Where is your old pension and 401k?

Do you know where your former company pension or 401k landed?

I found mine; no thanks to those who were making money from my money. Many people forget they have a pension or life insurance from an old firm. The company may have been purchased or merged or gone bankrupt. If your old firm does not have your current address you will not know where your money lands. Deborah kept looking despite the bad information she was given. Whatever circumstances, there are no standard practices or central registry for your money’s location. Some companies are just not interested in helping you. Pension rights advocates claim employers have an incentive NOT to find missing participants like Deborah. Like MetLife, they may be caught holding the money for life insurance beneficiaries because they make millions from holding our money. I had to fight to obtain my pension from Thomson McKinnon which did a chapter 11 in 1990. Since there is no national registry yet (and may never be), I started at the https://www.dol.gov/agencies/ebsa and the https://www.pbgc.gov/ and went to the bankruptcy filings and lawyers. Finally, online records turned up the fact that John Hancock had it all this time without telling me. And I had not moved. They just didn’t let me know they held my money. You know why.

https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

When should you NOT convert a regular IRA to Roth IRA?

Ed Slott is the expert on IRA and Roth IRA. He is a fan of Roths because distributions are tax-FREE from fed and state income taxes and there are no mandatory withdrawals like regular IRAs. You can convert an IRA to a Roth, pay the tax and then smile in retirement when there is NO tax to pay. Slott says there times when this conversion makes little sense. For instance, if you can’t pay the tax from other funds or your rate is lower later. His full advice is here https://www.fa-mag.com/news/when-roths-may-not-be-right-39880.html. If you can’t convert, build your Roth IRA while you are working.

Know your IRA required minimum distributions in advance: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

Is your advisor/broker working for you or for the perks?

Under current rules, your advisor can sell you products that are NOT the ‘best’ for you—your money would be taken and you won’t even know it until later. There is no ethical pledge like lawyers or doctors take to do no harm. Trump’s regulator at the SEC makes the rules. He doesn’t ban sales quotas, fee hidding or lavish trips for sales of poor in-house products. Formal disclosures protect the seller and industry; not educate the buyer. When you get taken, you don’t have the right to sue. Unfortunately, you must ask the industry-run arbitrator to decide your case and if you win your odds of collecting are lower than with a court order. Sellers who cheat people are not barred—they just move to a new firm. After the industry killed the Labor Department’s Fiduciary Rule last year, advisors have the green light to take you since they hold all the cards. Even the ‘top broker’ at well-known firms have cheated clients and just moved on to a new firm.

Protect your money BEFORE you act: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275

New ways the wealthy avoid taxes that we have to pay for them

The Trump tax breaks did not reduce the amount the well off can deduct from their taxes. The rich get richer. We have to pay for the courts, police, military, roads, airports, etc. the rich use but don’t pay for. We taxpayers help pay for the vacation and rental properties of the rich. Instead of paying their gains tax on the sale of these non-principal residences, Trump and the GOP have made the gains tax-FREE. Any properties they don’t use themselves can even offset any taxable regular income so they may pay less than we would with the same income. So you probably could rent their homes at high rent but they may avoid taxes on that income and the sale of that home when they sell it. Nice!

You can have a Trump tax shelter too: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Are actively-managed funds right for you?

Mutual fund manager costs usually sink their long-term investment returns. Studies of performance over time show that out of the thousands of funds, there will always be some that beat the index fund in the short term. However, over time it is clear that costs kill the returns because of fee compounding. In fact, with expenses of 2% over our working lives of 40-50 years, we will give up 63% of our total potential nest egg. That is a big price to pay for a quick thrill of beating the index in one year. However, for the advertising department of an actively-managed fund group, one year of good returns is worth $ millions of new money for profits over the next 10 years. For those looking for the best-performing actively managed mutual funds, here is the list. But by next year, they will be dogs according to studies on longevity. Low cost beat high cost over time.

For most of your money, go long: https://www.amazon.com/Go-Long-Reach-Wealth-Starting/dp/1519376189

Is America a wealthy-person socialist state already?

