Tax evasion cost us $3.09 TRILLION

Tax Evasion over Last Decade Cost US $3.09 Trillion 

GAO report cites many offshore tax evasion programs for individuals to try to collect taxes from Americans hiding funds in other countries. Multinational firms can artificially shift profits from high-tax to low-tax jurisdictions using a variety of techniques, such as shifting debt to high-tax jurisdictions. Since tax on the income of foreign subsidiaries is deferred until repatriated, this income can avoid current U.S. taxes and perhaps do so indefinitely. Corporations used to pay 40% of government revenue, now 10%. The payroll tax (on working people) has gone from 5% to 35%.  Stop paying the corporate share. Use your FREE tax haven: http://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

American democracy headed back to Robber Baron days

Forbes released its annual list of the 400 wealthiest Americans. They’re worth a combined $2.29 trillion (up $270 billion from last year) – a 13 percent increase. These 400 billionaires now own more wealth than the bottom half of America – over 150 million people. Meanwhile, while the very rich become richer, most Americans have become poorer. Median family income has declined by almost $5,000 since 1999 and over half of the American people have less than $10,000 in savings.

Do you live in one of the lowest pay cities in US?

The working poor class is growing in Orlando, which has the lowest median pay among the 50 most-populous American metropolitan areas. Three of the city’s largest employers, including Walt Disney, increased starting pay this year. Even after Disney raised its minimum wage to $10 per hour, many employees live below the federal poverty line. Leisure and hospitality jobs make up about 20 percent of the labor force but are low pay. Many workers can’t feed families on $25,000 a year. Orlando is now the most-visited U.S. tourist destination, yet 40 percent of jobs in Orlando pay less than $25,000 per year. A local economy dominated by low-wage jobs has caused fiscal troubles for cities as well as among wage earners. Orlando lifted property taxes by 17.7 percent last month to close a $17 million budget hole next year. It joins low-wage cities like Atlantic City, New Jersey and Memphis, Tennessee, struggling to cover rising costs. Tourists like cheap labor but hate crumbling infrastructure.

How can this trend be reversed?

With the Citizens United Supreme Court decision, the wealthy can now buy elections like they did in the early 1900s, before campaign contribution regulation. Wealthy activists are supporting GOP states like OH, NC, AL, TX, KS, TN, WV, GA, ME, WI, FL where voter suppression has been institutionalized. The state governments are passing new laws to require 3 IDS, limit voting times and days, destroy voter registrations and absentee ballots, require passport picture IDs, etc, just like in Russia.

Could a foreign country using a dummy corporation buy an election?

Yes, it is possible now since contributions NO LONGER have to be disclosed to anyone.

ObamaCare enrollment starts Nov 15.

Your may want to check the insurance company ratings from Consumer Report.

Each state list with score ranking of each plan, as well as patient satisfaction ratings, and performance evaluations. Shop online or phone https://www.healthcare.gov/

Can you find a new car for under $20K?

Edmunds did the research for you. Even though new cars can lose 40% of their value in 3 years, you might find one of these with zero financing now. Or take last years’ models for spin and save $10K. Some have great reliability and gas mileage. Lower insurance too.

https://autos.yahoo.com/news/5--a--rated-2014-sedans-from-edmunds-that-cost-less-than--20-000-171013455.html

Buy only what you need—skip the double coverage you already have: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Are stock market forecasters right for you?

When your advisor/broker gives you their ideas/recommendations they are really forecasting the future. Consider what recently happened to one of the best fortune-tellers. Investment giant Pimco’s CEO Bill Gross, considered the bond guru of the age, just walked out of his job of 43 year. In 2011, he became a deficit hawk, declaring that low interest rates were “robbing” investors. He pulled many of his investors out of U.S. debt instruments. He predicted a spike in interest rates when the Fed ended a program of debt purchases in June 2011. He was completely wrong, and neither he nor Pimco ever recovered.

Did Wall Street learn from this bad fortune-telling? NO. People who were predicting soaring inflation and interest rates five years ago are still predicting soaring inflation and interest rates today, vigorously rejecting any suggestion that they should reconsider their views in light of experience. Listen to Warren Buffett who actually runs businesses: "The only value of stock forecasters is to make fortune-tellers look good."

