Wealthy use The Don for more tax cuts

Wealthy will likely vote for The Don just for the extra tax cuts

The wealthy would benefit most from his overall tax proposals, with the top 1 percent of income earners receiving, on average, a tax cut of $214,690 in 2017, according to the Tax Policy Center. The top 0.1 percent would get a tax cut of more than $1 million. Trickle-down econ (Chinese investors) will pay for Don’s plan. Clinton would increase taxes on the wealthy in several ways: She is proposing a 4 percent surcharge on incomes above $5 million, effectively creating a new top bracket of 43.6 percent. And those earning more than $1 million a year would be subject to a minimum 30 percent tax rate. She would also cap the value of many tax deductions for wealthier taxpayers. About 92 percent of her tax increases would fall on the top 1 percent. All the changes would increase taxes in 2017 for the richest 1 percent by $117,760, reducing their after-tax income by 7.4 percent, according to the TPC. Taxes for the top 0.1 percent would increase more than $800,000. Some middle- and lower-income households would see tax increases from Trump’s plan to eliminate the personal exemption and the filing status Head of Household. Most middle- and lower-income groups would see no change from Clinton’s plan. The Don used trick to avoid taxes we can’t use. We will never see his returns though. In any case, Do-Nothing Congress will decide to study any changes and just borrow from China.  

Set up your tax shelter now: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520

Is a retirement plan annuity right for you?

Many teachers and employees of non-profit institutions have no choice about their 403b retirement plan—they are forced to pay the higher fees of an accumulation annuity. For many of these annuities, the sales literature promises heaven—a guaranteed base return plus participation in stock market gains. You never experience a loss unless you take the money out. However, as you make your contributions each year, you realize that the reality is different—you are earning about what you would in a bank account. You earn the minimum, usually 1% but you pay 2.5 to 3 percent annual fees. And the extra you could earn if stocks soar is capped at 4-5%. This product was made FOR INSURERS’ HEAVEN not yours. You will not find your annuity math spelled out like this because no one would buy one. However, this is why accumulation (not immediate income) annuities are NOT recommended by honest advisors. In fact, the SEC has this warning for you:

The agent will also promise certain things (for a price): 1) you will receive a certain fixed amount when you retire or 2) if you die before you use your money, your heirs will receive a guaranteed amount, or 3) if you want all your money in a lump sum, you are guaranteed a certain amount. So if you know nothing about investing, these promises sound like heaven. But the fees for these things that you could have for FREE on your own are more than the cost. Annuities are what keep life insurers in the black. When interest rates fall, your agent will want to move you to an even worse contract. As one economist says: “This switch is really awful. It’s really good for the insurance company. But it’s really bad for the investor.”

There are better alternatives: https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019

Social Security is getting a raise—the fund will get more from high ‘earners.’

Effective January 1, 2017, the amount of your income that is subject to the 7.65% Social Security and Medicare tax increases from rise from $118,500 to $127,200. This means that for an American worker who was fortunate enough to earn in the higher end of the middle class income range, their taxes could go up by as much as $655 per year. And a married couple could see a tax hike of $1,331. Of the estimated 173 million workers who will pay Social Security taxes in 2017, about 12 million will pay more because of the increase in the taxable maximum. Unfortunately, most wealthy people don’t work for others so they avoid the tax. They pay 17% not 33% total tax.

You can pay less tax in retirement: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

GOP religion allows 7-year old to be beaten 36 times with hanger

Indiana mother who beat her son dozens of times with a coat hanger — and used the state’s new ‘religious freedom’ law to justify the punishment — has been sentenced to a year of probation after pleading guilty to battery. Kin Park Thaing was sentenced in Indianapolis. Her 7-year-old son caught a teacher’s attention when he showed up to school with 36 deep-purple bruises on his body. Thaing’s Christian beliefs were the “guiding values” that influenced her behavior. She cited verses from Proverbs 23:13-14. The force she used on her son is a “reasonable exercise of her parental right to choose how to rear her children,” her lawyer argued. Gov Pence, now GOP nominee, defended the law. “reasonable”? What about son’s ‘religious freedom’ rights?