Trump’s socialist gift of $12 billion to the lucky few was done without consulting Congress or taxpayers. Farmers are not poor. Most are very wealthy—farmland costs a bundle and many have become tax-FREE corporations. Farmers already have a socialist’s bonanza from us taxpayers. Do you receive a Price Loss Coverage payment when you can’t sell your business products profitably? Farm corps do. Trump shows another way socialism works for the rich. Trump voters don’t mind a short-term tariff war as long as they have their government socialist state payments. Same with his friends in oil, gas, sugar etc who have multiple war chests of subsidies, loans and grants to tide them over from tariffs. Just ask the Congress people who double dip—salary, expenses plus grants, subsidies and kickbacks. It is us poor taxpayers that need the subsidy for tariffs since we are the ones that pay for them. When we shop at Walmart etc we usually buy Chinese. Most of Trump’s new tax breaks go to the already rich. I have documented some of them in this blog. Our lower payroll tax was offset by higher health care costs with the end of ObamaCare. Ranchers no longer pay public land rental fees. Did you receive government money in the 2007-8 recession Your bank got your future money. Your car company got government help when you lost your house. You didn’t. Trump decided to give his friends a cut in their capital-gains tax.

Use your tax shelter: https://www.amazon.com/Americas-Socialism-for-Rich-only-little-people-pay/dp/1535218584

Is a dependable vehicle right for you?
Most people say they need a reliable mode of transport—the average family spends over $9,000 a year. I’m guessing it is so high because they are paying off a new vehicle—popular trucks and SUVs begin at $35,000. Buying a low mileage version of your favorite may just save you $ thousands for other things. If you drive a lot, maybe a Prius at $16,000 is a good bargain. Oil is not going down. A 2015 Highlander can be had for $23,000 or a Sante Fe for $17,000. My favorite is the 2015 Accord for $17,000.

Don’t forget discounts on insurance: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Opioid epidemic was created by drug companies and Washington lets it go on

Doctors are rewarded with trips for getting people hooked. Particularly grotesque is the enthusiasm with which Purdue Pharma peddled its pills, a 10 year veteran reporter writes. “In the first five years OxyContin was on the market, total bonuses for the company’s sales staff grew from $1 million to $40 million. Zealous reps could earn quarterly bonuses as high as $100,000, one former salesperson told reporter Macy, adding, ‘It behooved them to have the pill mills writing high doses.’” To fight withdrawal pain, Oxy users switched to heroin and later fentanyl. Parents of the victims gain support with national networks like this one. 16 states have filed suit against the pharma industry. Drug makers spend more than any lobby so Congress does nothing. Money talks.

https://www.amazon.com/Dopesick-Dealers-Doctors-Company-Addicted-ebook/dp/B078D67JCF

****************

Make America, “The Don”, Great Again

Two Americas: A Banana Republic? Do we really want an infant king? Daddy Putin!

Conspiracy against the United States, conspiracy to launder money, conspiracy to receive Emoluments from foreign states, false statements, subverting constitutional tax power, obstructing justice, failure to secure voting systems from attacks, and Foundation self-dealing.

***********************

How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!

Trump mob running Veterans Admin from his golf club

‘Space Force’ $ Trillions gimmick replaces American ‘infrastructure’ rebuild: bridges?

SCAMS/SPINS:

Lobbyists tell Trump’s Commerce which firms will beat tariffs: have you been chosen?

Karl Rove: ‘Tone Down the Rhetoric’: Stalin Used ‘Enemy of the People’ for media too.

1 Global Capital and 1 West Capital caught selling fraudulent loans to investors

Westminster Financial Securities refused to pay arbitrator’s settlement $275K to client

GOP Chris Collins NY caught making money from info we don’t have. Others too.

IRS says 20% tax break only for the chosen few: Trump’s gift that keeps on giving.

When we all have guns for ‘protection,’ who will police shoot first? Safe in your home?

               police shoot owner who already shot intruder. All kids have plastic killer guns?

Jobs:

Our wage buying power is the same as we had in 1974: Milk was 55 cents; now $3.50.

New job search? Check your credit report BEFORE your new employer does.

Who owns your account now?

Trump health plans get booed by state health regulators: misleading, limit payouts!

GM health cover switched to GM HMO cuts costs; limits choice.

Health insurance and drug firms spend $ millions to end single payer health care for all.

GE Genworth long-term care premium up 58%; approved by states

SS benefits could be higher for survivor if timing right.

Beware: When you sign up for Uber they hit your account for $250 or more ‘temporarily’

Samsung 7 is being hacked.

                                                  

Miracle:

First Lady cites good work by person Trump dislikes & envies: She’s brave to talk back?

Kids suing US for making the climate worse.

