Help your grad become successful

Every grad needs this gift

Wealth: What every high school graduate needs to know in the 21st century $19.95 Amazon http://www.amazon.com/Wealth-every-school-graduate-century/dp/1466427906/

Investors are giving up on broker commission funds

More investors are moving to no-load (no commission) mutual funds. The no-load funds had net inflows of $735 billion from 2009 to 2011, while load-bearing mutual funds saw $109 billion in withdrawals during the same time, according to the Investment Company Institute. Members move to LOW-COST funds also: 0.07% vs 1.68% saves about $500,000 on a lifetime of investing. amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Congress hides ObamaCare benefits to small business by not telling?

Why small business ignores tax credit of 35-50% of cost of health care insurance?

For those small businesses that are either adding insurance coverage or keeping it, the tax credit can save them up to 35 percent. In 2014, the credit increases to up to 50 percent of the cost of their health insurance. In Florida, 220,000 small businesses are eligible for the tax credit, according to a report released last week by Families USA. Many businesses will not take advantage of it simply because they don’t know about it. When they find out, they say: "We all have had health scares in our families; we are all very much aware of what it can do if you don't have (health insurance). If something happens, you could lose everything."

Investors want simple                                                                                    

40% of investors say investment products are too complex and that one-third feel overwhelmed by their investment options, according to a survey by MFS Investment. We suspect both figures are low. Members go with the Simple Financial Life: amazon.com/The-Simple-Financial-Life-paycheck/dp/1441499326

Young workers want pensions
Younger workers prefer guaranteed income in retirement than older workers, according to a study by the Hartford. Yet more than half are not saving/investing for retirement.

Tax-Free Living: 2012 strategies to build a tax free $2,000,000

http://www.amazon.com/Tax-Free-Living-2012-strategies-build/dp/1477452702/

CA low-cost auto cover falls 9% $257.69 a YEAR

The cost of an annual premium has decreased up to 9 percent across 58 counties and the income eligibility caps for qualifying have increased. Beginning May 15, the cost of an annual premium for the program has decreased up to nine percent across California's 58 counties and the income eligibility caps for qualifying for the program have increased, allowing more of California's uninsured drivers to qualify for state-sponsored Low Cost Automobile Insurance. Average cost of an annual Low Cost Automobile Insurance policy in California is now $257.69 a year and the premiums for all California counties are now less than $350 annually. 15 percent of the cars on California roads don't have insurance.

Go figure?

A study finds that in 3 of 4 states that enacted texting bans, accidents actually increased. Instead they’ll put the phones deeper in their laps to avoid detection and the result will be an increase in accidents. It’s like football helmets—instead of protection, it’s a weapon. http://www.csmonitor.com/Commentary/Opinion/2012/0517/Inconvenient-truths-to-a-ban-on-texting-while-driving

Is critical illness insurance right for you?

The chance of getting diagnosed with cancer or having a heart attack is heightened for people over age 40. In fact, according to the American Cancer Society, one in two men and one in three women develop cancer in their lifetime. This insurance is like a savings account: you get a lump sum to spend. A person in their mid-40s will pay $180 a year for a $15,000 lump sum benefit. A recent study found the average financial cost associated with a critical illness is $35,500. Most of the cost is linked to lost wages, the survey found. MetLife found that households spend nearly $5,000 on out-of-pocket medical expenses that insurance won’t cover, and about $1,500 on non-medical expenses. Let’s do the math: pay $180 a year for 40 years for $15,000 benefit if you need it. But you can pay $180 a year for 40 years in a bond fund and have $53,000 tax-FREE AND you don’t need to get sick. Members buy only what they need: http://www.amazon.com/Drop-Your-Insurance-Only-What/dp/1448623391

Should stay at home parent be denied credit card?
“Denying someone a credit card because that person is a stay-at-home parent devalues the work of raising and caring for children and that person’s worth as a partner,” MomsRising Executive Director Kristin Rowe-Finkbeiner said in a statement Tuesday. " This radical shift in policy -- considering individual income rather than household income in granting credit -- does nothing to help credit card companies assess credit-worthiness and everything to harm moms or dads who don’t earn income.” New law denies credit to those without income in their own name. Household income is not enough even though they make 90% of all purchases for the home. http://www.change.org/petitions/don-t-set-us-back-half-a-century-give-stay-at-home-moms-credit

 

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

Will Congress cap the taxes it gives to farm corporations?                Save $1B

A recent report by the Government Accountability Office, which was originally requested by Sen. Coburn, that outlined possible savings of up to $1 billion a year on crop insurance if Congress capped the subsidies for the premiums paid by farmers and USDA took more aggressive steps to monitor for fraud and abuse in the program.

Will Congress stop the bank bailout waiting to happen?                     Save $3B

Morgan Chase’s $2 billion loss proved that we need to separate the banks into 2 banks: the FDIC backed deposit bank and the betting bank. Sen. Carl Levin, D-Mich., said that Dodd-Frank allows banks to hedge particular assets but prohibits the kind of position that JPMorgan took.

“This kind of hedging on the direction of the economy is not allowed,” Mr. Levin said. Regulators have given banks two years to implement Dodd-Frank. Morgan Chase bets on “synthetic credit securities” and could face $1 billion more in losses. They aren’t sure  how it happened exactly???? NY Fed knew about JPMorgan's trading loss and did nothing. Government is letting it happen again.

Do we need another catastrophe before we do something?

GE pays fired employee $2.25 million for poor job performance!

Genworth Financial will pay former Chief Executive Michael Fraizer a lump sum of $2.25 million as well as stock options worth $ millions as part of a separation agreement reached on Monday. Fraizer stepped down as CEO after the company's weaker-than-expected results earlier this month. Only in America!