Use the Best Predictor of Investment Success: http://www.amazon.com/The-Best-Predictor-Investment-Success/dp/1502524082

GOP crazies

Rep. Michele Bachmann and Hunter predicted that ISIS members are planning imminent attacks inside the U.S. and will make American cities experience levels of violence seen in Iraqi cities like Baghdad. After arguing that ISIS members are entering the country as they illegally cross the southern border and “march through our United States airports,” Bachmann made the false claim that “President Obama released Baghdadi,” referring to ISIS leader Abu Bakr al Baghdadi. In fact, he was released during the Bush administration. “I don’t want to see the car bombings and all of the havoc and chaos coming to the United States that we see in Baghdad,” she said. “Since we have the Islamic State come into the United States, we’ll see a wave of car bombings and bombings that occur here in the United States that would begin the process of destabilization to bring them to the point of defeating us here in the United States.”

Ms Bachmann is on the House Intelligence Committee and may run for President.

Is Medicare Advantage right for you?
Thinking about enrolling in, or making changes to a Medicare plan? Open enrollment is October 15 – December 7.AARP's Medicare Q&A Tool can help answer any questions you may have. http://www.medicare.gov/ provides help online and phone.

Is mortgage refi right for you?
Rates are still low—3-4%--and you may be able to switch from a 30-year to a 15-year without much more money. Problem is that banks use computerized apps now and you may be declined even if you have good credit and great income prospects. Last month, the former chair of the Federal Reserve got his “we are sorry” letter. This is the man who set the bank rates for the country during the 2^nd worst financial crisis, and he can’t get a refi on a sub-$million home in DC. Wow. Ben Bernanke makes over a $100 grand PER speech and will take down $250K plus as a lobbyist somewhere, and he can’t get a loan. The computer says he has no “regular” job, so he gets the decline letter. Pendulum swings in credit are horrific so you need to

Create your own financial system: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

Brokers may not pay up even if you win your dispute--BEWARE

If your broker misleads you and you win a judgment in arbitration (suits are banned), you may never collect because brokerage firms do not have to carry insurance according to their regulator FINRA. A group of investors won a $3.9 million judgment against brokerage firm Resource Horizons Group, after the firm failed to supervise a broker who was running a fraud scheme on the side. The judgment is larger than the brokerage's net capital, which was $558,628, so investors are out of luck. In 2012, brokerage firms failed to pay $50 million in awards to customers.

Earn more without an advisor/broker: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

25% of young people ages 25 to 34 say they trust “no one” on money matters

Nearly 1 in 4 say they trust "no one" for money advice, according to a new study from Fidelity Investments. About a third said they trust their parents most for information on money, but many reported a real lack of communication with their parents about their finances. Almost half reported never receiving financial advice from their parents. Nearly half of them are already socking money away for retirement. Some have found the easy way to invest—Use their tax refund: http://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

Who owns your account now?

SBLI USA Life NY to Prosperity Life (Black Diamond & Capital Partners and Reservoir Capital Group, CEO Hans Carstensen, previously CEO Aviva Life).

Anbang Insurance, Beijing buys the Waldorf Astoria.

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 have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.

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

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

We need to learn guerrilla war tactics for 21st century "wars." 

Former AIG owner says he wants more of bailout from US

When the NY Fed, Geithner and US Treasurer, Paulson panicked over the bank gambling debts in 2007, the Fed asked Warren Buffett if AIG was good for the loan. Buffett Says He Gave Geithner Assurance Before 2008 AIG Bailout for $85 billion. The bailout grew to $182.3 billion, with the U.S. Treasury Department also providing assistance. This debate has turned into a lawsuit. AIG has paid back the loan but the former owner wants more.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Congress allows corporations to evade taxes--we pay

Congress allows corporations to evade taxes--we pay for them

More tax dollars are leaving the country as more US firms demand tax breaks to stay. Walgreen got $millions in tax breaks from IL and then decides to leave. We are being blackmailed and Congress does nothing. Even Fortune magazine sees the collapse in tax fairness coming. Coast Guard rescues Miami-based Carnival distressed Triumph and avoids taxes to pay its fair share. These corporations use our ports, roads, courts, communities, military hegemony, banking and capital markets but don’t pay for them. Forbes blames our tax rate not being as low as 5%. The 1%ers already got their tax cut.