IAN

41 Watchung Plaza, B242

Montclair ,  NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Tax-FREE income means 25% MORE

Tax-FREE retirement income means 25% more

Today we can reduce taxes 10 ways and make sure we are protected by creating an inflation-proof retirement. We need to enter the last 30 years of our lives knowing how we are going to manage it. We need a realistic and flexible plan we can execute ourselves. Financial advisors only want wealthy clients. Most of us are on our own.

    I will guide you through the process. We must create two budgets; avoid income taxes as our money grows; and invest in a way that provides a growing income for 30 years or more. We don't need a broker or advisor. In fact, their fees often take 40-60% of our nest egg over time. 

      Our first task: Re-position assets for lower fees and taxes.

http://www.amazon.com/Cut-Taxes-Retirement-ways-less/dp/1499590954

What makes a successful mutual fund?
This is the only question to ask your advisor when you review your holdings. Recent analysis by Morningstar, unbiased fund evaluator, says that the current top funds will not succeed in the next five years. “… in 2008, stock funds with the best past performance generally did not fare well in the subsequent five years.” The best predictor of success: COST. John Bogle discovered this in 1974 and created Vanguard, the largest fund firm. Buffett agrees. You keep the fees and keep more: http://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

Doctors reading writing on the wall of Health

American physicians are leaning more left, an analysis of campaign contributions over two decades show. The first rigorous look at donor doctors also finds they've become increasingly generous, with political contributions surging to almost $200 million in recent years. An increase in female doctors — who more often than men donated to Democrats — and a decline in physicians working on their own or in small practices occurred during study years. Those changes likely contributed but reasons for the political shift are unclear, said study co-author David Rothman, a social medicine professor at Columbia University's medical school.

New health plans can save us $2,000 a year: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

ObamaCare critics change mind after coverage

Bonnita Spikes entered the political fray when she was featured in gubernatorial candidate Douglas F. Gansler's April radio ad lambasting Maryland's problem-fraught health exchange. But as irritated as she was with the implementation of the Affordable Care Act in Maryland, she's been much happier with the treatment she's received after she finally enrolled. Now Spikes has lent her voice to a publicity campaign praising the health reform effort. Save: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Annuity seller goes to jail

Alan S. Lewis faces 20 years for embezzlement, grand theft and burglary of seniors’ retirement funds. He is accused of selling fixed index annuities with a surrender charge. Lewis induced 12 seniors into surrendering individual retirement accounts or annuities for a “less favorable” annuity, according to court documents. The clients incurred a surrender charge that Lewis promised would be offset by the bonus of a replacement annuity. They all lost over $300,000.

Better alternatives to annuities: http://www.amazon.com/The-Best-Annuity-Strategy-Income/dp/1497532019

Advisors caught lying about returns

ZPR Investment Management and Max Zavanelli fined $1 million and barred from selling for claiming his firm’s historical performance results outperforming the benchmark index. He says he was “shocked” by the ruling.

Almost 90% of advisors can’t beat the index.

Go with the smart money: http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

Brokers dodge customer complaints with bankruptcy

A John Thomas Financial broker, Scott Levine, was granted a moment of reprieve earlier this month, thanks to a bankruptcy filing on May 13. After incurring multiple customer complaints related to his former firm, which was expelled by the Financial Industry Regulatory Authority Inc. in October 2013, bankruptcy protections afforded by federal law have frozen five customer complaints in which he was named and which carry damage claims that could total nearly $5 million.

Brokers don’t know what the future brings despite what they say: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

American youth abandon Dream

Young adults, age 18 to 34, are most likely to feel the dream is unattainable, with 63% saying it's impossible. This age group has suffered in the wake of the Great Recession, finding it hard to get good jobs. Some 63% of all Americans said most children in the U.S. won't be better off than their parents. This dour view comes despite most respondents, 54%, feeling they are better off than their own parents. Home ownership is no longer part of the American Dream.

College costs up 1200% since 1978; Graduation rate down

According to data from the U.S. Bureau of Labor Statistics, the price index for college tuition rose almost 1,200 percent from April 1978 through April 2014. Consumer prices overall rose less than 300 percent. This is, as one of Rossi’s talking heads says, “unsustainable.” Raising tuition at state U leaves students with unpayable debt, a problem that’s worsened by their seeming inability to graduate on schedule. Forty-four percent of people entering four-year colleges fail to get degrees even after six years. Only ¼ students passed algebra via the FREE online classes. Plumbers still get $150 an hour!

Is Reverse Mortgage right for you?