By the way, GE made $5.1 billions and paid no tax--got a refund too!

http://www.nytimes.com/2011/03/25/business/economy/25tax.html?_r=2&scp=1&sq=GE%20taxes&st=cse

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Perfect gift for your graduate

Perfect gift for your grad

Wealth: What every high school graduate needs to know in the 21st century $19.95

Amazon http://www.amazon.com/Wealth-every-school-graduate-century/dp/1466427906/Now an ebook!

What can you do with an old life policy?

You can have an unbiased evaluation and find out your options at EvaluateLifeInsurance.org/

Where to find $3,000 this year?

Your tax return is the easiest way to find extra. The second way is moving your mutual funds to a low-cost provider like Vanguard. There are over 200 ways to save extra money this year. We put them together in one place: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X/

OH bans electronic diversion and driving

Ohio moved a step closer Thursday to being the first state to ban teenagers from using electronic devices while driving. Thirty-one states have banned cellphone use for teen drivers but none have gone as far as Ohiomight go. Exceptions were made for hands-free GPS units and emergency situations.

End of auto insurance business?

Advances in driver and auto safety have now alarmed some insurers. Use of three currently available technologies: telematics, collision avoidance and automated traffic law enforcement, has made accident liability more unlikely. The implications for property/casualty insurers would be enormous. Traffic fatalities are hitting record lows for all drivers, but the drop among teen drivers is especially important, given that traffic accidents are the leading cause of death for teens. No premiums, no insurers. Shop and save with premium determined by your discounts and driver miles: http://www.amazon.com/Drop-Your-Insurance-Only-What/dp/1448623391/

Paid advisors are in trouble

More than a third of the surveyed investors – even more among younger people — believe the information they find on the Internetabout investments is just as good as what they would get from a financial adviser. About half of Generation X investors believe information from the Internet is just as good and 57% of those from Generation Y have just as much faith in info from the Internet as they would from an adviser. Members agree: Wealth Without Wall Street helps dispell the myths about building wealth. http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

How is it possible to destroy your wealth?

This story shows how easy it is to lose your wealth without a plan to spend it.
http://www.businessinsider.com/14-lottery-winners-who-blew-it-all-2012-3#willie-hurt-had-one-hell-of-a-crack-addiction-6
Mewbers use our Guide: http://www.amazon.com/The-Simple-Financial-Life-paycheck/dp/1441499326/

Where will we be in 15 years—2027?

HALF of Americans said they weren’t contributing to any retirement plan; Americans ages 18-34 were more likely (56%) to be among those not saving, according to a new LIMRA survey. "Secure income covers 81 to 100 percent of monthly expenses for nearly six of 10 (58 percent) of retirees polled," Black Rock said. "Across all retirees, on average, secure income covers 76 percent of expenses," with pensions providing most of these payments. While 80 percent of current retirees said they had pensions, only 53 percent of current workers have them, and the total drops sharply among younger employees." TIME can make up for their lack of money. $3.33 a day can grow to $1,000,000 by retirement. The New American Retirement System is the answer: http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072/

PA court disallows long term care insurer to liquidate—blames regulator

PA court has disallowed efforts by the Pennsylvania Insurance Department to liquidate two long-term care insurance (LTCI) companies of Penn Treaty. In the absence of receipt by the Companies of these justified premium rate increases, actuarial projections suggest that there will be insufficient funds to meet the Companies’ future obligations. “A liquidation will shift to the taxpayer the ultimate cost of a state’s refusal to grant actuarially sound rate increases because taxpayers will have to reimburse the guaranty funds.” “The Rehabilitator’s evidence showed that rate regulation is governed by politics, not actuarial evidence or legal principles. This case presents a serious indictment of the existing system of rate regulation of long-term care insurance.”

SCAMS Only the little people pay taxes.” Leona Helmsley

Socialism for the rich is complicated (so we don’t see it as socialism)

Paying corporations NOT to grow food while 50 million Americans are paid food stamps to eat. Paying Brazil$150 million so US cotton corporations can export cotton. Paying corporations to grow corn for gasoline additive cost more than Arab oil so US refiners can export. The corporate owners pay less % tax than their workers.

http://www.agriculturelaw.com/
http://www.npr.org/2012/04/22/151166529/poverty-in-america-defining-the-new-poor?ps=cprs

Socialism for the rich is fun but complicated (so we don’t see it as socialism)

The players get to keep their winnings and we pay for the losses!

Morgan Chase's $2 Billion loss from big wagers is backed by the Fed—no run on bank is necessary.

The bank, betting on a continued economic recovery with a complex web of trades tied to the values of corporate bonds, was hit hard when prices moved against it starting last month, causing losses in many of its derivatives positions. The bank's strategy was "flawed, complex, poorly reviewed, poorly executed and poorly monitored," Mr. Dimon said. Chase sells CDS contracts—insurance—to other banks etc, like AIG did. They placed bets on how the bond markets will go. They have bet about $350 Billion—about 15% of the bank’s assets.

Thanks to the rule “too big to fail,” your taxes back up these risky bets because Chase knows we will bail them out if they fail. They have buddy Geithner on their side. Meanwhile, Goldman says buy AIG stock.

Here we go again!

Socialism for the rich is fun but complicated (so we don’t see it as socialism)

Michele Bachmann is now a Swiss citizen with an offshore account

She can now run for office in Switzerland, thank God. She was on the House “intelligence” committee, with access to all USsecrets. Like Romney she now has a Swiss bank account. In the last few years she received $$259,000 in commodities and disaster subsidies at her “family farm.” http://abcnews.go.com/Politics/OTUS/michele-bachmann-swiss-citizen/storyhttp://www.startribune.com/politics/130509053.html

Who owns your account NOW?

MetLife to buy the Reynolds Plantation luxury residential golf community and resort in Greensboro, Georgia.