Don’t get stuck with their tax bill. Start paying your fair share:

http://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236/

More drug firms escape taxes

AbbVie plans to buy Shire and base the new company in the U.K. to benefit from its lower corporate tax rate. The move is part of a wave of U.S. health-care companies looking to take advantage of European deals to lower their taxes. Also Mylan of Canonsburg, Pa., agreed to buy pharmaceutical assets from AbbVie's former parent, Abbott Laboratories that will create a new entity organized in the Netherlands. Tax considerations appear to be the primary driver in AbbVie's courtship of Shire. Shire's tax rate was 17% and AbbVie's was 22.3% a difference of only 5%.

Young women turn away from advisors—using internet tools and save

About 45 percent of baby boomers use a financial professional compared with 31 percent of Gen Xers and 15 percent of millennials. “The declining use of financial professionals may be due in part to the vast amount of investment research and tools available on the Internet, which millennials and Gen Xers are often more likely to use than baby boomers,” said Lori Fouché, CEO with Prudential Group Insurance. Nationally, only 31 percent of women use a financial professional, down from 48 percent in 2008, according to the Prudential study. With one in five women saying financial professionals don’t understand their needs, using jargon and a hardcore product sell is part of the problem. Women make better decisions when they find their own solutions. Cut out the middle person and Save: http://www.amazon.com/Personal-Finance-Online-middle-person/dp/1500522120/

Best mutual funds from last year fail for this year

For funds in the top quartile in March 2012, only 3.78% maintained that position in March 2014, a new study said. “Very few funds can consistently stay at the top,” according to the report, authored by the index provider's director of global research and design, Aye M. Soe. “The figures paint a poor picture of the lack of long-term persistence in mutual fund returns.”

This study confirms that there will always be a top performer for the year but you can’t use past performance to pick it. With 9,000 funds, one will always top next year’s list—just not predictable.

An unbiased Morningstar study of all funds showed that “In every single time period and data point tested, low-cost funds beat high-cost funds.” Cost is the best predictor.

Use Warren Buffett’s strategy: http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

Why your health insurance costs so much

Some health insurers pay their CEOs so much they make the top 10 on pay day. Aetna paid CEO over $36 million  so a good part of your premium goes to one man. Does he really help your health or even Aetna stockholder’s health? Could the company follow the rules just as easily without each patient having to pay $50 to $100 a year for this guy?

Obama cut deficit in HALF

The government's budget deficit will drop to $583 billion this year, the lowest level of President Barack Obama's tenure. Obama presided over trillion-dollar-plus deficits during his first term as the economy struggled to recover from a deep recession and financial crisis. GOP Reagan, Bush I & II ran the deficit from 30% of GDP to 90% of GDP, as in WWII, at $17 Trillion! Two tax cuts for the rich and two undeclared wars.  

GOP Crazies

FL GOP caught changing voting map to suit GOP. Districts redrawn illegally according to judge’s findings. Even though there are more registered Democrats in the state, Republicans currently hold a 17-to-10 majority in Florida’s congressional delegation. Did Bush II “win” 2000 election illegally?

http://www.pbs.org/newshour/rundown/judge-rules-fla-legislature-broke-laws-congressional-district-maps/

Obama impeachment?

Sarah Palin declared last week that Obama should be impeached over the immigration crisis and other issues, a call that even Congressional Republicans have dismissed. “She wasn't a particularly good vice presidential candidate,” Holder said on ABC’s ‘This Week. “She’s an even worse judge of who ought to be impeached and why.”

“There’s a certain level of vehemence, it seems to me, that’s directed at me [and] directed at the president,” Mr. Holder told ABC News. “You know, people talking about taking their country back. … There’s a certain racial component to this for some people. I don’t think this is the thing that is a main driver, but for some, there’s a racial animus.”

The KKK uses bags of candy to recruit in SC

The imperial klaliff (political leader of the Muslim world) of the Loyal White Knights and said the effort was part of a recruiting event they hold three times a year. Kids found candy at door on Sunday morning with note "Save Our Land, Join the Klan." It had a phone number that led to an automated message discussing KKK efforts against illegal immigration.

GOP cuts IRS enforcement by 25%--we will have to make up for the tax cheats

The GOP-controlled House has voted to slash the budget for the Internal Revenue Service's tax enforcement division by $1.2 billion; a 25 percent cut that would mean fewer audits of taxpayers and make it more likely that people who cheat on their taxes will get away with it, especially if they have a lawyer/accountant.
 