Sales pitch: Use equity in your home to pay bills and remaining mortgage. Live there for the rest of your life. Just pay taxes and insurance which you would anyway. BOOM, then comes the problems. Conditions change. You can’t pay. They want their money and more.

Consider alternatives first: http://www.amazon.com/Maximize-Social-Security-Benefits-Retirement/dp/1495439224

GOP socialism?

GOP crazies bring home the bacon

Southern states dominate the list of who benefits most from federal programs. After West Virginia, the rest of the top five recipients of federal money are: Mississippi, 24.0 percent; Arkansas, 22.8 percent; Kentucky, 22.4 percent; and Alabama, 21.8 percent.

What happened to GOP rejection of federal government?

Workers at catholic organizations must live life of celibacy or have kids not wanted

A federal judge has temporarily prevented the U.S. government from forcing nearly 200 Catholic employers to provide insurance coverage for contraceptives under President Barack Obama's health care law.

Terrorist switch to regular mail and ‘smoke’ signals

Vodafone, which has 400 million customers in countries across Europe, Africa and Asia, said in its "Disclosure Report" on Friday that countries in its reach are using similar practices to the US and Britain—tape all calls. While most governments needed legal notices to tap into customers' communications, there were six countries where that was not the case, it said. We are ‘catching’ all the wrong folks.

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.

We are paying to insure the wealthiest American teams and businesses

Yes, it is true. The sports associations, along with insurers, developers, banks and the U.S. Chamber of Commerce, say their businesses could be wiped out by a Sept. 11-style attack, unless the U.S. government continues its program to help protect them against losses from terrorism. We have to pay for their insurance even though they are making record profits and CEO $ million salaries. The program guarantees federal reimbursement to insurers once the industry’s aggregate losses from a terrorist incident exceed $100 million. $100 million is chump change to these businesses. They can afford it more than we can.

They don’t want to extend unemployment or the minimum wage but this FREE subsidy is OK??

HOLD ON: Fracking may cause earthquakes under your home

While Reno and Azle residents have only reported around 30 earthquakes to the U.S. Geological Survey, area seismologists have recorded more than 300 quakes in the area since December — many too small for human detection — all clustered around area injection wells.

General Motors fires several employees, including suspended engineer Ray DeGiorgio but leaves attitude “Do not use these words” list—Defect, problem, recall, etc—intact.

“It’s the economy [of GM] stupid” These are the employees who could root out problems for the future cause they know them. 

“It’s the economy [of GM] stupid”

Let's take back the bonuses from the bosses back then instead!

PA Capital denies drugs to seniors—Real “death panels” at insurer not ObamaCare

Capital's "Medicare Advantage" plans and Medicare Part D, which covers prescription drugs frequently made faulty decisions regarding whether drugs prescribed by doctors were covered, causing customers to be unable to get the drugs, or to experience delays. In some cases, customers had to pay "inappropriate" out of pocket costs. In addition, CMS said Capital violated Medicare rules for handling customer appeals and grievances. In a letter to Capital, CMS said, "These failures pose a serious threat to the health and safety of enrollees."

Who owns your account now?

Protective Life to Dai-ichi Life Insurance, Japan

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Winners and losers

Today’s winning mutual funds are tomorrow’s has-beens—don’t time market

Only 7% of the 692 domestic mutual funds that ranked in the top quartile of returns in September 2011 managed to continue to rank in the top quartile through September 2013, according to the S&P report. Only 21.24% managed to stay in the top quartile over two straight years. Over five years, the odds drop considerably, even if the standards are lowered to just staying in the top half of all funds in a respective category. Only 6.47% of the 1,421 domestic mutual funds that ranked in the top half of performers in September 2009 stayed in the top half for the next five years without slipping. Smart investors use index funds since they beat 86% of all funds over time. http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

Congress cuts military pensions—but not their own pensions

Saying thank you to our military? Military retirees are outraged that Congress voted a budget deal that trims military pensions, calling the move "an egregious breach of faith." The  deal cuts pension cost of living raises by 1% for military retirees who aren't disabled and not yet 62 years old. Cost of living hikes are automatic raises intended to keep up with inflation.

What is left after cuts to food stamps and unemployment comp? Congress’s pay?

Wealthy cut holiday spending—economy falters

Survey predicts a sharp, 9.4 percent drop in holiday spending this year. Behind this drop is a sharp falloff in spending by the wealthy. Those with incomes above $100,000 plan to lay out $300 less than they did last year, undoing two years of strong gains. Already have everything they want.