IAN

41 Watchung Plaza, B242
Montclair, NJ07042
973.746.2014
www.InsuranceAdvisorsNetwork.com

Graduation present of the year!

Wealth: What every high school graduate needs to know in the 21st century $19.95

http://www.amazon.com/Wealth-every-school-graduate-century/dp/1466427906/

Your tax refunds could be your future Tax-FREE retirement

What you do with your refund (average over $3,000) could determine your future financial life. Investing $3,000 a year can accumulate in a tax-FREE Wealth Reserve and provide you with a reserve to pay cash instead of giving up interest and in the future, a comfortable retirement. Use it for deductibles and pay fewer premiums for all contracts too. Consider: $3,000 a year can compound to $115,000 in 15 years, 215,000 in 20, and $700,000 in 30 years using 10 funds averaging over 11% a year. See http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976/

Did you receive a refund?

Why are you making a loan to the US government?

Take your refund up front and build a tax-free retirement. Increase your allowances so your boss takes out less in your paycheck. Use this form to increase allowances 1 or 2.   http://www.irs.gov/pub/irs-pdf/fw4.pdf

How much are you paying for college savings plans?

The Coalition of Mutual Fund Investors found that plans sold through financial advisers or brokers charge more than twice as much in annual fees than plans that parents choose directly through states and manage on their own. On average, the adviser-sold plans were 2.15 times as expensive. The difference was larger when the fund investor organization also included initial sales charges and account maintenance fees that an investor would pay over 10 years — the time span many parents spend building up a 529 account. That comparison found adviser-sold plans cost 2.73 times as much, on average. In dollar terms, the 10-year cost of a $10,000 investment was an average $1,944 for adviser-sold plans compared with $712 for direct-sold plans. Compare fees: http://corporate.morningstar.com/us/pr/529_PaperUpdate.pdf

Unless your state gives you a tax break, low-cost leaders Vanguard and Fidelity are the best choices no matter where you live.

Students face big financial aid changes in 2012 unless our “Reps” work together

Starting July 1, 2012, interest rates on subsidized Stafford loans will jump from 3.4 percent to 6.8 percent, reports the Department of Education. Unsubsidized Stafford loan and graduate Stafford loan rates will stay locked at 6.8 percent.

http://www.nypost.com/p/news/national/student_loan_brawl_oyGP6KSH2wTdfoE4qa8CdO

Another war?              Are your taxes paid?

Multiple stealth F-22 Raptors, which have never been combat-tested, are now in hangars at the United Arab Emirates. They cost an estimated $79 billion and the oxygen to pilots fails unexpectedly.

No matter. The Air Force says the F-22 is ready for war, should it be called.

A former Israeli spymaster has branded the country's leaders unfit to tackle the Iranian nuclear program because of what he called the "messianic feelings" behind their threats to launch a pre-emptive war on Iran.

Is ”asset-based” long-term care insurance right for you?

This name is really a misnomer. Insurers are reacting to the failure of long-term care insurance to thrive by adding a rider to their regular savings-plan life insurance. They are pitching expensive life insurance as long-term care insurance so younger buyers will feel better about buying life insurance. Now, they say, you get two for one. Sellers can now avoid the ‘use it or lose it’ risk of LTCi. Most of the new Life+LTC policies do NOT include a benefit increase option that bumps up available benefits to keep pace with inflationary growth of costs. Thus buyers are being misled to think this policy will cover their future needs. However, when they need care—perhaps 20-30 years hence—they will find that the benefit is so small as to be useless. An alternative, to invest in appreciating assets, will cover needs more appropriately AND retains value for heirs. Members craft their own care benefits/legacy using our Guide: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

GOP gone over the edge?

FL Rep Allen West declares 81 of his colleagues are communists. McCarthyism?

Facts died Wednesday, April 18, after a long battle for relevancy with the 24-hour news cycle, blogs and the Internet. Though few expected Facts to pull out of its years-long downward spiral, the official cause of death was from injuries suffered last week when Florida Republican Rep. Allen West steadfastly declared that as many as 81 of his fellow members of theU.S. House of Representatives are communists. http://articles.chicagotribune.com/2012-04-19/news/ct-talk-huppke-obit-facts-20120419_1_facts-philosopher-opinion

GOP view of US future is not Christian, Bishops say!

There is something un-Christian about the Gospel According to Paul Ryan. So, at least, says Ryan's Catholic Church. The bishops, in opposing Ryan's budget, called for "shared sacrifice by all, including raising adequate revenues."

"Your budget," a group of Jesuit scholars and other Georgetown University faculty members wrote to Ryan last week, "appears to reflect the values of your favorite philosopher, Ayn Rand, rather than the Gospel of Jesus Christ.”

Even Jesus said to render unto Caesar that which is Caesar's. Ryan would rather give the rich a tax cut.

http://articles.orlandosentinel.com/2012-05-01/news/os-ed-dana-milbank-042912-20120501_1_ryan-s-budget-paul-ryan-catholic-bishops

AL health care structure may kill people

Alabama's leaders disagree on how to fund the state's Medicaid program should be properly funded, both sides agree on one thing: People will die if it isn't.

All sides agree that lives hang in the balance -- and not just the lives of people who rely on Medicaid for care. State health officials and lawmakers said a $400 million state Medicaid budget would trigger a chain reaction that would lead to care facilities closing and doctors leaving the state or going out of business.

American “job creators” leaving US to find demand

“We’re investing in India. We’re investing in Russia. We’re investing in Brazil. Not to ship products back here but because demand exists in those markets,” a Fortune 500 CEO said. “At the end of the day, this is really about responding to demand. We’re not going to go out and invest unless there’s demand.”

Are Inverse and leveraged ETFs for you?

