehicle purchase, legacy, wealth transfer, retirement spending . . . almost any service. Over time, those savings will compound to a $500,000. This fund can be used to pay for your insurance, retirement, and health care needs. Some clients plan to save $120,000 on long-term care insurance this way. Others have dropped their life and disability insurance—placing the premium in investment accounts that compound at the market rate over time.

When I was just 22 and working part-time during college, I was induced to buy permanent life insurance. I later cancelled it when I could not afford the $1200 annual premiums. I was in grad school and taking out loans to finish an MDiv. The agent representing Columbus Mutual probably earned all of that $1200 in the first year. I got little back when I couldn’t make the payments.

The agent did not explain that I would be better off buying a mutual fund instead of insurance. This was probably 1970. By the end of the 1960s there were around 270 funds with $48 billion in assets. No one advised me to invest in mutual funds at that time. My high school and colleges mentioned nothing about the miracle of compounding $1200 a year in a mutual fund at the average market rate of 12% per year. I think I would have paid attention if someone had told me it would be worth $1 million by the time I was 60.

1970 $ 0
1980 $ 23,233.91
1990 $ 99,914.79
2000 $ 352,991.38
2008 $ 933,673.59

There are few financial literacy programs in high school or college even today. Consequently, even in 2006, the Jumpstart Coalition for Personal Financial Literacy found that half of high school seniors failed to answer basic money questions. Schools don’t teach basics of saving, investing, compounding, and getting what you want, so parents are expected to. This leaves the blind leading the blind. Parents teach spending but few are role models in investing with compound interest. The subject we miss but need the most is about investing in the market. 86% of young people got it wrong. It is no wonder the U.S. savings rate is negative.

For Example, question 26. Kelly and Pete just had a baby. They received money as baby gifts and want to put it away for the baby's education. Which of the following tends to have the highest growth over periods of time as long as 18 years?
44.8% a) A U.S. Govt. savings bond
34.8% b) A savings account
6.3% c) A checking account
*14.2% d) Stocks
* correct answer is d. Ibbotson Associates data: Stocks average 11.4% per year, bonds 5%, CDs 3% over time.