Don’t blame God when you beat your child: "Let the little children come to me, and do not hinder them, for the kingdom of heaven belongs to such as these." matthew/19-14.htm

We may receive our W-2 forms on time—Feb 1—employers have computers now

Employers are now required to file their copies of Form W-2 and most 1099-MISC income statements by Jan. 31. In the past, employers typically had until the end of February, if filing on paper, or the end of March, if filing electronically, to submit their copies of these forms. The new law requires the IRS to hold the refund for any tax return claiming either the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) until Feb. 15. By law, the IRS must hold the entire refund, not just the portion related to the EITC or ACTC. IR-2016-143

35,000 teamsters to lose pension benefits

Plan trustees say the plan was undermined by "historic market losses" in 2000 and 2008, a declining active union population and "an exodus of contributing employers." A Teamster contingent is challenging the cutbacks, questioning whether pension trustees were looking out for the best interests of plan participants. Market earnings averaged 5.7% so every down year was matched by up years—even exceeded. Many pensions made bad investment decisions during this period, paying high fees for low returns from hedge funds, private equity, and alternative assets. A simple low-cost index fund would have been better for union members but not management. Pay less; get more.

2015      1.30

2014    13.81

2013    32.43

2012    15.88

2011      2.07

2010    14.87

2009    27.11

2008    -37.22

2007     5.46

2006    15.74

2005      4.79

2004    10.82

2003    28.72

2002    -22.27

2001    -11.98

2000    -9.11

1999    21.11

Build your own tax-FREE pension: https://www.amazon.com/Your-Pension-Box-tax-FREE-employer/dp/1481945157

Is a 12 month CD at 1.25% right for you?

If you are a saver who does not like to take any risks with your money, you may be watching CD rates. Current online bank rates barely cover inflation. You may be better off paying the penalty on a 5-year 2% if you need the money fast. But what if rates don’t go up soon? Maybe it is better to use your emergency money to stave off checking fees. Many smart savers keep $2-3,000 in their checking to avoid the fees. BankAmerica charges $12 a month and $35 for NSF. Advisors who say to keep 6-8 months of expenses in the bank are crazy. Smart savers keep an open home-equity line. Some put theirs in a balanced fund like Wellesley Income at Vanguard. Your money is earning over 9% (since 1970) because 62% of it is invested in safe US Treasury bonds and 37% dividend stocks. Your money can be in your checking account in 2 days. Fee is only 0.23%.

Wellesley is one of Vanguard’s Top Ten: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Small manufacturing pays $26/hr but has no Congressional tax-credits

Small manufacturing could save this country and its middle class by using computer-controlled technology. Small companies do not have lawyers and offshore subsidiary to hide revenue from taxes like GE, Boeing, Apple, Google, Amazon, and 304 others. This makes it harder to complete. Small firms must find a niche they can serve better than large firms in China and Mexico. Unlike Germany and UK we don’t have apprentice programs to teach non-college adults how to make things using computer assisted machines. Lost black and white teens might earn $26/hour learning vs flipping McNuggets for $9. Machinists can learn to pay their own way while rebuilding the middle class. All we need is a national program to support technical schools and business tax subsidies like those given to big oil, gas, sugar, cotton, drug makers, agribusiness, solar, etc etc.

Shrink the Tax-Credit Class: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

The rich pay less for car insurance than you—Socialism for the Rich

“It is profoundly unfair that a driver with a moderate income and a perfect driving record is often charged more for auto insurance than higher-income drivers with DUIs, accidents and speeding tickets,” said J. Robert Hunter, CFA’s Director of Insurance and former Texas Insurance Commissioner. “As long as state governments require drivers to buy insurance, they should require insurance companies to price their product based on how we drive, not who we are.” GEICO and Progressive were worst. See premium chart.