Regulators fined four brokerage giants – Citigroup, Morgan Stanley, UBS, and Wells Fargo for selling complex ETFs to retail clients whose conservative portfolios shouldn't have contained the risky investments. The brokerages agreed to pay $7.3 million in fines and $1.8 in restitution to customers who bought unsuitable inverse and leveraged ETFs. The only reason brokers put these customers at risk is the commission. "What kind of deterrence does this serve if they can still keep (nearly all) of the profits from the trading...?" said Jill Gross, director of the Investor Rights Clinic at Pace Law School in New York.

EXAMPLE: A 65-year-old conservative customer of Wells Fargo with a stated net worth less than $50,000 held a non-traditional ETF for 43 days and sustained losses of more than $25,000.

Have you been denied health coverage?  See Pre-Existing Condition Insurance Plan.

•You must have been without health coverage for at least the last 6 months. Please note that if you currently have insurance coverage that doesn’t cover your medical condition or are enrolled in a state high risk pool, you are not eligible for the Pre-Existing Condition Insurance Plan.

•You must have a pre-existing condition or have been denied health coverage because of your health condition. Information about what documents about your pre-existing condition you need to provide with your application is available here.

https://www.pcip.gov/StatePlans.html

Are your brokerage fees excessive?

Find out by using a new service: SigFig. Some advisers charge customers “wildly different fees” — ranging from 70 basis points to 260 basis points — for the same services. For instance, some firms give a discount to large accounts, but the discounts don't necessarily line up with account size. “Basically, they charge you whatever they think they can get out of you,” Mr. Conrad said. Joe Duran, chief executive of United Capital, called SigFig a “revolutionary” product that will reward low-cost providers. https://www.sigfig.com/ Disclaimer: Insiders have not used this yet.

Do you know what Social Security will pay you each month?

“Our new online Social Security Statement, available at www.socialsecurity.gov/mystatement, is simple, easy-to-use and provides people with estimates they can use to plan for their retirement,” said Michael J. Astrue, Commissioner of Social Security. Members make a spending plan so there are no surprises: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016/

Have you shopped for auto coverage lately?

Insurers increase advertising to attract new customers.  You may be surprised by saving 30% on your premium because insurers are using more aggressive pricing. Use our Guide to save thousands of dollars over the next 10 years. http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

WA sued by women who want their health care

Dozens of women filed a lawsuit against Attorney General Rob McKenna, alleging that his participation in legal action to overturn federal health reform threatens access to comprehensive coverage for women. McKenna’s actions are not in the best interest of Washington state and its residents, which he is obligated by law to represent, the lawsuit says. http://www.columbian.com/news/2012/may/03/dozens-of-women-sue-ag-mckenna/

SCAMS                       Only the little people pay taxes.” Leona Helmsley

Which lobbyist is your “representative” hearing from today?

It will cost you to see your rep but you can let them know you need your tax benefits. See where and when to meet: http://politicalpartytime.org/

Another “too big to fail” bank/hedge fund

Wells Fargo will look more like its Wall Street counterparts after a deal announced Friday to buy Merlin Securities, a prime brokerage and technology provider. Wells announced the acquisition of LaCrosse Global Fund Services, a hedge fund administration and service provider, in September. Wells will set up a big trading operation to complement its retail bank like all the rest.

Former Fed banker warns oligopoly banks still can hurt us

“We cannot have a durable, competitive, dynamic banking system that facilitates economic growth if policy protects the franchises of oligopolies atop the financial sector,” Mr. Warsh told an audience at the Stanford.

Wealthy “Americans” line up to give up passports in Swiss capital

Rich Americans renouncing U.S. citizenship rose sevenfold since a UBS whistle-blower triggered a crackdown on tax evasion four years ago. Few have been prosecuted for hiding income however. They pay a fee of $450 to renounce!?!

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Social Security done 2033 Start Wealth Reserve Now

Social Security fund will run out earlier—2033         Time to start a Wealth Reserve.

High energy prices and an economy that has been slow to rebound are worsening Social Security's finances, shortening the life of the trust funds that support program by three years. Use our Tax-FREE Retirement  Only $12.95 at Amazon: http://www.amazon.com/gp/product/1475206976/ by our Insider Law Steeple.

Is your advisor, broker, money manager unbiased?

A former advisor comes clean and explains why it is not possible. http://www.aarp.org/money/investing/info-03-2012/two-sides-of-financial-planner.html

Members seek unbiased information and make their own decisions using our Unbiased Advisors Network: http://www.amazon.com/Unbiased-Advisors-Network-helps-tax-FREE/dp/1470106841/

Most hot tips—stocks or mutual funds—end badly for you! 

When a niche fund attracts a following, others try to replicate its success. As money piles in, valuations become inflated, and the cycle continues until eventually the bubble bursts. “New fund products often follow the trend instead of anticipating it,” says Jeff Tjornehoj, a research director at fund tracker Lipper.

The pattern occurs over and over. In 2000, 94 tech stock mutual funds and ETFs were launched, according to Morningstar -- more than in any other year -- right at the peak of the dot-com bubble. From the end of 2000 through the October 2002 lows of the bear market, the average tech fund lost a cumulative 64 percent while the S&P 500 lost 31 percent. Brokers make money buying and selling.

Lesson: Chasing the next big thing only helps the person who is trying to sell it.

5 old white guys will determine our health care fate in June

25% of workers lost health care coverage for some time in 2011

One-quarter of adults ages 19-64 experienced a gap in their health insurance in 2011 due to a loss of job or changing jobs, a non-profit group says. 62 percent of those who tried to buy a policy in the past three years said it was very difficult or impossible to find affordable coverage. 1/3 of those that applied were denied or lost some coverage due to pre-existing condition.

Maybe we should try the single payer system. Can’t be worse than the current one!

New car in your spring?

