Koch Bros: America is "welfare for the rich"

Koch Bros believes America is built on “welfare for the rich”

“I believe that cronyism is nothing more than welfare for the rich and powerful, and should be abolished," Charles Koch wrote. He claims he has “spent decades opposing cronyism and all political favors, including mandates, subsidies and protective tariffs.” Yet the Koch Brothers have relied on $88 million worth of government subsidies (our taxes) for years and pay $ millions for elections to keep subsidies. They oppose cleaning up the environment they profit from while they destroy it!

Are you losing 63% of your retirement earnings to Wall Street?

How much of your retirement are you giving away?

Costs matter: Broker/advisor/trading cost 1% to 3% every year.

If you use a salesperson, costs can take HALF your money!

$3,000 per year @11%    for 33 years = $1,018,177

$3,000 per year @11-1% for 33 years = $778,768

$3,000 per year @11-2% for 33 years = $613,805

$3,000 per year @11-3% for 33 years = $486,634

Compounding the average market returns of 11% is what turns your $3,000 a year ($99,000) into $1 million over time. No tax when you use an IRS tax haven. http://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X

Help for your student in school

Get $2,500 per year for each student during first 4 years. 40% is refundable so you get up to $1,000 even if you do not owe any taxes. Or get $2,000 credit on your tax return for a lifetime of education—even adults can take it every year. Must be legit school and expenses so check http://www.irs.gov/uac/Am-I-Eligible-to-Claim-an-Education-Credit%3F. Also deduct student loan interest up to $2,500 a year. Parents or child can take credits so check out both ways http://www.irs.gov/Individuals/Education-Credits-AOTC-LLC Keep receipts for expenses for school.

Perfect gift for your grandchild

$1,000,000 costs you only $16,000 when you use Compounded Cash over time. Invest $16,000 by age 25 and let it grow to $1 million. See what it looks like at saferchild.org/power/.  http://www.amazon.com/Compounded-Cash-Save-your-Self-Funded/dp/1515066096

2016: America’s real reality TV show—“you just can’t make this stuff up”

Debate summary 10 of the best GOP have “debated”—compare 12 Angry Men: the bigot, racist, sadist, flip-floper, stockbroker, marketer, immigrant, working poor, bleeding-heart, senior, businessman, and architect. GOP candidates positions in own words, just to be accurate. Carson called for 10% income tax and Huck wanted sales tax (VAT in Europe) to replace income tax is a GOP standard. http://time.com/3988276/republican-debate-primetime-transcript-full-text/

Ronald Reagan to Obama: “Just don’t sell Iran arms under the table like I did.”

GOP wants war but …

Robert Gates, who led the CIA under George H.W. Bush before becoming George W. Bush and Barack Obama’s defense secretary, has said bombing Iran could prove a “catastrophe,” and that Iran’s “capacity to wage a series of terror attacks across the Middle East aimed at us and our friends, and dramatically worsen the situation in Iraq, Afghanistan, Lebanon and elsewhere is hard to overestimate.”  

Meir Dagan, who led Israel’s external spy service, the Mossad, from 2002 to 2011, has warned that an attack on Iran “would mean regional war, and in that case you would have given Iran the best possible reason to continue the nuclear program.”

In the aftermath of a military strike, he added, “The regional challenge that Israel would face would be impossible.”

Bush wants to cut women’s health funding: "I'm not sure we need half a billion dollars for women's health issues."  Liz Warren shames GOP on women—back to the ‘50s?

Americans respond with donations to Planned Parenthood despite Congressmen!

Christie PAC gets paid for Christie deal to take $225 m instead of $9 billion from Exxon.

He is booed by 60,000 at Monmouth park as gives Pharoah a trophy. He still thinks boo means voters want him to stay on as Gov and punch teachers in nose and end SS as we know it.

Who rules America?

Last weekend, Koch Industries got the rich together to decide how the GOP will win in 2016. Donors are secret, so foreign countries could be deciding our next Pres.