GOP cuts securities regulator to halt advisor enforcement of fiduciary rule

House killed budget request for imposing the fiduciary rule (salesman must give best solution regardless of fees). SEC will not uphold ‘best for customer’ rule.

State Farm cancels 30-year homeowner because bad weather

State Farm, which has insured Metzler's property for 30 years, was declining to issue her a new policy. Too many claims, her agent said. Metzler, 74, was ticked off. Her neighborhood had been hit hard by extreme weather several times in recent years.

"It was ridiculous," Metzler said. "What do I do? Put a faucet on Mother Nature? Gee whiz." Homeowners met with Montana’s Commissioner to discuss claims disputes. Some had assumed a policy couldn't be canceled because of an act of God. Not true.

Non-renewal presents real problems for homeowners because once a customer had been turned away after multiple claims, it becomes difficult, if not impossible, to be picked up by another claim-weary company.

Brad Hilliard, a State Farm spokesman, said it “has to look at what it can reasonably cover.” Doesn’t matter how long a customer has been with the company or what kind of insurance they have. It is how many claims a customer has filed. Claims cost money. Shop for discounts every 5 years since loyalty doesn’t matter: http://www.amazon.com /Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Senate supports Supremes: our employer now decides which religious law we live by

The U.S. Senate turned back a Democratic proposal requiring for-profit companies to provide workers with insurance coverage for birth control even if the employer has religious objections. Five white guys’ religious views upheld.

Social Security office still verifies income

Social Security said its offices will continue issuing statements that recipients can use to verify their benefits. People sometimes need the information quickly to verify their income when applying for a loan or other government benefits, such as housing assistance. GOP cutbacks had scheduled to close offices in October but that plan was put on hold.

9 used cars with problems—avoid despite price discounting

Besides many GM ignition faults, theses 9 are losers. 

https://autos.yahoo.com/blogs/motoramic/9-popular-used-cars-with-dubious-reliablity-164308845.html

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 have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.

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

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

Ex-cop who shot dad in FL theater for texting is free on bond of only $150,000

It cost Tea Party leader $250,000 bond for doing MS GOP dirty tricks not MURDER. Ex-cop got No charge for shooting wife in hand. No charge for using gun in theater. Claims "self-defense." Family says he is not violent at home with guns!

Is your charity gift really a charity or scam?

IRS lists qualified charities online so you have no doubt.

http://www.irs.gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check

AIG, the prime suspect in the 2007 financial crisis, is paid $650,000,000 by Bank America

American International Group will get at least $650 million in a settlement with Bank of America Corp. as the second-biggest U.S. bank seeks to end liability for faulty mortgages. AIG sold insurance to global institutions that bet on risky mortgages that went bad. AIG was bailed out by taxpayers and now reaped more profit from its bad bets.

Justice delayed is NOT justice

A dispute over a car damaged in an accident 18 years ago has led a Pennsylvania judge to order Nationwide to pay $18 million in punitive damages. It’s too late for the victims and only 1 week’s profit for Nationwide.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert

Retire with tax-FREE income: Avoid tax increases

How to Retire with Tax-FREE Income: Avoid tax increases to reduce the debt

Your total return in 2012 could have been 15.3%.

Unfortunately, you will eventually have to pay tax on those earnings if they are in your retirement accounts. They could be tax-FREE.

Isn't it time you started using the tax laws to your benefit? Why not pay your fair share? 

Warren Buffett pays only 17% total tax. Mitt Romney and John Kerry pay less than 15%.

I will show you how to set up your account in one hour: http://www.amazon.com/How-Retire-Tax-FREE-Income-increases/dp/1484156951/

Long-term care insurance premiums up for women

Genworth, the largest producer of long-term care policies, will start rolling out gender-based pricing next month for women who apply for coverage individually, and the company’s competitors are expected to follow suit. Genworth declined to specify the amount by which affected policies will rise; industry estimates put theincrease between 20% and 40%. Women live longer and thus have more claims than men. Industrywide, women represent 60% of long-term care insurance policyholders, and account for 70% to 80% of claims. Overall, premiums have risen between 30% and 50% over the past five years as the industry corrects for miscalculations that carriers made before the financial crisis. 