If you have the new car itch, think about scratching it with a 3 year old luxury model. The average new car loses nearly HALF its value in 3 years, according to Consumer Reports. http://www.usedcarblog.com/consumer-reports-most-reliable-used-car-list/

Members use their Wealth Reserve to lend themselves the money to buy used luxury and pay themselves back over 4-6 years, saving interest and assuring later goals are met. They look for value—EG: 2008 Lexus ES Certified 53K mi $25,000 in central Ohio.  Shop online. Know the competition. Be willing to walk away—that gets to salesmen all the time. They have no choice but to counter. New study says know price dealer paid: http://www.bankrate.com/finance/auto/dealer-new-car.aspx?ec_id=brmint_newsalert_20120427

Is your brokerage the highest paying one?—More for broker; less for you.

Topping the list is Commonwealth, Ameriprise, Wells Fargo.

http://www.investmentnews.com/section/broker-dealer-data-rankings?U=custom&F=ap#

Perhaps it is time to find a cheaper one. Members use Wealth Without Wall Street to buy only what they need. $15.65 at Amazon.  http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Long-term care policy price rise?

The average premium for $150 a day benefit has risen from $1,524 in 2007 to $2,269 in 2012 for a 55 year old in good health, 3 year benefit, 90-day deductible, and 5% compound inflation protection. You may be better off using a Wealth Reserve. Check: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X/

SCAMS                       Only the little people pay taxes.” Leona Helmsley

MetLife caught stealing from the dead, pays fine—no one goes to jail

MetLife will pay about $500 million in a multistate settlement after regulators reviewed whether companies were holding funds that should go to beneficiaries. Insurers are still investigating more than 445,000 potential matches for additional unpaid claims. "This investigation makes it perfectly clear that something must be done to make sure families across New York receive the life insurance benefits that they are due," Gov. Andrew M. Cuomo said.

Most scams start as someone you know providing information from thieves

Your co-worker, fellow parishioner, social gathering, etc. tell you of special situation. You don’t want to pass up a good opportunity and go “just to listen.” Then usually the sales pitch is so innocent and safe sounding that you think, “What can it hurt to give it a try with $2,000?” But it does hurt. Over time you can’t stop adding money since your statement looks great. You sell yourself and tell others, “I would like you meet Mr Madoff, he’s been great.” Madoff’s victims were not stupid people, just friends.

Who owns your account now?

Harleysville to Nationwide

MetLife reverse mortgage business to Nationstar Mortgage LLC

IAN

41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
www.InsuranceAdvisorsNetwork.com

Tax-FREE Retirement?

Will you be paying more tax in retirement?

Your Social Security is taxed—Up to 85% of your benefits are taxed. If you will have over $34,000 ($44,000 joint) in income from 401ks, pensions, annuities and IRAs, your benefits are going to be taxed. You may end up in a higher tax bracket in the future.  Now may be the time to increase tax-FREE income while you still can.

Use our Tax-FREE Retirement NOW so you can spend less on Medicare, which is priced on your income. Only $12.95 at Amazon: https://www.createspace.com/3852782 by our Insider Law Steeple.

Obama paid 20.5% tax on his income.            What did you pay?

Romney paid under 14%. If the capital gains tax is 15%, how did he do that? How does Buffett pay just 17%?

http://news.yahoo.com/obama-paid-20-5-pct-tax-rate-2011-145921502.html

You can use the rules like they do. Build Tax-FREE wealth:  http://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236

Do you want to save?

79% of people say they would rather have $500 dollars to spend five years from now than $50 to spend today, according to a survey. But that requires an investment earning 50% a year—NOT POSSIBLE legally. Members expect $100 to be worth $10,000 in the future using a tax-FREE financial system with low-cost mutual funds earning 10-12% a year. Building wealth takes patience. http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

MT health insurance rates spike

Federal health officials have labeled as "unreasonable" a 15 percent rate increase this year by one of the larger health insurers in Montana's small-group and individual market.

Yet the company said Friday it disagrees with the determination, and is going ahead with the increases, Assurant Health of Milwaukee said. Federal and state officials have no authority to stop the increase. All you can do is fire them like Romney but that assumes there are cheaper alternatives. Where is the public option?

GOP out of control?                Signals to the crazies to take action?

Santorum donor asks, Are Obama's 'Teleprompters Are Bulletproof'?

Is this the call to arms for the gun-toting vigilantes in Texas and Florida?

MI allows bikers to go helmetless      Live free or die?

GOP reverses safety law of over 50 years. Insurers and hospitals gear up for more business.

Where do special interests stand on ObmaCare?

Drug companies do not appear to be looking forward to having to go back to the drawing board on health-care reform if the landmark legislation is somehow struck down by an upcoming Supreme Court decision.

Doctors And AMA Split Over ObamaCare. Physicians treating Medicare beneficiaries receive 81% of the rate private insurers pay. For Medicaid patients, reimbursements are even lower — just 56% of the private rate. In 2009, underpayments to hospitals amounted to $36.5 billion.

Romney’s plan

"I'm going to probably eliminate for high-income people the second-home mortgage deduction," Romney said, adding that he would also likely eliminate deductions for state income and property taxes as well, according to NBC's Garrett Haake.

“I will send a lot of what happens in Washingtonback to the states."

Eliminate the Department of Housing and Urban Development, downsize the Department of Education. Romney’s plans are hidden away—not fodder for Dems to use against him.

Do you need a prepaid credit card?

Pay no monthly fee and no reload fee or no ATM fees. Your choice for emergency or your student book buys or safety (no cash carry)?

http://www.consumer-action.org/downloads/press/2012_Prepaid_Card_Survey.pdf

SCAMS

Wealthy have already figured out how to avoid new taxes!

The highest-earning U.S. households have ways to escape President Barack Obama's Buffett rule or other measure with tax-planning techniques that would limit their liability. Those affected taxpayers could take advantage of tax-free investments such as municipal bonds to escape the Buffett rule's bite. Their tax rate—the one they actually pay—fell from almost 30 percent in 1995 to just over 18 percent in 2008, according to the Internal Revenue Service.