Shop every two years for these discounts: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

GOP trying every trick to keep Dems from voting

Many GOP states have changed voting requirements, places, times, watchers, etc. Now new law gives voters another obstacle. Not only will GOP not count your vote if it has the wrong ZIP code or wrong BLOCK lettering but now GOP will discard your ballot if you do not use the same exact letters as your registration. So if the GOP registrar has J. P. Morgan and you sign J. Pierpont Morgan, your vote for anyone other than Donald Trump will not count. If you put the date in the wrong date box, no vote. If you list your DOB as 48 instead of 1948, no vote.  More than half of the OH provisional and absentee votes discarded for minor errors in 2014 came from five large, Democratic-dominated urban counties. Tens of thousands of voters who had been illegally purged from the OH voter rolls will be tested on provisional ballots this way. GOP says all this is to avoid cheaters. But there have been only 31 alleged cheaters in the whole United States since 2000. Catholic Church in CA scares Dem voters with eternal hell. Billionaire Koch battle unions in PA with $139 million Toomey McGinty bout. The Don knows the election will be fixed because he knows the GOP changed the rules.

And the FBI has joined the anti-Clinton side: it wants to gain a leg up with GOP House for new funding. “The agency has lagged behind on developing the capacity to analyze and understand intelligence its agents gather, and said that “hiring additional linguists and integrating them into operations should be a high priority.” 

2016 Election is not uplifting; it’s just depressing

Which liar will win American’s vote?

Neither can re-create jobs of the good old days!  We don’t see either one as President.

Do-Nothing Congress will decide US future by doing nothing for more 4 years.

GOP hates women as much as black men.

           

Don:    You know I couldn’t live on the Presidential salary—a “step down” for me.

            “we should just cancel the election and give it to Trump," megalomaniac says.

            Trump Network: Don’s son-in-law, Kushner, to start Trump Network Now on FB

            Worst campaign? Maybe I didn’t really want to be President. I have job already.

            Why is FBI looking at connections of my “advisors and Russian government”?

            KS is my model for economic changes—cut taxes, employment, growth, etc etc

            Seagal joins Don as Putin friend and Russian citizen? Consul of Russia in CA.

            See “Bad hombres” from Mexico taking jobs, voting, causing crime? NO.

           

“I can shoot somebody on 5^th Ave and wouldn’t lose voters.” Well, maybe U.S. women.

Mike:   ObamaCare was right for my state too. The Don is not using it anywhere-no clue.

            Cruz helps me with GOP religionists to support “utterly amoral” Trump.  What?

           

Hill:    I never sent a confidential email to Wiener. FBI looking to score with GOP?

            I voted to stop tax avoidance tactic The Don used—deducting investor’s money

            Trump rally speaker fantasizes about my death—GOP hates women like blacks?!

            Where are all those illegal immigrant Dem voters Don alleges?

Tim:     I want AZ Latinoas to consider what The Don thinks of you on Tuesday.

This election like 1964 LBJ Goldwater: Gen Jack Ripper believes only he can save us too

GOP WI  refused to open polling site believing it would favor Dems.

How the party of Lincoln became the party of Trump—conservative means go backward especially among “Christians” who now accept immoral acts in their public servants.

            Therefore by their fruits you shall know them. Matthew 7:20

Regulators are the only protection we have since we can’t sue anymore

            “It is nearly impossible for one individual to take on a corporation with vast resources.”

               Supremes stop us from suing—State courts no longer available to sue corporations!

BMW recalling 154,472 vehicles for a fuel pump problem that could cause stalling

VW refitted 1.23 million diesel cars with a software update so they pollute honestly.

ATT sells your cell data to police using searchable database for time, location, friends.

Regulation missing for profit colleges so we taxpayers will end up paying $ billions.

Oregon jury: “having guns is no threat but statement of culture like wearing cowboy hat.”

Student loan servicers caught illegally denying applications for flexible repayment plans.