Follow the money: Election scorecard Bush vs Clinton ($ millions)

Study illustrates that the rich and powerful influence policy more than voters. Citizen’s United decision just made it legal to buy elections, like the Bush coronation in 2000. (The votes were not counted. If they had counted them, America could have avoided 2 wars, 2 tax cuts that raised deficit by $8-10 trillion.)

TX voter ID law violates our civil right to vote, court says

GOP strategy to keep DEMs from voting took a blow. TX can’t keep voters from voting based on new forms of ID and regs.

GOP to get Supremes to SUPPORT global warming for planet via lawsuit

Obama will use lower emission rules as leverage with other big economies — China, India, Brazil, South Africa, Indonesia. Our rules could make America a leader again … except for 5 old men. GOP tells states to ignore Pres request for plans. “Sue to stop him”

Shopping for health insurance becomes normal

State-based marketplaces were overall quite successful in retaining enrollees, however, a large number of consumers shopping within the marketplace during 2015 open enrollment decided to switch plans based on the price of services offered. You can save by shopping just like buying a TV. Plans and doctors change in this new world. Even business owners can shop at https://www.healthcare.gov/small-businesses/provide-shop-coverage/ You may still be able to buy at https://www.healthcare.gov/screener/

Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Is it time to cancel your PMI?

Drop it when you have paid 20% of your home value as defined in this rule. http://files.consumerfinance.gov/f/201508_cfpb_compliance-bulletin_private-mortgage-insurance-cancellation-and-termination.pdf Since the HPA applies only to residential mortgage loans consummated on or after July 29, 1999, standard 30-year mortgage loans would not have started becoming eligible for final PMI termination under this provision until August 2014. Better ask your servicer for the exact date you can cancel.

Your good credit score can CUT your car insurance cost in HALF

CR tested 2 billion rate quotes and found a poor score can double your costs. See your state for best firms: http://www.consumerreports.org/cro/car-insurance/credit-scores-affect-auto-insurance-rates/index.htm#creditmap Shop for ALL your discounts to lower premium every 2 years: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Need your income tax information for loan, school, home?

Get return transcript by mail at http://www.irs.gov/Individuals/Get-Transcript

You need your Social Security number, date of birth, and address from your latest tax return.

Your tax refund can be worth $500,000 later when you need it

Yes, your refund, averaging $3,116, can grow to half a million dollars by compounding simple market index returns and not paying Wall Street a fee every year. According to Dalbar’s QAIB study, index investors using low cost providers earned 11% per year since 1983. Investors using Wall Street earned just 3.79% and over time will give up 63% of their potential nest egg. You don’t need to pay for success anymore. Start with $9 a day today! It is your money so keep all your earnings: http://www.amazon.com/The-Pimps-Wall-Street-middlemen/dp/151525254X

Did your bank reject your mortgage modification too?

New report says banks blame “do not qualify” on customers and customers say “paperwork is lost or misplaced often.” Delaying a borrower’s loan modification request can be profitable for a bank.” Courts agree. Like health insurers, delay, delay delay just wears us out and we quit trying to get what we deserve. Regulators wash hands with bank notes. 

CR tested 4 robo call blockers

One works well and is FREE: it blocks 10 calls a day for us.

Example: http://whocallsme.com/Phone-Number.aspx/6083716666

3-D printing Drugs now?

The Food and Drug Administration has approved the first prescription drug made through 3-D printing: a dissolvable tablet that treats seizures. They still charge a lot.

Stoners are OK

With years of research and observation, scientists have finally figured out that the chronic and prolonged use of marijuana by the young people is NOT not related to any sort of health conditions. Toke?

Religious sacrifice in FL?

Investigators in the Florida Panhandle are looking into the deaths of a woman and her two adult sons as a ritualistic killing that could be connected to the recent blue moon.

SCAMS        

IRS has documented more than 4,000 tax scam victims who have collectively reported over $20 million in financial losses. IRS says “think twice before answering suspicious phone calls, emails or letters.” Scammers pose as IRS agents with fake caller IDs, badge numbers, titles, letterhead, mailing address, etc to get paid. They threaten police arrest, deportation, license revocation, etc. Confirm you owe at Treasury Inspector General for Tax Administration (TIGTA) at 1-800-366-4484. 