Women need to understand the alternatives before paying more: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Investment plans of academics do better than corporate plans

Retirement plans for academic faculties and staffs working at higher education institutions outperform the corporate sector due to lower costs, automatic enrollments, default contribution rates and plan changes in plan design, according to a new study.

Now you can use one of the best plans available for academics:  http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

ObamaCare subsidies to middle class without insurance--qualify

The majority of tax subsidies to help Americans pay for health insurance starting in January will go to working families, according to a nationwide study to be released Thursday and obtained by USA TODAY. About 25.7 million people who fall between 138% and 400% of the poverty level — or below $46,000 for a single adult and $94,000 for a family of four — will be eligible for funds that will go directly to an insurance plan that they choose. According to the Congressional Budget Office, those subsidies will cost about $350 billion from 2010 to 2019, but taxes and savings built into the law will offset them. For more information about the exchanges, visit http://www.healthcare.gov/.

Are prepaid debit cards for you?
Many credit-weary people are picking this type of money today because general aversion to credit, lack of credit available due to stringent lending standards and lower demand due to a decline in the number of credit-eligible borrowers. Other folks baulk at the new bank fees to maintain a relationship. 89 percent of the checking accounts offered at the 12 largest U.S. institutions involve bank fees. Some like the ease of use: buy and load at any big retailer. BEWARE FEES: Shop around. Fees vary. Some banks are setting a fixed monthly fee. Activation fees can be waived if done online. ATM fees can be $3. Check this survey to match your needs:http://www.bankrate.com/finance/banking/best-prepaid-debit-cards.aspx

Are low-initial deposit annuities for you?

Insurers are hyping fee-laden low-minimum annuities to induce younger people to start making payments early. Using cool names like Guaranteed Future Income, Income Elite, Choice Index 10, and Deferred Income, insurers are salivating over consumer fears of market turmoil and the flight to guarantees. However, annuities lock away your money for 20 years or longer. Tax-deferral can be gained in an IRA. Both require taxes to be paid when tax rates may be higher. Tax-FREE Roth IRAs can be a better alternative. Despite government support for funding annuities inside employer pensions, this can be costly. You are supporting the insurer, the mutual fund complex, the plan administrator and the employer bookkeeping. All these middlemen need to eat so you may pay more than you earn on your contributions during these low-interest periods.

There are better alternatives: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

NJ, NY homeowner rates up

Rates are going up. Policy language is getting stricter. Some insurers are pulling back from the coast. But they’re not leaving the Garden State. The most obvious change is the price of some private insurance. Insurance brokers say have seen some flood-prone properties get hit with double-digit percentage point rate hikes. But less obvious is the fact that insurers are also re-tooling their policies to limit exposures, earn more money for extra coverage and create greater clarity about what is and is not covered. Insurers are starting to define a storm surge as flooding, rather than a phenomena caused by a “named storm,” such as Sandy or Irene. This reduces their responsibility. Flood insurance may run $500-$2,000 depending on the area. 

Buy only what you need:  http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Women want more financial help but professionals “not responsive”

More than six in ten women (62%) said they have an interest in learning about financial planning, retirement planning and investing according to the 2013 Women, Money & Power Study* from Allianz Life, nearly double the amount (35%) who indicated interest in these topics during the original study conducted in 2006. However, despite innovations within the financial services industry, 70% of all women said they believe financial information is hard to understand, up significantly from the 44% who felt that way during the initial Women, Money & Power Study. Women are asking for clear and simple-to-understand financial information that is available on the Internet.

The vast majority of women surveyed noted they are more concerned about attaining a retirement lifestyle than gaining specific investment guidance. Members start here: http://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293

Is a reverse mortgage right for you?

First, you need to qualify. To be eligible for a FHA HECM, the FHA requires that you be a homeowner 62 years of age or older, own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, and you must live in the home. You are also required to receive consumer information free or at very low cost from a HECM counselor prior to obtaining the loan. You can find a HECM counselor online or by phoning (800) 569-4287.

The amount you may borrower will depend on your age (youngest borrower), Current interest rate, Lesser of appraised value or the HECM FHA mortgage limit of $625,500 or the sales price; and Initial Mortgage Insurance Premium--your choices are HECM Standard or HECM SAVER. In addition, the more valuable your home is, the older you are, and the lower the interest rate, the more you can borrow.  If there is more than one borrower, the age of the youngest borrower is used to determine the amount you can borrow.  For an estimate of HECM cash benefits, select the online calculator from the HECM Home Page. Many online reverse mortgage calculators can provide you with an estimate of the amount of funds you can borrow.