Auto loan services caught illegally keeping car owner property

Debt collectors caught illegally charging fees, misleading debtors

Christie throws employees under bus on bridge to save his big but

Northern Resolution, Enhanced Acquisitions, and Delray Capital caught at illegal tactics 

Bundy never paid his taxes for cattle eating our lands—terrorist sons free to do revolution

Wells Fargo stockholders pay $50 million to settle allegations it overcharged. No jail.

We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

Police want gun control.

When everyone has guns; your chance of being killed goes up. Police don’t know who to shoot. They assume everyone has a gun hidden. You and real criminals both have guns.

Oregon jury: “having guns is no threat but statement of culture like wearing cowboy hat.”?

Police organization issued a formal apology for the historic mistreatment of minorities.

SCAMS: Queen Elizabeth offers to take US back to avoid our “mistake” 2016 election.

            Assault rifle for $400 so anyone can kill hundreds at a time Really about 2^nd Am?

            You are victim already: Lawyers remove our negative complaints by “suing” us.

            Chase CEO Jamie Dimon refuses to say anything in an email, text or chat.

            Hulk Hogan gets $31 million for having sex with friend’s wife—Only in U.S.

            Church apologizes for 30 years of “forced” adoptions: stole kids from mothers.

            Non political ‘church’ San Diego tells worshipers they will go to hell if vote Dem.

            Catholic Church is no longer tax exempt if engage in ‘political campaign activity.’

Ignoramus Award: Hackers stole Clinton emails using simplest trick: Fake change pass

"google.com-securitysettingpage" — was crafted to appear genuine. They struck Podesta on a weekend morning and his IT guy said authentic. OH

How our government wastes our money

$3 billion in road projects in Afghanistan but 95% are destroyed beyond repair. My road?

$360 million USS Fort Worth (LCS 3) broke down in war maneuvers.

Where have all the jobs gone?

Smaller manufacturer’s special products computerized-machines $26-hour operators

Dog walker, pet sitter $20 hour in some cities

Who owns your account now?

Calvert Investment to Eaton Vance

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Your retirement plan takes 63% of your nest egg?

How much has YOUR retirement plan stolen from you?

The people who work for non-profit institutions often have the WORST retirement plans.

In fact, millions of people—teachers, clergy, nonprofit and charity employees who have NO say in their 403(b) plans—may be losing $10 billion each and every year to middlemen who do little to help them, according to Aon. Over your lifetime of saving—and teachers are some of the best savers—your fees will erode 63 percent of what you would have had. Fees go to sales people you have never even met. In short, because of the financial products forced on you by your employer, you may end up with $100,000 instead of $150,000. Your union and your employer actually went along with this HUGE rip-off knowing (kickbacks) the plan options you had to take were not the best. There is no oversight of the insurers and mutual fund firms that take fees up to 2.5% instead of the normal 0.5%. 403b plans are their “cash cow.” These firms know you know nothing about investing, so they throw hundreds of costly options into your plan in the name of choice. Worse, some public employees will not receive Social Security. Most honest advisors use index funds or ETF for unsophisticated retirement savers. And the rip will go on since the new Fiduciary Rule (client’s interests first) does not cover the 403b.

Make your own low-cost pension plan: https://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285

Is a market index mutual fund right for you?

What criterion do you use to decide about your advisor’s recommendations? Do you try to understand why that security is picked? Can your advisor tell you why this one will help you reach your goals in what time period? What are the alternatives that might entail less risk? Index funds and ETFs (commissioned index) replicate a market return if they have low fees. Cost is the best predictor of your investment success. So that is the first question I ask. You need to know about the history of a security/company you buy. No investment product is perfect so you may be safer with an index that contains 500 companies not 1. Broad market indexes are popular because you’re buying many firms. This protects you from one firm or sector failure. Stocks have higher returns when you hold them for over 15 years so for that part of your investments, they are right for you. If you need another part of your money to be there when you need it in less than 15 years, a low-cost balanced fund with bonds can provide 9% a year. http://www.saferchild.org/power/

Vanguard’s best funds have provided over 11% over time: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

How much can you invest in your retirement account in 2017?