Wealthy also use complicated borrowings that never get repaid, netting the beneficiaries hundreds of millions in tax-free cash. Frank McCourt paid no income taxes for years. Executives with company shares borrow against them, invest, pay tax later with gains.

RE partner wants out: he has firm borrow cash he needs, invest or hides from taxes.

Leave future stock earnings to the kids and escape the estate tax with a GRAT.

“Freezing” the value of an estate, so taxes don’t eat up its future appreciation.

Stock options allow executives to calibrate the taxes on their compensation much later.

Using, but not unloading, underwater stock shares to adjust your tax bill when you want.

An investor can sell property without actually selling—or incurring taxes using partner.

PUA cash value life insurance loans provide tax-avoiding benefits.

Converting traditional IRAs to Roth IRAs. Future accumulations tax FREE.

Executive’s deferred-compensation plan can mean decades of tax-free growth. http://www.businessweek.com/articles/2012-04-17/how-to-pay-no-taxes-10-strategies-used-by-the-rich?campaign_id=yhoo

Here we go again?                  Too Big To Fail bankers use us as backstop to save them

Credit default swap (CDS) spread movement and liquidity for Goldman Sachs, Morgan Stanley and Bank of America is showing elevated pricing risk, according to Fitch Solutions in its latest earnings commentary.

If Washington could just stop the bleeding

Fraud, waste and abuse cost the Medicare program $48 billion in 2010. The health care industry has begun incorporating the latest technology from the banking industry to catch fraud, waste and abuse earlier. “Have you ever gone on a spending spree only to get a call from your credit card company that same day to make sure your card wasn’t stolen?” Stubbers asked. “In the same way, health plans have begun detecting claims that might be out of the ordinary to stop fraud before it happens.”

Fed takes the 5^th after scandal of wasting our tax money

We paid for an October 2010 Las Vegas conference that cost $823,000. The regional executive who hosted the Western Regions Conference, Jeffrey Neely, invoked his Fifth Amendment rights and his chair remained empty the rest of the House Oversight and Government Reform hearing. He could face a criminal investigation. He got a $9,000 bonus for it too. His boss resigned and fired another without getting money back.

Who owns your account now?

Edelman Financial to Lee Equity Partners

Old Mutual mutual funds to Touchstone Investments

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

"Only the little people pay taxes"

Tax return done?
Ask for extension to file taxes if you will miss April 17. You can obtain an extension for the paperwork buy you still have to send in your check by April 17. Send this form: http://www.irs.gov/pub/irs-pdf/f4868.pdf

“Only the little people pay taxes.” Leona Helmsley
See why, below, under SCAMS

Is your “paid up”life coverage really paid up?
With low interest rates in their 3rd year, insurers are cutting the crediting rates on your policies. This means your policy is not working out as promised by the agent. Some insurers may let your coverage lapse because then they don’t have to pay the death benefit. The cash value is probably gone. Alternatives: You can lower the DB and pay less. You can ask for a new projection of premiums to see if you or your heirs might want to keep paying. After all, they will benefit. You can sell the policy to investors through life settlement agents. Check http://www.lisa.org/ WARNING: Read the mouse type—taxes may be due.

Uncle Sam wants you to buy an annuity—but is it right for you?
Regulators propose to make it easier for you to use part of your retirement accounts to buy longevity annuities (deferred income annuities) that start your payouts many years after retirement, typically at age 85. All annuities have extra costs above what you can have your IRA trustee do for you at no cost. Usually you have limited means to retrieve your money if you need it. Some annuities end at death with the insurer keeping your unused balance. Others can pay you and your surviving spouse. There are alternatives that pay more: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

CA flood coverage rising
Flood insurance is on the way up for low-lying properties in the Ross Valleyand Mill Valleyas the Federal Emergency Management Agency prepares new flood plain maps. Kathleen Schaefer, a FEMA official, said that as local flood improvements are made, the agency will revise its maps, enabling lower prices for insurance. She added flood insurance backed by the government averages about $484 a year, but can range up to $2,800. It is important to shop around.

Is online home inventory right for you?
Now you can keep all your documentation for an insurance claim online so you are ready to present your claim when needed. http://www.homezada.com/ organizes your pictures and receipts and documents so you don’t need a place to secure your pictures and inventory listing OUTSIDE your home. This is a great idea but the cost is $99 a year. Seems like you can just backup your computer with the same information and kill 2 birds with one stone. Some use http://www.carbonite.com/which offers unlimited backup for $59. Depending on your backup needs, there are three different plans to choose from. I keep my important stuff in another hard drive AND as an email to my self—FREE.

Are Exchange-Traded Notes, ETN, right for you?
ETNs are unsecured-debt instruments that track an index. ETNs don't hold anything: They are contracts between an investor and an investment bank stating that the bank will deliver the return of an index minus fees. In recent weeks, ETNs issued by Credit Suisse Group AG and Barclays PLC have drawn scrutiny from regulators and brokers-dealers, because their shares began to trade at extreme premiums to their respective indexes. After the banks stopped issuing new shares of the notes, demand for the shares drove prices to around twice the actual net asset value of the notes. When Credit Suisse announced it would start issuing new shares of its ETN again, the premium at which the existing shares were trading was wiped away; share value plummeted 50% in two days. This is not a wager you want to make unless you have insider information. Members invest without Wall Street: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

CA calls Aetna out on rate hike
California regulators have formally declared an April 1 rate hike from Aetna Inc. on small employers "unreasonable," but the insurer isn't backing down from the hike. Annually, the hike amounts to an average 8 percent increase. CA determined the hike to be unreasonable after state actuaries found that Aetna's projections about medical cost increases weren't supported by actual claims. Aetnamade a 27.7 percent profit in 2011. Members shop for health cover often.