Corporations are not spending on new plants/equipment—CEOs clean up

Corporate share-buyback authorizations this year through March totaled an estimated $208 billion, according to research firm Birinyi Associates. That marked the strongest first quarter since Birinyi began recording buyback data in 1985.

The first quarter was the fourth-largest in dollar terms, trailing the second-, third- and fourth quarters of 2007. At the current pace, 2013 would see $833 billion of authorizations versus $477 billion in 2012 and second only to 2007’s $863 billion of buyback activity.

Prius is best value car

Best overall value among all models out there, Consumer Reports magazine says look no farther than the Toyota Prius, the popular hybrid car. And at the other end of the spectrum, if you want to squander all your dollars, you can't do a better job of flushing them away than by buying the Nissan Armada, a giant SUV, says CR as part of its annual Best New-Car Value analysis. For Prius, it's a second straight win on the CR best-value list, having unseated the Honda Fit from the title it held for four straight years. The magazine lauds it as having the right combination of performance, reliability and low estimated five-year ownership costs at 47 cents per mile. Armada costs $1.20/mi.

Toyota Avalon Hybrid Limited scored highest among large cars and Lexus ES 300h was top luxury car. Save more with a top pick USED vehicle:

http://consumerreports.org/cro/2013/04/best-worst-used-cars/index.htm

Hyundai is most fuel efficient. 

http://autos.yahoo.com/blogs/motoramic/hyundai-ranks-most-fuel-efficient-automaker-2013-epa-190137784.html

Honda is top safety pick

http://www.iihs.org/iihs/news/desktopnews/thirty-nine-vehicles-meet-tougher-criteria-to-earn-2014-safety-awards-from-iihs

To claim or NOT to claim insurance—that is the question

Drivers pay an average of 38% more for car insurance after making a single claim, according to a new insuranceQuotes.com report. The hike is steepest in Massachusetts, where just one claim leads to an average premium increase of 67%. California (+62%) and New Jersey (+59%) are not far behind. Maryland has the lowest post-claim increase (+20%), followed by Alabama (+22%) and Michigan (+23%). A second claim puts an even deeper dent in Americans' wallets: a driver with two claims pays nearly twice as much for car insurance as a claim-free driver (+86%). Time to ask for discounts with a new company:http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Voter fraud issue is GOP fraud—study says no fraud

Out of the 197 million votes cast for federal candidates between 2002 and 2005, only 40 voters were indicted for voter fraud, according to a Department of Justice study outlined during a 2006 Congressional hearing. Only 26 of those cases, or about .00000013 percent of the votes cast, resulted in convictions or guilty pleas. But the push for voter ID laws is not all about preventing fraud, said Pennsylvania state Rep. Daryl Metcalfe, who sponsored his state's voter ID law. Cost of routing out 26 from 200 million is estimated at over $200 million in all states. This includes buying a birth certificate, going to MV, paying fee and state bureaus making and enforcing new laws/regs about voter ID.

Paying military retirees full benefits would be cheaper (see above).

ObamaCare charges smokers more, but …

Except in CA, NY NJ and MA, you will be charged more for your policy. This surcharge may make premiums greater than your subsidy. There is little that can be done to verify non-smoker status on the applications. Once you have coverage, you can’t lose it. I am guessing poor smokers won’t worry about collections after they get sick. 

http://www.businessweek.com/articles/2013-12-03/how-much-more-will-smokers-pay-for-obamacare

Health plans are voluntarily extending the deadline for consumers to pay their first month's premium. Consumers who select their plans by Dec. 23 and pay their premiums by Jan.10 will be able to have coverage effective Jan. 1.

ObamaCare will reduce costs eventually

Executives in the health care delivery system said: “overall, the expected average operating cost reduction was 11.7 percent. Fifty-four percent said the savings could be achieved by reducing the number of hospitalizations, 49 percent said savings could be achieved reducing the number of readmissions, and 39 percent said savings would be achieved by reducing the number of emergency room visits.”  It is easy to be pessimistic “yet hospital leaders appear to be very optimistic about the future of the system."http://www.upi.com/Health_News/2013/12/19/Healthcare-executives-say-Obamacare-will-cut-costs/UPI-71171387506566/

Junk insurance plans being uncovered—mixed blessing

Some states allow companies to sell plans that don’t cover serious costly illness. Consumers buy plans because they are cheap. They don’t realize the ‘junk’ until they have to use the plans. By then it is too late. Bankruptcy often follows losing all savings.