IRS just announced the new 2017 limits in https://www.irs.gov/pub/irs-drop/n-16-62.pdf. For IRA and Roth IRA contributions, it remains $5,500. For 401k, 403b, 457 and TSP it remains $18,000. A deductible IRA cuts off at AGI of $196,000 if you have no plan at work. It is $119,000 for marrieds who have a plan at work and $72,000 for singles. For those of you in company pensions using 430c2d excess employee compensation you have a special election up to $1,115,000. If you already have a healthy IRA, you can convert any part of it to a Roth IRA making it a tax-FREE shelter for the rest of your life and your heirs. This can be your family legacy plan at no extra cost too.

Tax-FREE income: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Your vote counts? Lobbyists guide government decisions no matter how you vote

When a large corporation has a problem with the government, who do you think they call to fix it? They call their lobbyist like Teneo. They pay our former President, congress person or Speaker of the House to go talk to their friends who still collect measly ($100k) government paychecks. They take them to lunch or pay for this or that. Voilà the decision comes down that fixes the problem. What Teneo and others are selling is access. Corporations buy “juice”; influence and it is a deductible expense to them. “The ability to bring business and political leaders together to meet the C.E.O.s was all part of the selling point.” $1 million a month buys all kinds of influence in 12 different areas—regulation, security, negotiation, diplomacy, financial, etc. For instance, Ms. Abedin worked for Teneo while simultaneously worked as Mrs. Clinton’s aide in the State Dprt. There are over 10,000 lobbyists “running” this country. Don or Bernie don’t have a chance. You need “juice” to change things: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

Use your Tax Credits to avoid income taxes like Trump

Most of us receive only 4% of federal tax breaks like food stamps and Earned Income Credit if you are poor or the property tax and mortgage credit if you are middle class.

The Tax-Credit Class pays less income tax with capital gains and dividends because it is “unearned.” So if you actually work; you are taxed MORE. For instance, Warren Buffett pays 17% on earnings while we pay 33% total tax. The Tax-Credit Class pays NOTHING on assets they got from a “rich uncle” and on their home when they sell. Most of us don’t “itemize” so we lose all kinds of tax credits. We pay 33% of income for many taxes. We are nickel and dimed for 97 kinds of taxes. The Tax-Credit class deducts medical expenses, job hunting and work expenses not reimbursed by others, deferred compensation (bonus and stock portfolio worth more later), investment loans and costs, investment losses, stuff they lose, stuff they own. They can eliminate income tax by listing losses from buildings, race horses, farms, oil, leasing and businesses they own as partners, LLCs, C and S corps. Trump actually deducted $916 million but most of it was other people’s money. Some bank debt was cancelled which normally is taxable but not after RE lobbyists got Congress to change rules in 1993. Trump is tax-FREE for 18 years.

Use your Tax-Credits too: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO-tax/dp/1539462382

Reality TV or ‘debate’ I can’t watch—like Jerry Springer show?

Which liar will win American’s vote?

Neither can re-create jobs of the good old days!  We don’t see either one as President.

Do-Nothing Congress will decide US future by doing nothing for more 4 years.

           

Trump Network: Don’s son-in-law, Kushner, to start Trump Network Now on FB

            You know I couldn’t live on the Presidential salary—a “step down” for me.

Don:    “now we're supposed to send them out of the country, I don't believe in that” 2012

            Invading Iraq? Yes I guess so. I wish the first time it was done correctly. 2002

            There are now a dozen who claim I was a bad boy—suing each one on 11/9.

            At least a Las Vegas paper endorsed me. Most supporters don’t read anyway.

            Putin getting ready for war—Making Russia Great Again. US troops to Poland

            Liberty University students say I am the antithesis of Christian values—Rigged!

            I gotta be numero uno. Fear public embarrassment most.

            Putin aide emails hacked: started Ukraine war and cyber war for power.

            “we should just cancel the election and give it to Trump," megalomaniac says.