Less expensive home equity loans are alternative.

Rich get richer; everyone else got poorer

During the first two years of the nation’s economic recovery, the average net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau data.

From 2009 to 2011, the mean wealth of the 8 million households in the more affluent group rose to an estimated $3,173,895 from an estimated $2,476,244, while the mean wealth of the 111 million households in the less affluent group fell to an estimated $133,817 from an estimated $139,896. 

We need help to build wealth. Try: Your Investment Edge

http://www.amazon.com/Your-Investment-Edge-Tax-FREE-Account/dp/1482695677

Is your advisor trying to get rid of you?
Here are the signs:

When your advisor starts your financial review conversations by shifting the responsibility to the firm, he may say, “we’re not doing much for you” or “the cost of doing this is probably not appropriate for you.” He may try to transition you to some sort of platform outside—such as Schwab, Vanguard or Fidelity. Some advisors with long relationships find it difficult, so the ‘boss’ might take over the conversation. Remember, advisors are paid by commissions on sales or quarterly fees from your account. If your account is not producing at least $5,000 every year, you are not profitable. You will probably receive a nice follow-up letter after the conversation.

On the other hand, Vanguard may welcome you with a nice follow-up phone call. You can probably make good use of that $5,000! Advice from licensed advisors is free and you may just need confirmation of what you are already doing: http://www.amazon.com/101-Financial-Planners-Questions-Answers/dp/1469990563

Brokers stop Regulators from making it easy to find brokers’ records

FIRNRA withdrew a proposal that would have required brokers to post a link on their websites and social media to a database containing information about their disciplinary history. Finra proposed the rule as a way to increase investor usage of BrokerCheck. Finra spokeswoman Michelle Ong said the agency withdrew the rule due to feedback it received in 24 comment letters.

Investors will have to search on their own to check out bad brokers. Members avoid Wall Street and earn more: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

See if your advisor is robbing you blind

http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/retirement-gamble/the-retirement-gamble-facing-us-all/

Great graduation gift idea

Get your graduate off to a great investment plan using our iTunes app:

https://itunes.apple.com/us/app/$2-million-retirement-system/id449360218?mt=8

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

Here we go again?

Citigroup, Goldman Sachs, and Morgan Stanley preach caution, even as their bankers return to pre-crisis deals.Recently, Citi has made big bucks pushing a type of bond deal that packages together risky loans and sells them off to investors as highly rated investments. In the first quarter of the year, the bank was the biggest underwriter of collateralized loan obligations. Citi is also back in subprime -- earlier this month, it was one of the lead bankers on a $1.1 billion bond deal backed by auto loans to borrowers with low credit scores. Wall Street firms have sold nearly $30 billion in CLOs this year, more than triple what they sold in the same period a year ago. These banks are still insured by us the taxpayers. More:http://finance.fortune.cnn.com/2013/04/24/banks-risky-deals/

FL considers canceling tax breaks for financial firms

The Florida Senate is advancing plans this spring to eliminate a pair of decades-old tax breaks for banks and insurance companies. One measure would repeal a tax deduction for international banking, which critics say has become a gaping loophole that does nothing to encourage investment in Florida and primarily benefits big, multistate banks such as Citigroup and Bank of America. The other gives insurers $30 million extra for car registrations. Who knew?

American terrorists buy all their bombs from same store—no license required!

Boston Marathon bomber Tamerlan Tsarnaev walked into a New Hampshire fireworks store two months before his deadly attack and asked for the “biggest and loudest” kit — then got another set for free, the Daily News has learned. The company that sold Tamerlan the fireworks is the same one that sold Times Squarebomber Faisal Shahzad the firecrackers he used to build his failed car bomb. Tam bought the “lock and load” kit of 24 shells of gunpowder. Buy one get one FREE. Wow!

Should doctors/hospitals charge victims over $20,000 to amputate leg?

Are bombing victims really getting hit with the full price? If you have ever had a procedure, you know the insurer is billed many $ thousands and pays about $ 500 because they have a contract with the provider. Luckily, MA requires insurers to cover almost all expenses so residents have help but only the “medically necessary.” Out of state residents are out of luck. Will they sue bombers? Their families? Bomb sale store?