America needs to take care of American’s needs FIRST

Can we afford to keep paying $700 Billion a year for WWII deployments? That is 27 cents of each dollar in taxes—the largest part of our money—and we aren’t even at war. We could pay off our debts and fix our schools, roads and bridges! 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.

We are spending $8 million per HOUR on our wars in Iraq/Afgan

The War on Terror requires special forces attacks on top terrorists at their homes like Obama’s al-Amr May14 Abu kill. Iraq proved converting a nation to Western-style republic doesn’t work. The troops we trained ran away, left our stuff. Training and more stuff for what? Former Saddam army now ISIS. We are wasting $4 billion a year on Afgan tribal rivalries; paying ransom to Al Qaeda; supporting corruption with our money.

We are building another military base for Japan at Henoko. Air Force Gen. Ronald Fogelman admitted that the Marines “serve no military function there. They don’t need to be in Okinawa to meet any time line in any war plan.”

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 to defend themselves.

We are now training Ukrainians in Ukraine—Mission creep

Afghanistan started the same way—just training, and then guarding trainers, then supply trainers, then supply U.S.-built Stinger antiaircraft missile to the mujahideen, and eventually $200 million for fiscal year 1992 alone. $4 million/hour- $778 billions so far.

Fiat profit up 69% but at Jeep and Ram customer expense—sells Ferrari

23 recalls covering more than 11 million vehicles caused record fines of $105 million (not counted in profits). Ferrari follows Porsche for SUV success!?! Image?

Regulators find NDG Enterprise Collected Money Illegally and wants payday loans back.

Wells to hold your money

Advisors at Wells Fargo will stop transactions where they suspect elder fraud even if they don’t have the legal authority, company managing counsel Beverly Jo Slaughter said Thursday. “We try to be creative,” she said.

Wells Fargo fined $500,000 for not telling the whole story

Wells to give back $242,000 to 66 customers who lost money in “structured repackaged asset-backed trust securities” (STRATS), which paid a variable interest rate from 3 to 8 percent. Sales did not disclose the fact that investors could lose money because of termination fees.

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

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

Is it not time you paid your fair share?

7,000 millionaires did not pay income tax in 2011—How about you?

Over 275,000 returns showed adjusted gross incomes of $1 million or more. Roughly 7,000 millionaires didn't pay any income tax in 2011. More than 11,000 individual tax returns reported adjusted gross income above $10 million yet most pay LESS than us.

Is it time you paid your fair share?

Use your refund to create a tax-FREE income. The average tax refund was $2,953. Start your account today.

Your Retirement Portfolio: Tax-FREE Income for Life

+Earn 10-12% on your retirement money with no taxes or fees.

+Use a tax-FREE account to protect all your earnings and gains.

+Spend 8% of your nest egg FREE of income tax annually.

+Avoid tax on up to 85% of your Social Security benefits.

+Turn your taxable pension or IRA into tax-FREE income.

http://www.amazon.com/Your-Retirement-Portfolio-Tax-FREE-Income/dp/1483994090/

Obama will trade our contributions for a sound retirement for GOP support

President Obama next week will take the political risk of formally proposing cuts to Social Security andMedicare in his annual budget in an effort to demonstrate his willingness to compromise with Republicans and revive prospects for a long-term deficit-reduction deal, administration officials say. Compromise never worked with GOP before.

Perhaps we should start building our own sound retirement. http://www.amazon.com/Your-Retirement-Mutual-Funds-retirement/dp/1481114026

Housing growth spurs economy

The price of U.S. homes rose by 8.1% in January from a year earlier, the biggest annual price gain in six and a half years. The main drag on sales contracts was a shortage of properties for sale. NAR predicts that housing starts would have to rise 50% to resolve the inventory shortage. 