“I can shoot somebody on 5^th Ave and wouldn’t lose voters.” Well, maybe U.S. women.

            Worst campaign? Maybe I didn’t really want to be President. I have job already.

Mike:    Polls are rigged so we spent more on hats ($3.2 million) than on polling $1.8 mil.

           

Hill:     “pay no attention to the polls.” FL leaning to Trump so “no complacency” please

            Congress ALREADY set for my public “hanging” in Chaffetz committee.

            Don says I met ‘international banks to plot the destruction of U.S. sovereignty’

Tim:    "Florida, you guys are a checkmate state" 

            Trump promises to settle his scores [suing accusers] in first 100 days as POTUS.

This election like 1964 LBJ Goldwater: Gen Jack Ripper believes only he can save us too

GOP WI  refused to open polling site believing it would favor Dems.

How the party of Lincoln became the party of Trump—conservative means go backward especially among “Christians” who now accept immoral acts in their public servants.

            Therefore by their fruits you shall know them. Matthew 7:20

Regulators are the only protection we have since we can’t sue anymore

            “It is nearly impossible for one individual to take on a corporation with vast resources.” (GOP bill                requires impossible: every person in class action suffer “same type and scope of injury”)

               Supremes stop us from suing—State courts no longer available to sue corporations!

Where were regulators—ITT stole $400 million from students and US? Lobbyists won.

ObamaCare: 44% favorably 47% unfavorably. 2/3 Dems 1/3 GOP say it’s working well.

William W. Gammon Towson, Md. Sold unsuitable investments given the clients’ ages

Lee D. Weiss of Boston sold unsuitable investments

Carolyn C. Kaufman, Hudson, Ohio, involvement in a case involving forgery.

Watch out in CO: Bud trucks are on auto pilot and may not see you going for a Bud.

IRS claims to have stopped fake ‘agents’ callers asking for tax bill payments. Hang up.

But IRS bill collectors do call to collect taxes since Congress passed law. Don’t hang up

Trump Toronto near bankruptcy: another Don deal gone bad—investors duped.

Christie: all 7 people lied about my directing Bridgegate. Kelly: I was “a scapegoat.”

We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

CR best cars to buy

Buick has come up in the Consumer Reports tests. Honda and Subaru have dropped. Lexus and Toyota have remained on top. Poor showing for Jeep, Ford, Tesla, Caddy.  Slightly used cars are a great bargain. You get the benefits without the new model troubles. Most reliable are the old favorites—Camry Accord Lexus.

And don’t forget your new insurance discounts: 

Do you still need to spend over $25; even $50 a month on cell service?

There are alternatives coming every week for those who need fewer bits every month. Now that you know your usage, it may cost you less with another plan. These plans range from $0 a month to $15: http://www.mymoneyblog.com/list-of-cheap-basic-prepaid-cell-phone-plans-under-10-a-month.html

Police want gun control.

When everyone has guns; your chance of being killed goes up. Police don’t know who to shoot. They assume everyone has a gun hidden. You and real criminals both have guns. Body cams make it harder to plant evidence and stage scene for TV crews.

Police organization issued a formal apology for the historic mistreatment of minorities.

SCAMS: Feds “overpaid” National Guard to re-enlist and years later takes money back

Global warming: West Africa and Florida watching ocean take over more land

Christie as gov says his staff closed busy bridge traffic on their own: incompetent or liar?

Bundy’s armed rebels go free--“ruling will embolden other militants to use the threat of violence” 

Ignoramus Award: Feds pay people to leave job and fight; then want money back. Congress knew 2 yeas ago and did nothing. Why do we pay Congresspeople anyway? Can we get our money back if Congress does nothing all year.

How our government wastes our money

Feds “paid” National Guard to re-enlist; years later takes money back. Never again!

IRS hires bill collectors: "Encouraging federal agencies to robocall individuals only creates confusion that scammers will inevitably exploit to rip people off."

Where have all the jobs gone?