http://www.macon.com/2013/12/19/2839614/junk-insurance-comes-back-to-haunt.html

ObamaCare forces Congresspeople to pay more for insurance—taste own medicine

Rep. Jim Matheson, D-Utah, saw his monthly premiums rise from $434 to $795. Like all members of Congress, Matheson had previously selected his insurance from plans offered through the Federal Employees Health Benefits Program, which still covers everyone from park rangers in Zion National Park to the chef in the White House. With such a large federal workforce, the program has a huge risk pool and that meant lower-than-average costs for top-quality insurance. But when Congress passed the Affordable Care Act in 2010, Republicans fought for and won a provision requiring lawmakers and most of their staffers to get their insurance through an exchange, set up to help the uninsured and those who buy insurance on the private marketplace. Now they have to pay more. Young staffers may pay less.

Small business owners save using the web

The Insureon Small Business Institute study shows that the market for the nation's smallest businesses saw overall price increases of 2%, slightly lower than the increases reported for the overall small business insurance market. "The online market for small business insurance is strong and healthy," said Ted Devine, CEO of insureon. "More business owners are comfortable purchasing coverage online, and these [SCIOP Index] numbers show that going online to make that purchase is a smart decision from a financial standpoint for owners of the nation's smallest businesses."

SCAMS           “Deficits don’t matter” Republican Godfather, Dick Cheney, 2002

Bush wars increased the debt by $4-6 trillion to $16 trillion. 1985 debt $3 T, same as 1945.

Why regulation is necessary!

Merrill Lynch settles SEC charges to the tune of $132 million over misleading investors about three structured debt products. The hedge fund, Magnetar Capital, hedged its stock positions by shorting against the collateralized debt obligations known as Octans I CDO Ltd. and Norma CDO I Ltd., that Merrill Lynch was selling to its clients, according to the SEC. When your broker offers the next Octans I, ask the SEC if OK.

States sold our highways to investors—investors have no risk and all cash? We lose!

States have agreed to pay investors fixed amounts instead of the tolls. If no traffic, states must still pay. FL taxpayers pay extra $13 m according to some. IN, IL, NY, NJ giving private investors the road projects since taxes can’t be raised. Traffic falls—bankruptcy.

http://www.businessweek.com/articles/2013-12-12/private-toll-road-investors-get-low-risk-deals-from-states

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

How did your Wall Street guru do?

How did your Wall Street guru do?  Stock traders can't make you rich

*Few stock-picking gurus do well for long
*Last year's genius is this year's loser
*Gurus' forecasts are correct less than 50% of the time
*Gurus attract money which then dilutes high returns
*Computer trading beats the best gurus consistently
Warren Buffett used compound interest to become wealthy.
“My wealth has come from a combination of living in America, some lucky genes, and
compound interest.” Warren Buffett

You need just $250 a month (and compounding) to reach your lifetime money goals.

http://www.amazon.com/How-your-Wall-Street-guru/dp/1490533273/

Is your mutual fund still around?

Only one mutual fund company has increased its presence in the top 10 funds since 1998.http://www.investmentnews.com/article/20130623/CHART/130619921

Putnam, American Century and Fidelity Advisor have dropped off the list by 2013.http://www.investmentnews.com/article/20130623/CHART/130619920

You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time. Abraham Lincoln 

Wall Street gurus don’t last but your retirement does.

Idaho ObamaCare policy $240/mo. average

Health insurance policies sold via Idaho's insurance exchange starting Jan. 1 will cost around $240 monthly, a figure based on packages submitted so far to the state Department of Insurance by insurers aiming to participate. For instance, a family of four making $60,000 headed by a 40-year-old would likely be eligible for a government tax credit of $7,193 toward their annual premium of $12,130. That means they'd pay $4,937, about 8 percent of their income, or $410 monthly. Meanwhile, lower-income families would make lower payments, with help from the government's sliding-scale subsidies provided for those who earn less than 400 percent of the poverty line.