Insurers don’t cover all artificial limbs. One victim "got a call from the insurance company and the person on the other end said, 'How long are you going to need the prosthetic hands?' http://news.yahoo.com/boston-victims-face-huge-bills-donations-pour-174957328.html

West TX blast victims are suing the fertilizer plant which is family owned.

TX gov wants to abolish all regulations in this country. Plants will explode and kill more people since this plant was just given violations but never complied. http://www.propublica.org/article/what-went-wrong-in-west-texas-and-where-were-the-regulators
 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Take Social Security benefits before GOP cuts?

Is it smart to wait for Social Security benefits?

Now that the GOP is talking about cutting our future benefits, we have to reconsider when to start getting our money back. There are many situations—married, divorced, divorced 10 years, spouse passed away, younger takes benefits while older works, the reverse, playing the odds of living to 100, taxable benefits and 2nd job, supplement early benefits with spouse benefit while working, etc, etc. We need to know our options as soon as age 62. Read the info http://www.mymoney.gov/category/topic1/planning-retirement/-retiring.html and http://www.bankrate.com/finance/retirement/7-social-security-benefits.aspx?ic_id=nwsltr_wkrdup_20120203


House agrees to stop illegal insider trading—sort of.

60 minutes caught House leader Pelosi without answers on her ‘illegal’ trades. http://www.cbsnews.com/video/watch/?id=7388205n

House’s Cantor exempts those who sell “intelligence” to Wall Street. Allows “corruption” to continue, according to GOP Grassley.

http://articles.businessinsider.com/2011-11-14/politics/30396448_1_stock-market-market-moving-information-trades


Questions for your HR 401k Plan administrators/investment guides.

Forbes just outlined the types of questions to ask about your 401k so that you can make decisions about your best investment choices. Unbiased advisors say that cost is the best predictor of mutual fund returns. Why is there no Vanguard index option?

http://www.forbes.com/sites/feeonlyplanner/2012/02/02/do-you-know-whos-on-the-hook-for-decisions-made-in-your-401k/?partner=yahootix


Auto insurance instantly

Progressive announced today an application for the iPhone that is designed to radically change the auto insurance buyer’s experience. Positioned for the direct-to-consumer space, Progressive’s mobile app uses image capture technology designed to provide an accurate auto insurance rate that is customized to the user, and upon acceptance, to actually bind (guarantee immediate) coverage. “We can’t get a shortcut around the information we need, and we need lots of pieces of data, so keying in that data can be challenging at best. What’s unique about a mobile device is that it’s faster and more convenient—so we are taking the next step.” Progressive will be the first company to use image capture in this manner, Lehman says. “This is real time in front of the customer.”


Retirement income guarantee but at a cost

Uncle Sam wants to expand the transparency of 401(k) fees and broaden the availability of retirement plan payout options to encourage the use of annuities to provide lifetime income. Uncle Sam is giving a windfall to the financial services industry by making annuities available in our employer’s retirement plans. It will be easier to buy an annuity with our 401k money when we leave our job. Many people just cash out their 401k and the government is worried we won’t have a nestegg for later. Most annuities sold today are very expensive so sellers will make a fortune on the $11 Trillions in pension plans. Memebers have a better way and save 1-2% on the commissions too. http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016


CA Medical Debt Keeps Rising, New Report Shows

In 2009, 2.6 million non-elderly Californians had some kind of medical debt -- an increase of 400,000 since 2007, the new "State of Health Insurance in California" report shows. Among enrollees in Medi-Cal, the program that is intended to provide comprehensive care for low-income residents, 18.2 percent had medical debt, a level comparable to the uninsured (18.4 percent). "This suggests that the program may not be providing everything its enrollees need, either because certain services are not included in coverage or there are increasingly fewer doctors that accept Medi-Cal patients," said Lavarreda.