Twitter layoff “hundreds” of workers—8% of workforce.

Who owns your account now?

Time Warner to AT&T

Reynolds American to British American Tobacco

Scottrade to TD Ameritrade

Genworth Financial GE long-term care and mortgage insurance to China Oceanwide Holdings

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Obama give insurers BIG bonus

US government gives insurer CEOs a HUGE bonus!

Our Treasury is encouraging retirees to buy annuities, the cash cow of the insurance industry. Annuities have very high fees which rob savers of long-term gains while promising them that they can’t outlive their lowered savings. The department will let target-date retirement funds that are a default option in retirement plans offer long-term deferred annuities. The trouble comes when you retire. When you subtract the fees (2-5% a year) from your earnings over time, you may give up 63% of your nest egg. Instead of having $30-40,000 a year retirement income, you have about $15,000. Annuities have no refund. 

Look at the alternatives before you leap: http://www.amazon.com/Lets-Do-The-Numbers-Retirement/dp/1502775522

Is a low-cost advisor right for you?
Recently, all the major mutual fund firms are beginning to offer a low-cost equivalent to the traditional (expensive) planning advisor. Low-cost providers like Vanguard offer to create a financial plan to match your goals. If you have most of your retirement money with them, the cost is reasonable. Another low-cost alternative is the plan for a fee advisor. Most famous is the Garrett Planners.

If you feel comfortable with your own decisions, use the best low-cost funds: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Regulators vow to punish fraud by brokers/advisors

SEC commissioner said fraud committed by an individual broker or advisor is more likely to cause investors to lose all of their investments than fraud by a large company, which will cause individual investors to lose only some of their assets because they are held in a diversified portfolio. In hearings earlier this year, Senate lawmakers explored ways to help seniors identify scams and fraud. Federal Trade Commission data show an estimated 25.6 million Americans — or 10.8 percent of the U.S. adult population — fell victim to some kind of fraud in 2011. Weight-loss products, billing services, credit repair, debt relief, credit card insurance and mortgage relief were in the top 10 categories. Last year, 429 individuals were barred from working in the financial industry and another 670 were suspended, FINRA said.

Most large mutual fund firms have salaried advisors to help you: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Is the Saver’s Credit right for you?

For 2014, you can qualify for the retirement saver's credit up to $2,000 if your adjusted gross income is $60,000 or less if married filing jointly, $45,000 or less if filing as head of household, or $30,000 or less if you’re a single filer. The lower your income, the larger the credit you can take. And you don’t need to max out your IRA to get the maximum credit. Contributions to a traditional or Roth IRA, 401(k), 457, 403(b) or other retirement-savings plan qualify. Credits are worth more than deductions and can pay HALF your retirement contributions each year. Contribute $4,000—receive $2,000—become a millionaire: http://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

 

10 million more Americans have health care—a good thing for all!

Nov 15 begins re-enroll for ObamaCare. https://www.healthcare.gov/

Despite their denials, GOP states like NM, KY, WV and TX now have health care available for more voters. See the map of the HAVES and HAVE NOTs. http://www.nytimes.com/interactive/2014/10/29/upshot/obamacare-who-was-helped-most.html

GOP crazies

Voters voted against Obama as GOP had campaigned and now own Congress. Some vow to take away our health care plans, cut taxes on wealthy/corporations, send our soldiers back to Iraq/Syria/etc, let oil companies export more oil via pipelines, frack all over the place, end regulations on water, air, everything you can think of.

On the bright side, more states want pot and minimum wage. 

We get what we deserve, they say. But I need my health care.

DEMS crazies

Federal Government Made $20 Billion in Secret Purchases in Recent Months

The purchases, known among federal employees as “micropurchases,” are made by some of the thousands of agency employees who are issued taxpayer-funded purchase cards. The purchases, in most cases, remain confidential and are not publicly disclosed by the agencies. A sampling of those purchases, obtained by the I-Team via the Freedom of Information Act, reveals at least one agency used those cards to buy $30,000 in Starbucks Coffee drinks and products in one year without having to disclose or detail the purchases to the public.