Tea Party supports BrounCare as alt. to ObamaCare
The Rep Broun plan is “a very simple bill that lowers costs for everyone. Plus, we cover those who cannot afford it by giving states money to help the uninsured get care.”The bill doesn’t directly address Medicaid, as Broun has co-sponsored another bill, the State Health Flexibility Act, that converts Medicaid into a series of block grants for the states. The Broun plan would allow seniors to opt out of Medicare, and seek out their own insurance instead. It’s not clear that an opt-out provision is compatible with the premium-support formula that Broun has conceived. One detail not worked out: Healthier seniors would be the ones who would choose to opt out, leaving sicker retirees on Medicare. Poor people would want to move to states with bigger block grants for better care. Broun’s plan would revolutionize the insurance market, by incentivizing employers—particularly smaller ones and startups—to pay their workers directly in wages, and let those workers decide how to pay for their own care. Why would an employer pay extra wages so employee can buy care when they know most employees will keep the money and wait at the emergency room. When they get sick, the Broun’s plan lets ER refuse care and gives doctors tax credits to treat uninsured sick. http://www.forbes.com/sites/aroy/2012/04/07/the-tea-partys-plan-for-replacing-obamacare/?partner=yahoofeed As always, the devil is in details. 1%ers love BrounCare!

PA setting up health insurance exchanges with fed help
Simplifying the process for consumers is the goal of the insurance exchange. Those needing insurance will log onto the exchange, enter their ZIP code, and be electronically routed to qualified providers where their offerings are presented. Policy rates are difficult to predict, but each policy for sale will be a "qualified" (what services will be deemed "essential" has yet to be decided) health plan that is Pennsylvania-licensed and accredited. The process may refer qualifying people to sites that deliver government-funded CHIP and Medicaid options. Health insurance purchased on the exchange will be guaranteed issue, with no medical questions asked. The policies will rely on widely dispersed risks and costs for viability. "Many industry insiders forecast that exchanges represent the future approach of health insurance sales," one observer said.

VT welcomes exchanges
Three out of four (75 percent) Vermonters say they are interested in using "an online health insurance exchange" to compare and purchase health insurance... Employers cutting health care from benefitsA new survey found the percentage of all adults who get their health insurance through an employer trended down from 49.8 percent in 2008 to 44.5 percent currently.

Apple CEO paid $1 million A DAY! How many jobs is Cook creating in the US?
The median chief executive in this group took home $14.4 million — compared with the average annual American salary of $45,230. But can American workers afford to buy stuff to make the economy grow. The workers who actually make Apples can't afford to even look at one!http://www.nytimes.com/2012/04/08/business/in-chief-executives-pay-a-rich-game-of-thrones.html

Bush wishes the tax cuts were not his!
Former President George W. Bush said he wishes the " Bush tax cuts" had someone else's name attached to them because "if they were called somebody else's tax cuts they'd probably be less likely to be raised." The so-called Bush tax cuts, enacted over the course of Bush's first term between 2001 and 2003 are set to expire at the end of this year and are sure to be a campaign issue in November. Tax cuts and two wars made the deficit what it is today. http://maddowblog.msnbc.msn.com/_news/2011/07/26/7170139-charts-seriously-its-the-bush-tax-cuts

GOP out of control?
FL Rep. Allen West says that up to 80 House Democrats are secretly members of the Communist Party. Worse: His supporters and others actually believe it. Back to 1950s?
(West says the members of the Progressive caucus are Commies.)

Another rate hike for long-term care insurance?
A look at the future of health care too!
The long-term care insurance market is struggling, and some companies are dropping out of selling the insurance to individuals. Others are raising premiums, but nobody is raising them as high as John Hancock, where some long-term care premiums in other states are jumping as high 90 percent. The actuarial numbers used to create these plans years ago turned out to be wrong. People are living longer than planned. They stay in nursing homes longer. The premiums they paid were too low. Insurance companies make their profits on investments, and it hasn't been happy days in that area for the last few years. Members look at alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X/

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

Corp tax receipts continue to fall. Lowest in developed world!
Citizens for Tax Justice surveyed major U.S. companies and found that 26 on average paid no net federal income taxes between 2008 and 2011, among them General Electric and Duke Energy. Revenue from corporate income taxes fell from between 5 percent and 6 percent of gross domestic product in the early 1950s to about 1.3 percent of GDP in 2010, according to the Tax PolicyCenter, another tax research group. Taxpayers gave our taxes back to GE, BankAmerica, Boeing, Citigroup, Exxon, Google, Merck, Pfizer, FoxNews, Verizon, Wells Fargo, and others after they all made profits.

The GAO (the Government Accountability Office) found that 18,857 US companies keep a post office box in one five-storey building in the Cayman Islands.In fact, 80 percent of the largest US corporations use offshore tax havens. Little wonder 57 percent of these companies paid no federal income taxes for at least one year from 1998 to 2005. General Electric keeps its tax rate low -- an average -19% (negative 19 percent) A REFUND between 2008 and 2011 -- primarily by using tax benefits from its leasing business to offset profits in other units, such as the company's finance arm. Others use accelerated depreciation which lets firms deduct the cost of equipment from profits quickly. Accelerated depreciation will cost the U.S. Treasury $37 billion between 2010 and 2014. Some use special credits obtained by lobbying each level of government. http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=263&Topic2id=70http://thinkprogress.org/economy/2011/07/05/260535/graph-corporate-tax-second-lowest/?mobile=nchttp://communities.washingtontimes.com/neighborhood/ad-lib/2011/apr/10/tax-evaders-wall-shame/

Swiss continue to hide American tax evaders! “What treaties?”
A Swiss court blocked the handover of one unnamed bank client's data to U.S.authorities. The Federal Administrative Courtsaid a 1996 treaty between Switzerlandand the United Statesdoesn't allow the U.S. Internal Revenue Service to request the account details of potential tax cheats without clear evidence of fraudulent intent.Drawing on Switzerland's distinction between evasion and fraud, the court said evidence of tax evasion, such as failure to declare a Swiss bank account, didn't provide sufficient grounds for the IRS to receive the data. It also criticized the fact that the IRS didn't specifically name the suspected tax cheat in their information request.The IRS had asked its Swiss counterpart in September to provide details on certain types of American clients who it said had received help from Credit Suisse in hiding income and assets in secret accounts. Nationalist People's Party says they will try to block the treaties.