New insurers and rates with ObamaCare exchanges

California chastised Anthem Blue Cross for levying a 5.2 percent health premium increase on its small business customers. CT has a new nonprofit health insurance company sponsored by state physicians' groups and intended mainly to provide coverage for individuals and small businesses.

Are you paying higher premiums due to DMV errors?

Car insurance companies make millions from us paying higher premiums than we should, due to errors existing on our driving record. A survey of driving records conducted by the Insurance Research Council (IRC) showed that one in five convictions for traffic violations may contain errors from motor vehicle records. The IRC looked at driving records in four states, Connecticut, Florida, Ohio, and Washington. The study showed that convictions for driving infractions were either incorrectly entered or were missing from driving records. Errors can boost an average policyholder’s auto insurance premiums by as much as 22 percent. One insurance quote company provides free information about fixing your record:  http://quote44.com/driving-record-repair

There is only one way to find out if you are paying too much. Use our Insiders’ Guide to buy only what you need with discounts: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Do you have an insurance question?

You have a question but you don’t want to call your agent or insurer. Try this free site.

http://www.insurancelibrary.com/

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

“Entitlements”—our Social Security and Medicare money—did not produce the deficits. Two tax cuts for the rich and the Chaney/Bush wars cost $3.7 Trillion and counting.

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

We never learn

The House Agriculture Committee debated and passed seven bills designed to roll back derivatives regulations that were created by Congress three years ago in the Dodd-Frank financial reform bill. Derivatives allow banks to place leverage bets on anything that can be measured. Last year, Morgan Chase lost $8 billions of deposits on derivatives. Buffett called derivatives "weapons of mass destruction." 

Who owns your account now?

Genworth Wealth Management, Altegris, to Aquiline Capital Partners and Genstar Capital. 

American Family policies to Kansas City Life Insurance 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Save when you invest for college

Where do you invest for college?

About 60% of all financial advisers send clients to direct-sold plans, according to survey results released Feb. 11 by Financial Research Corp. The survey of 293 advisers is the first to quantify how advisers are contributing to an increase in assets flowing into direct-sold plans. Direct plan 529 are commission free. Some have very low investment fees too. Even paid advisors realize you get more for your money when you don’t pay them for advice you don’t need.

Save $20,000 with the right plan: http://www.amazon.com/Education-Funding-Save-right-plan/dp/1482549956/

Education Funding: Save up to $20,000 with the right plan

++Most public college students pay less than $10,000.

++Save $20,000 on the cost of private schools.

++Use your Wealth ReserveTM for tax-FREE cash.

++Accumulate $100,000 tax-FREE in 15 years to cover most expenses. 

      Never give up your retirement savings to pay for college. There are no low-cost student loans for retirement. Let a tax-FREE account and the power of compounding help you help your kids pay for their educations. Why not let them provide as much of the cost as they can? After all, they will be the ones that double or triple their lifetime earnings because of this education. And, studies show students get more out of it when they pay for it. Dan Keppel http://www.amazon.com/Education-Funding-Save-right-plan/dp/1482549956/

GE to charge women more for LTCi

Genworth Financial, the largest long-term care insurance company in the United States, will soon implementgender-specific pricing, or charging higher rates for women when applying individually for long-term care insurance coverage. GE plans to start charging women applying for coverage as much as 40% more than men. This reflects the fact that women are paid two out of every three benefit dollars. They live longer and often have no caregivers at home. A few large insurers, including Pru and MetLife have quit selling new policies; others have raised rates dramatically on existing policyholders. There are other reasons families might have to shell out more. "Insurers are eliminating certain discounts, and the underwriting is getting tougher,” one seller said. Consider alternatives before buying—there are no refunds if premiums explode:http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Does a traffic ticket always raise your auto premium?