“When you have $10,000 being spent at one Starbucks by DHS employees in one city in six months, someone is abusing the purchasing permission that we have given them."

Don’t employees have to declare this as income on their taxes?

Is retirement in another state to save money right for you?

In 2015, four states are lowering their tax on your estate. Tennessee's estate tax exemption will jump to $5 million from $2 million, Maryland's exemption will increase to $1.5 million from $1 million, and Minnesota's exemption will rise to $1.4 million from $1.2 million. On April 1, 2015, New York's estate tax exemption will increase to $3.125 million from $2.062 million. Tennessee's estate tax will disappear in 2016. Maryland and New York will increase their thresholds every year until 2019, when they'll match the federal exemption (currently $5.34 million). Minnesota's exemption will rise in $200,000 annual increments until it reaches $2 million in 2018.

Moving to save your heirs taxes seems extreme. Better to transfer assets now: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Reliable new cars

Consumer reports made their tests to made suggestions to buy and avoid. You are going to save big when you buy a 3-year old model of one on the winning list. You may save 40% off MSRP since cars lose value as soon as you sign the paperwork. Leasing makes sense for your business not personal. Find your car on the list (red check) then shop for your insurance with our list of 14 discounts:  http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Long-term care insurance is expensive; Medicaid right for you?

The person receiving care must generally have less than $2,000 in "countable" assets, which include savings, retirement accounts, investments and life insurance. Your car, primary residence and money in certain kinds of trusts don't count. See www.naela.org or www.nelf.org. Most states have home-equity limits. If you're married, the spouse living at home (called the community spouse) can generally keep up to $117,240 in countable assets in 2014. You generally must receive less than $2,163 per month in countable income to qualify for Medicaid. That includes Social Security benefits and pension, dividend and interest income. See www.medicaid.gov for your state's rules. 
LTC insurance alternatives: http://www.amazon.com/Long-term-Care-Insurance-Updated-Edition/dp/148274001X

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

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

Are we preparing for WWII again? There are 1,208,083^[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year. We have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.

We just can’t afford to pay for everyone else’s defenses anymore. Japan, Germany and S. Korea can pay for their own defenses.

The War on Terror requires SEALS’ attacks on top terrorists at their homes. Iraq proved converting a nation to Western-style republic doesn’t work.

Uncle Sam has your data—you can’t hide anymore

Facebook is one of the prime feeding grounds for data -- and inevitably requests from federal agencies for said data. According to Facebook's latest transparency report published on Tuesday, the company received 34,946 requests for data during the first six months of 2014. That translates to a 24 percent uptick from the second half of 2013, nearly matched by a 19 percent increase in the amount of content restricted due to local laws where Facebook operates. Facebook's deputy general counsel Chris Sonderby promised in the report that the company pushes "back hard" against any and all requests before forking over data -- if at all. In the United States, for example, Facebook received 15,433 total requests during the first half of 2014, pertaining to data about 23,667 accounts. Facebook responded with data to 80.15 percent of these requests.

The NEW Iraq—same but with a new party

“Wealthy government officials and military officers are buying houses in cash, tearing them down and building mansions,” said Abu Rana al-Zubaidy, a realtor who has witnessed the neighborhood’s transition from backwater to power center. With Sunni jihadists seizing territory less than an hour’s drive from the city, “there’s caution, but everyone still has plenty of money,” he said by phone. The conspicuous displays of Shiite affluence in Zayouna are testament to the shift in political power since U.S. forces ended decades of Sunni dominance under Saddam Hussein, according to Andrew Bowen, Middle East scholar at the Baker Institute for Public Policy in Houston. “Sunnis complain that they are being excluded from power,” said Bowen, adding that the reversal in fortunes is fueling resentment and blocking efforts to unite the nation against the Islamist militants. “There is a strong perception that the new Shiite elite is using the state for their own ends.”

IAN

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