NJ Health care report cards http://www.state.nj.us/health/healthfacilities/asc_info.shtml

IAN 41 Watchung Plaza, B242 Montclair, NJ07042 973.746.2014
www.InsuranceAdvisorsNetwork.com

How much will YOU have?

Recent survey says 60% of working Americans have less than a $25,000 nest egg
More than half are worried about their job security and thus are not saving more. Half of us expect to receive a company pension yet only 33% actually have one now. Most workers have no idea how much it will take to live on in retirement but claim they will have enough. Get a plan: http://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938/

AZ favors mandate for auto insurance but not health care
A bill to let police tow and impound cars without insurance met a narrow defeat in Arizonalast week, highlighting the attention paid to the issue by the state and the harsh penalties for driving without coverage there, according to Online Auto Insurance News. Estimates from the Insurance Research Council put the number of uninsured drivers in Arizonaat 12 percent, which is just below the U.S.average of 13.8 percent, according to 2009 data.

The GOP mandates many new fees like women’s health test that women must pay for.

A NM town mandates insurance for having a “vicious” dog because someone might get hurt.

GOP against ObamaCare mandate which requires insurance in case someone gets hurt.

MI voters testing the limits of state authority and the rights of local democracy
In a replay of the American revolution, voters have signed a petition to have an election, something the state government took away last year. Voters want to repeal the emergency manager law, which effectively voids local democracy. Advocates say local leaders should maintain responsibility for local problems in a democracy. Emergency managers were installed by MI GOP to void local control due to overwhelming debts.

Is Allstate’s Claim Satisfaction Guarantee right for you?
If you are “not happy with your experience” after they pay your claim, they will “give you up to a six-month credit on your car's premium.”But you can’t drop Allstate because of bad service and receive the credit. This marketing tool increases renewals at very low cost. You have to tell Allstate why you are not happy in writing. Most people aren’t going to do that. But if the service is bad, why stay?

Job hunters beware
An increasing number of employers are requesting that job applicants provide their Facebook passwords in order to review the applicants’private Facebook profiles as part of the hiring process. Even a cursory review of an applicant’s profile page can provide an employer with a wealth of knowledge about the potential hire and often plays a role in the hiring decision.

Homeowners—beware if you live in a gated-community !
The killing of unarmed teenager Trayvon Martin may lead to civil lawsuits -- for which George Zimmerman and other homeowners in his gated community may eventually have to pay.Civil liability may be found for all homeowners in gated area even if it is not a crime to kill unarmed person in enclosed area. Watches don’t carry guns! http://www.reuters.com/article/2012/04/02

Is an annuity right for you?
Annuities have gotten bad press because sellers have been pushing at certain type called a “deferred” annuity. This type offers tax-deferred growth of your single premium amount in return for the promise of a higher earning rate than the current bank CD. It is the preferred product of sellers due to a large commission—up to 15% or more. The fees may not produce the returns you were promised. A real annuity is called an “income” or “immediate” annuity. This type may actually make sense for you. It offers a fixed or rising monthly payment in return for your single premium deposit. It pays less commission. The insurer is investing in securities for thousands of clients, knowing that a certain number will die before, and after, their expected lifetimes. You can use this annuity to guarantee you receive a monthly income for the rest of your life. If longevity is in your family, this is a winner for you. Members can obtain the highest monthly amounts using our insider’s information. Today a 65 year old male can buy $579 a month for life for $100,000. There are alternatives that pay more: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

SCAMS
Financial advisors/brokers mislead customers, large and small. A working paper released this month by the National Bureau of Economic Research, financial advisers are often more likely to give advice that will lead to higher fees for them than higher returns for their customers. These economists sent hundreds of fake clients to financial advisery firms, banks, and brokerages around the Boston area and found that in many cases those advisers actually steered their clients away from more productive investments to less productive ones that produced more fees. They also found customers don’t believe a simple strategy like investing in an index fund can be the best long-term vehicle. SURPRISE--we have been brainwashed to think Wall Street knows best.

David Lerner Associates overcharging retail customers on sales of more than 1,500 municipal bonds and 1,700 collateralized-mortgage-obligation transactions. It was ordered to pay more than $3.7 million in fines and restitution.

Bankers Life settles charges it ran unlicensed Broker-Dealer operations

Lottery works—States got half the $560 M jackpot--without raising taxes. In NJ, Christie can pay for the helicopter he uses to take him to his kid’s games. More than $96.7 million in tickets were sold in New Jersey in the two-month stretch leading up to the winning drawing, according to the lottery statistic sheet. The GardenState will get to keep $40 million, while retailer sales commissions accounted for $4.8 million.

Overpaid players go broke by taking friend's advice
80% of former NFL players have gone bankrupt or are under financial stress. Within five years of retirement, an estimated 60% of former NBA players are broke. They claim they were mislead. Like Madoff, their friends told them advisor was pillar of industry. http://www.investmentnews.com/gallery/20120328/FREE/328009999/PH
http://sportsillustrated.cnn.com/vault/article/magazine/MAG1153364

IAN 41 Watchung Plaza, B242 Montclair, NJ 07042 973.746.2014
www.InsuranceAdvisorsNetwork.com