Almost 70% of Millennials Have No Retirement Plan—NOW only $9 a day

Millennials, young people 30 and under, are coming of age in a world vastly different from that of their parents and grandparents. 54 percent have had some college education, compared to only 36 percent of "baby boomers" (those ages 50-64) at their age.  39 percent are nonwhite. 90 percent use the Internet at least occasionally, compared to 79 percent of boomers, and 75 percent use social networking sites, compared to only 30 percent of boomers. And, due to a flagging economy, they are less likely to be employed than previous generations were at their age. The unemployment rate for those ages 18-24 is nearly double the overall rate (16.3 percent compared to 8.8 percent). http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

HSBC bank put its advisors on salary

HSBC has taken a move that many in the industry have long considered unthinkable: it has put all of its advisors on salary. Under a new compensation structure, advisors are paid a salary plus a quarterly discretionary bonus, marking a huge shift from being paid solely on commission. All non-US advisors are salaried. But observers suspect that there are other reasons for the shift. Some say the desire to more closely align client and advisor interests may have prompted the change. Without commissions, the fear or perception that advisors are “churning/spinning accounts” or suggesting products and services merely to increase their production is removed. Some investors are getting the advice and then doing it themselves:http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

ER—the new health care system?

Record numbers of Americans are going to emergency rooms for dental treatment, which is straining the nation's health care system and increasing health care costs. Half the states have declined to expand Medicaid to the uninsured with federal dollars. Uninsured in these states will expand their use of the ER as their health care system. GOP lawmakers have provided no other option for the poor.

ObamaCare mandate delayed 1 year

The mandate would require most businesses with 50 or more full-time employees to provide health insurance meeting certain minimum criteria — or pay a penalty of $2,000 per worker. The purpose of the employer mandate is to discourage employers from dropping coverage and leaving employees to buy subsidized insurance in the Obamacare exchanges at greater taxpayer expense. The delay does not affect the individual mandate, the requirement that most Americans purchase insurance, nor does it halt the implementation of marketplaces where individuals and businesses can sign up for insurance coverage. 

GAO reports corporations enjoyed a 12.6% tax rate

This is far below the 35% tax that is the statutory rate imposed by the federal government on corporate profits. The report found that even when foreign, state, and local taxes were included, the tax rate of large companies rose only to 16.9 percent of total income, still well below the official 35 percent. Big companies are shouldering a smaller part of the overall tax burden than in the past. As a percentage of federal tax revenue, corporate taxes have fallen to 9 percent from more than 30 percent in the 1950s.

66% of US corporations pay NO tax. Working Americans are forced to close the gap as their average inflation-adjusted wages have fallen. Pay only your fair share: http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976/

SCAMS           “Deficits don’t matter” Republican godfather, Dick Cheney, 2002

Bankers gouge our soldiers for $6.5 millions

Obama’s new regulator, Consumer Financial Protection Bureau said it has ordered U.S. Bank and another company, Dealers' Financial Services, to refund a combined $6.5 million to more than 50,000 active duty service members to make up for failing to disclose fees and other costs on auto loans. Borrowers who were "often young and new to the car buying process."

Shame! Boycott U.S. Bank!

Obama’s new regulator OK with derivatives that could cost us taxpayers again!

Securities and Exchange Commission head, in her first commission vote, Ms. White led the commissioners in approving a proposal that, if finalized, could leave investors and taxpayers exposed to the ravages of reckless bank trading. Congress has a bill that would ask Obama to list the banks, foreign and domestic that could cause a system failure. http://www.nytimes.com/2013/05/06/opinion/a-disappointing-debut-at-the-sec.html?_r=0

Obama haters tell NFL not to help uninsured—and they comply

The league’s response came following receipt of a letter sent last week by two Republican Senators warning that the NFL could undermine its nonpartisan reputation by getting involved in an issue marked by “divisiveness and persistent unpopularity.”

“It is difficult to understand why an organization like yours would risk damaging its inclusive and apolitical brand by lending its name to (the ACA’s) promotion,” Sens. Mitch McConnell (R-Ky.) and John Cornyn (R-Texas) wrote in a letter to six major sports organizations, including the NFL and Major League Baseball.

Where are the pro-citizen Senators?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Congress lets our corporations pay only 10% tax

Why does the Congress allow corporations to use gimmicks to pay less tax than we do?

Apple paid just $3.3 billion on $34.2 billion of profits in 2011— giving it a tax rate of just 9.8 percent. Nearly every major technology firm has its share of tax tricks up its sleeve. Apple accomplishes this feat with a two-pronged tax strategy. For domestic sales, the company pays profits as a royalty on a subsidiary it owns in Ireland, which are then routed to a tax haven. For overseas sales, the company uses a second Irish sub, routes the profits through The Netherlands to avoid European taxes, and then sends its profits to its tax haven via the first Irish sub. This sub is called a “disregarded entity”—an affiliate not subject to U.S.income tax. (This strategy is called the “Double Irish with a Dutch Sandwich,” the report says.) Warren Buffett pays only 17% total tax, Mitt Romney only 14%, and John Kerry only 13%.