Only 31% of Americans who received a traffic ticket in the past five years are paying more for car insurance as a result, according to new research. Most carriers check young drivers' motor vehicle reports every six months, whereas many carriers do not regularly check older drivers' records. More than one-third of 18- to-29-year olds reported one or more traffic tickets in the past five years, the highest percentage of any age group surveyed. You can go to safety school, ask for legal help, and avoid tickets for 5 years to reduce your points. People who commit several smaller violations are also more likely to face higher car insurance costs. Not all insurers are the same so shop: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Mega Life policy owners to see ‘mega’ rate hike to 47%

About 7,000 Maine customers of Mega Life and Health Insurance will be affected by a rate change set to take effect March 1. While some policyholders will see their health premium costs drop by nearly 33 percent, others will be hit with rate hikes of up to 47 percent, according to Mega's filing with the Maine Bureau of Insurance. The average rate increase across all policyholders amounts to 6.5 percent. Time to shop?http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/

Regulator’s delay costs us every month

A recently released independent study estimates that the SEC delay in promulgating a fiduciary standard is costing investors about $1 billion a month in retirement savings.  More information is available here. This paper found investors earned, on average, 1% more per year by buying mutual funds directly instead of through a broker. We don’t need Wall Street salesmen anymore: http://www.amazon.com/Go-Tax-FREE-Investing-Income-Forever/dp/1482633280/

Retirement plan costs going down but still high

The average total plan cost for a small retirement plan (50 participants) declined from 1.47% to 1.46% over the past year, while the average total plan cost for a large retirement plan (1,000 participants) declined from 1.08% to 1.03% over the past year according to the 13th  Edition of the  401k Averages Book. The study shows the small plan average investment expense went from 1.38% to 1.37%, while the large plan average investment expense declined from 1.05% to 1.00%. Since most pension funds pay less than ¼ of 1%, these 401k plans are still too high. Low-cost investments accumulate more for you than high-cost plans. You may be better off to Go TAX-FREE with your own plan free of income taxes forever: http://www.amazon.com/Go-Tax-FREE-Investing-Income-Forever/dp/1482633280/

Convert your 401k to the Tax-FREE Forever Roth 401k

Now you can make a Roth conversion as long as your employer plan has a Roth option (i.e. 401(k) to Roth 401(k)). Consider: 1) In-plan Roth conversions CANNOT be recharacterized (reversed); 2) Do you have the money to pay tax on the conversion; 3) Roth employer plans HAVE required minimum distributions (RMDs) when you retire; 4) You can utilize this provision for longer TAX-FREE growth in a Roth plan. Ask your accountant for help in this decision. Perhaps you can convert a little every year. All of your future nest egg could be FREE of taxes.

Is it time to take your benefits?

The assets in the Social Security trust funds are expected to be exhausted in 2033, according to the Social Security Board of Trustees' annual report. After that, incoming tax revenue will provide enough income to pay out about three-quarters of promised benefits. Check your annual statement:  http://www.ssa.gov/myaccount/

Medicare Advantage plans expand

Nearly 14.6 million people were enrolled in Medicare Advantage plans as of February 2013, 28.5% of the 51.1 million people eligible for Medicare.

Consumer Reports top car brands

Lexus vehicles are rarely sporty, but they earned the top score of 79 points out of 100 because of plush and reliable vehicles, the magazine said Tuesday. Subaru and Mazda were tied for second place with a score of 76. Toyota and Acura, Honda's luxury brand, rounded out the top five tied at 74. Honda and Scion were next at 72, followed by Audi and Nissan's upscale Infiniti brand, both at 70. Mercedes-Benz finished 10th with a score of 69. The ratings of 26 automotive brands, closely watched by consumers, are based on the magazine's average road tests and predicted reliability scores from surveys of subscribers. Detroitautomakers didn't fare very well in the magazine's rankings. Cadillac was the best U.S.-based brand, tying for 14th place with Hyundai, scoring a 63.

OK to arrest any insurer complying with ObamaCare??????????????

Any federal official or corporation employee would be charged with a felony if found to be providing services that comply with the federal Affordable Care Act, according to a bill that won the approval of an Oklahoma legislative committee. http://newsok.com/oklahoma-measure-intended-to-stop-national-health-care-law-advances/article/3759368

NH bans TALKING about ObamaCare exchanges?????????????????