Another long-term care insurer quits—raises rates for existing policies

Unum is getting out of the group long-term care insurance (LTCI) and preparing to increase the premiums it charges for in-force group LTCI coverage. "We intend to aggressively manage the long-term care business," Thomas Watjen, president of Unum, Chattanooga, Tenn., said today. "This will include continuing our practice of seeking rate increases on the in-force business where warranted and also exploring opportunities for capital management." Members consider alternatives like using their Wealth Reserve if needed. amazon.com/Create-Financial-Freedom-Wealth-Reserve/


Media spotlights how insurer evades paying claims--again

TV station highlights struggle of a patient’s family and regulators to battle for long-term care insurance coverage after buying a policy, the head of the NAIC health committee has vowed stronger regulation for those LTC insurers that deny coverage even when it deemed valid. The case involves a company making no benefit payments after claim for over $165,000 in care for a Miriam Mills, a 93-year-old nursing home patient with memory lapses. Mills' case was meant to expose the alleged problems with Bankers Life and Casualty (Conseco), which serves seniors. “Despite numerous faxes, telephone calls, letters, a flood of paid nursing home statements, care plans forms and even a formal complaint filed with the Missouri Insurance Commissioner, no benefits have been paid,” a Mills relative stated. Insurers don’t like paying claims. See The Rainmaker: http://en.wikipedia.org/wiki/The_Rainmaker_(1997_film)





The End
Eastman Kodak Co, the photography icon that invented the hand-held camera and helped bring the world the first pictures from the moon, is exiting the camera business.


GOP claim high taxes hurt job formation is disproved by Romney’s own work

Romney’s business profits for investors is evidence that fair tax rates don't hold back profit-seeking capitalists. From 1984 until 1999, the top rates on capital gains -- the profit from investments as opposed to compensation for work -- were often at 28 percent, and never lower than 20 percent. Indeed, in 1987, under President Ronald Reagan, the 20 percent rate rose to 28 percent -- a 40 percent increase in potential taxation of Bain investment profit. (Yes, Reagan did raise taxes, even on capital.)

Capitalists invest when there are profits to be made. Jobs are created when the workers earn enough to buy the stuff they produce.

Henry Ford had it right: Paying high wages," he concluded, "is behind the prosperity of this country."


SCAMS
Will anyone go to jail for mortgage mess?

New Mortgage Suits Against BofA, JPMorgan, Wells Fargo Plus Goldman

A federal judge certified a class-action lawsuit being led by a pension fund for Mississippi’s public sector employees that invested in the securities. A class action suit may draw in more plaintiffs who would otherwise not have the resources to take on Goldman in court. The case in question concerns a $698 million offering that was backed by New Century loans.

How could Romney have an IRA worth $20 - $100 million as per WSJ

The IRA max was $2000 in 80’s, now $5000. Rollover IRA from 401k max $30,000 a year. Romney was not making cash contributions to his IRA. Was he parking equity shares of his companies’ investment funds there, or quite possibly putting shares of private companies that his firm bought into his 401(k). If this happened, we need to know at what valuation Romney made these contributions. It is very easy to claim a low stated value for shares of private companies or investment funds that have no market price. If Romney purposely understated the true value of the shares he contributed to his retirement plan he could be held criminally liable. He used offshore accounts for this perhaps.

Romney will face earned income tax when he takes out the IRA money. IRA money is not taxed at capital gains rates. ... unless he can arange a special deal with the IRS. He might have a chance if he becomes Pres, unlike us tax payers. Maybe this is why he is running for President. The ultimate capitalist pays only 13%. Everyone else pays more.


Wall Street offers CD with 24% return—sort of, if you a lucky, maybe, perhaps, etc, etc.

Regulators are examining sales of certificates of deposit tied to derivatives after banks sold a record number of the investments last year. The industry-backed regulator wants to make sure the so-called structured CDs, where principal is protected by the Federal Deposit Insurance Corp., are properly understood by investors given their increasing complexity and lengthening maturities, said Maria Rabinovich, a lawyer in Finra’s risk division.

The watchdog issued an alert on “complex products” in January, outlining a few examples of misunderstandins, such as those where information is not readily available about the assets they’re tied to, and so-called“steepeners,” which typically bet on the shape of the Treasury yield curve. Goldman Sachs offered a four-year CD linked to the monthly returns of the Dow Jones Industrial average in December that returns as much as 24 percent a year. The Dow would have to gain at least 2 percent each month over the CD’s life for the maximum payout, according to an offering statement. Investors are guaranteed an annual yield of 0.5 percent, an amount less than the average 0.77 percent rate paid by one-year certificates of deposits.


IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com