Isn’t it time you used IRS rules to your advantage too? http://www.amazon.com/Your-ZERO-Tax-Account-Wealthy/dp/1482772795

Why do high-fee money managers using no-fee index funds charge fees?

The latest buyers of index funds called ETFs are those managers who say, “We can pick the right stocks and beat the market, so pay us 2-3% of your balance annually.”

More than 100 mutual funds hold SDPR S&P 500 (SPY), while more than 70 portfolios use iShares iBoxx High Yield Corporate (HYG). Mutual Funds with ETF stakes include Columbia Dividend Income (LBSAX), Monetta (MONTX) and Vanguard Windsor II (VWNFX). ETF provider SPDR says that 21 of the 25 largest fund companies hold at least some ETFs. The managers could bid for individual securities, but, they figure, it is simpler just to buy an ETF. So why are they still charging us the full load?

Duh—because they can.  

Switch to the real thing AND pay no income taxes on your gains—EVER! http://www.amazon.com/Reboot-Switch-Tax-FREE-investing-ebook/dp/B00CV612SU/

Do you own any of these funds?

Here are 10 funds that lag their low-cost index because they charge too much. 

Here are 12 real dogs that have lost you money (-8% to -14%) in the last 5 years AND still charged you 2-3% per year. It is enough to make you cry or quit!

Now there is an answer. Buy and hold ten low-cost funds earning 10-12% a year. Accumulate $400,000 in 25 years. http://www.amazon.com/Keep-More-What-Earn-ebook/dp/B009A9YR10

Hedge funds earn 5.4%, index earns 15.4%; amateurs beat “professionals”

Hedge funds’ returns have stayed “lackluster” this year, with the $2.3 trillion industry trailing the gains of the Standard & Poor’s 500 Index by about 10 percentage points, according to Goldman Sachs. Hedge funds gained 5.4 percent on average through May 10, compared with a 15.4 percent rise for the S&P 500 (SPX) and a 14.8 percent increase for the typical mutual fund, a team of Goldman Sachs analysts said.http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Why are early retirees robbing their IRAs?

48 percent of people who were aged 61 to 70 and in the bottom half of the income distribution withdrew money from their IRAs annually during the period studied (2002-10). Even in the top quarter of incomes, 29 percent of people aged 61 to 70 annually pulled money out of their IRAs, EBRI said.

The sizes of the withdrawals were substantial, too, ranging from 12 percent of funds for young seniors in the top quarter of incomes to 17 percent for those in the bottom quarter.

Older seniors (aged 71 and up) appeared to be more frugal, according to the EBRI study. The Internal Revenue Service requires people with ordinary IRAs to make minimum withdrawals each year starting at age 70½. Many of the older seniors withdrew just the minimum—and then stashed some of the proceeds into other forms of savings. Save $3,000 a year on financial services to rebuild your funds:http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

CA pension firm’s long-term care insurance premium up 85%

People who bought long-term care insurance from CalPERS 10 or 20 years ago, thinking it would provide security in their old age, are stunned to learn the agency is raising rates by 85 percent over two years. What are the alternatives? http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

CA cites initial premiums for ObamaCare insurance

In southern Los Angeles, for example, a 40-year-old individual would pay anywhere from $242 a month for a plan from HealthNet to $259 for plans from Molina or Anthem. The comparable plan for a small employer costs $362. http://www.nytimes.com/2013/05/24/business/california-puts-tentative-price-on-health-policies-under-new-law.html?emc=tnt&tntemail0=y&_r=0

How does your retirement look? Need more assets?

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. 

http://www.amazon.com/Your-Retirement-Budget-Investments-Income/dp/1483946487

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

NJ hospital tops medical cost listing

Bayonne (N.J.) Medical Center, a 278-bed, for-profit hospital in a working-class city, charges the highest prices of any hospital in the nation, according to an analysis of federal billing data released by President Obama's administration. Based on the bills it submits to Medicare, the Bayonne Medical Center charged the highest amounts in the country for nearly one-quarter of the most common hospital treatments, according to a New York Times analysis of 2011 data, the most recent available. No other hospital was at the top of the price list more often.

Health plans sold by United States Benefits are bogus; premiums returned

Fake health plans go by many names. Check the details with your state insurance regulator.http://www.consumer.ftc.gov/articles/0165-discount-plan-or-health-insurance

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com