New Hampshire state law bans officials from discussing, planning or enabling a state-based health insurance exchange, but a bill would end the gag order as a first step to exploring the possibly of a state-run electronic marketplace. http://www.nhpr.org/post/nh-lawmakers-weigh-bill-allowing-state-based-health-exchange

AK to let insurers use credit scores for renewal premiums like other states

Insurers would be able to consider someone's credit score when renewing personal insurance policies under a bill in the Alaska Senate. Forty-seven other states allows insurance companies to look at credit history when reviewing a new policy application, but Alaska is the only one that doesn't allow companies to consider that information when a policy is renewed. "In most cases, most consumers have good enough credit that they either are not going to be affected by their credit score, or they're going to pay less for insurance because they're going to represent a better risk than they would if we didn't use it," a trade group said. Gary Strannigan, Liberty Mutual, told the committee that studies show that credit score is an accurate predictor of risk.

Feds to protect seniors on ObamaCare premiums

The Feds are going ahead with new limits on what health insurers can charge older consumers under the Affordable Care Act. Age rating effectively limits how much premiums can vary based on a person’s age, meaning insurers can no longer charge older individuals proportionately higher rates than younger people. ACA caps the ratio at 3 to 1. The provision, along with the brunt of Affordable Care Act law, goes into effect in 2014. The idea is that the young and insured pay more so that older individuals pay less. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

ObamaCare five key provisions are applicable to new health plans only:

•           Guaranteed Availability

Nearly all health insurance companies offering coverage to individuals and employers will be required to sell health insurance policies to all consumers. No one can be denied health insurance because they have or had an illness.

•           Fair Health Insurance Premiums

Health insurance companies offering coverage to individuals and small employers will only be allowed to vary premiums based on age, tobacco use, family size, and geography. Basing premiums on other factors will be illegal. The factors that are no longer permitted in 2014 include health status, past insurance claims, gender, occupation, how long an individual has held a policy, or size of the small employer.

•           Guaranteed Renewability

Health insurance companies will no longer refuse to renew coverage because an individual or an employee has become sick. You may renew your coverage at your option.

•           Single Risk Pool

Health insurance companies will no longer be able to charge higher premiums to higher cost enrollees by moving them into separate risk pools. Insurers are required to maintain a single state-wide risk pool for the individual market and single state-wide risk pool for the small group market.

•           Catastrophic Plans

Young adults and people for whom coverage would otherwise be unaffordable will have access to a catastrophic plan in the individual market. Catastrophic plans generally will have lower premiums, protect against high out-of-pocket costs, and cover recommended preventive services without cost sharing.

These guarantees do NOT apply to your existing plan if it was grandfathered by ACA.http://www.commonwealthfund.org/Blog/Grandfathered-vs-Non-Grandfathered-Plans.aspx

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

Bernie Madoff urged his firm’s bankruptcy trustee and the U.S attorney concerned with the case to go after JPMorgan Chase. Madoff says he had used the account recurrently to funnel funds between his New Yorkand London offices. Bernie Madoff has mentioned on several occasions that JPMorgan Chase knew of the ponzi scheme, but the bank has in the past denied any knowledge of Madoff’s allegations.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Why we will NEVER be rich

Why we will NEVER be rich! 

Ten things we can do NOW to invest successfully

Why we don't accumulate $1,000,000 from monthly contributions.
Why we reduce our wealth by paying "specialists" to increase it.
Why we don't use the simple time-tested strategy of compounding.
Why we don't use a tax-FREE account and give up $300,000.

By Insider, Law Steeple, $12.95 http://www.amazon.com/Why-will-NEVER-rich-successfully/dp/1480185868/

Are you prepared for retirement of at least 20 years?

A new LIMRA study reveals that two-thirds of middle-income ($40,000-$99,999) American workers are saving less than five percent of their annual income for retirement – with nearly a quarter saving nothing at all. “These results, while not surprising, are very troubling,” said Matthew Drinkwater, associate managing director, LIMRA's retirement research. “Less than 30 percent of American workers have a traditional defined benefit retirement plan….” One in four workers ages 18-34 reported not saving at all for retirement. You can make a plan in 1 hour: http://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285

CA health insurers line up to compete in new exchanges

CA officials, and those in other states, are eager to flex their purchasing power under the federal healthcare law by selecting only certain individual and small-business health plans for 19 different regions across California. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Fewer investors using paid advisors—they trust family/friends???

According to a new survey, just 21 percent of investors say they use a financial professional as their primary provider of investment advice, down from 25 percent in 2011. Usage dropped sharply among households with $100,000 to $500,000 and $2 million plus in investable assets. Nearly six in 10 (57 percent) investors rely on family and 47 percent turning to friends. Emerging investors put the most trust in friends and family, coming in at 64 percent for friends and 82 percent for family. Most firms experienced a decline from 2011 to 2012 with only Vanguard and T. Rowe Price making sizeable gains.“Investors just aren’t sensing enough value for their dollar,” Brown adds. “They lack an understanding of financial services' costs of goods sold, which are impossible to estimate without a tangible product to evaluate. Therefore, they often assume they're being ‘ripped off’ by firms [that] offer professional advice.” Not a bad assumption. But using family/friends may not be wise. That's how Madoff clients got in trouble Trust yourself not salesmen: http://www.amazon.com/Do-Yourself-Personal-Finance-commissions/dp/1480156493/

Landmark Medicare Settlement Could Change Lives
Under the settlement of the lawsuit, Jimmo v. Sebelius, the U.S. Department of Health and Human Services has agreed to relax Medicare's requirements for coverage of skilled nursing and therapy services in institutional or home care settings. The key criterion for coverage will be a demonstrated need for skilled care - regardless of whether there is a recovery prognosis. That means patients already enrolled in Medicare Part A (hospitalization) who need care to maintain their current condition but aren't likely to improve will qualify for Medicare's standard benefits.

Insurers begin charging for texting while driving violations

The analysis found that, at one insurer, a texting ticket would cost a New York driver $58.50 more per year. At the second insurer, the presence of a texting offense meant having to pay an extra $74 annually. It depends on your state but insurers are looking for more premium. 

States must decide on our health care future NOW

Wisconsin faces a Nov. 16 deadline to inform the Obama administration whether the state will implement an online health care marketplace, or exchange, or let the federal government do it. Each state's exchange must be operational in 2014 under the health care law. Walker told reporters Wednesday in Milwaukee that he will be meeting with state officials this week to discuss the next steps. 

About 55 percent of Americans are covered through an employer; 31 percent have a public insurance plan such as Medicare or Medicaid, and 10 percent buy their own health insurance. The Congressional Budget Office predicts that 23 million people who don’t have health insurance now will get it on one of the exchanges. More than 18 million of them will qualify for a federal subsidy averaging $6,000 a year per person. People earning up to four times the federal poverty level can get a subsidy: that’s an income of $92,000 a year for a family of four. http://vitals.nbcnews.com/_news/2012/11/09/15028379-times-up-states-under-the-gun-on-health-exchanges?lite

IN stops enforcing law requiring auto insurance for drivers with no car

Regulators agree to a stay in a lawsuit filed by a woman whose license was suspended for not having insurance even though she didn’t own a car. State law requires the DMV to check at random to ensure that drivers suspended for lack of insurance have since obtained coverage.

Do you have storm damage?

Damage value that is less than your deductible will not be paid. Filing a claim for small amounts may result in a rate increase. Tax deduction may help. Only itemizers can take a tax write-off for damage to nonbusiness property, such as a principal residence or vehicle. And there are a couple of offsets that apply to personal losses. First, you must reduce the amount of the loss by $100. Then, you can deduct the balance only to the extent that it exceeds 10% of your adjusted gross income. For example, if you have $20,000 in unreimbursed casualty losses from Hurricane Sandy and your AGI is $100,000, you would first subtract $100. Then, you would subtract $10,000 (10% of your AGI) from the $19,900 balance. The remaining $9,900 is the amount you can deduct on Schedule A of your tax return. Use IRS Form 4684 to report your casualty losses, and then carry the amount over to Schedule A.http://www.irs.gov/pub/irs-pdf/p547.pdf

IRS agrees to wait for your tax payments if emergency

The tax relief postpones various tax filing and payment deadlines that occurred starting in late October. As a result, affected individuals and businesses will have until Feb. 1, 2013 to file these returns and pay any taxes due. This includes the fourth quarter individual estimated tax payment, normally due Jan. 15, 2013. It also includes payroll and excise tax returns and accompanying payments for the third and fourth quarters, normally due on Oct. 31, 2012 and Jan. 31, 2013 respectively. It also applies to tax-exempt organizations required to file Form 990 series returns with an original or extended deadline falling during this period. http://www.irs.gov/uac/Tax-Relief-in-Disaster-Situations

Ford hits bumps in CR Reliability study—only Jaguar is worse

Ford has gone from being in the Top Ten of most reliable cars, a record they’ve enjoyed for quite some time to now being the second to last out of all cars. It’s thought that all the new bugs getting worked out of the MyFord Touch system and issues with their stable of new products is what has contributed to the extreme drop in the Ford lineup. Jaguar came in last place. “Ford’s bumpy road can be seen in the numbers. Sixty percent of Ford-branded models and half of Lincolns were below average in predicted reliability, and none placed above average,” said Jake Fisher, director of automotive testing for Consumer Reports. http://automotivediscovery.com/ford-rated-second-worst-for-reliability-according-to-consumer-reports/9215417/

Auto insurance rates down—compare your rates

A drop in vehicle theft along with factors such as insurers ability to assess risk; safety and anti-theft devices; and new products such as pay-as-you-drive policies, are all having a positive impact on auto insurance rates, leading to the lowest cost when adjusted for inflation in 20 years, said Loretta Worters, vice president of the Insurance Information Institute, a trade group sponsored by the property/casualty industry. Worters said auto insurance costs fell in the five years prior to 2009, the last year for which data is available. She said III is forecasting average annual cost of U.S. auto insurance coverage in 2012 will total $839, less than what the typical U.S. driver spent on coverage in 2004. But when adjusted for inflation, costs are expected to be 19% lower in 2012 than 2003. Time to shop: http://www.amazon.com/Vehicle-Insurance-Beware-Coverage-ebook/dp/B009MA9FY6/

Is your auto insurer doing a good job?

Claimant satisfaction with their auto claims experience has increased from last year, driven primarily by an improvement in their perceptions of the fairness of settlement terms, according to the J.D. Power and Associates 2012 U.S. Auto Claims Satisfaction Study^SM. The study measures claimant satisfaction with the claims experience for auto physical damage loss. Depending on the complexity of the claim, a claimant may experience some or all of the following factors measured in the study: first notice of loss; service interaction; appraisal; repair process; rental experience; and settlement. Amica and Erie head list as before. Esurance and Commerce are last.

http://autos.jdpower.com/content/press-release/qMmYBvg/2012-u-s-auto-claims-satisfaction-study.htm

Investor’s view of politics

Bill Gross is one of the most intelligent investors around today. This is his take:

http://www.pimco.com/EN/Insights/Pages/Time-To-Vote.aspx

Progressive’s view of Obama To Do List

http://www.cnbc.com/id/49725953

SCAMS           “Only the little people pay taxes.” Leona Helmsley

Will any of the criminals go to jail?

Countrywide is being sued for selling $12.5 billion worth of risky mortgages to Fannie Mae. Finally, someone is being sued for the mess they created in 2005.

http://www.nytimes.com/2012/10/28/business/the-perils-of-feeding-a-bloated-financial-industry.html?_r=0

What were they thinking?
Former oil exec becomes Archbishop of Canterbury 

Who owns your account now?

MetLife mortgage servicing business to JPMorgan Chase

ING Direct will become Capital One 360

Metropolitan Health Networks Inc  to Humana  

Sun Life (Canada) is seeking a buyer for its U.S. annuities business

Hartford Financial is offering to pay some clients to give up their variable annuities.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com