Financial power in the 21st century

Financial power for the 21^st century

Will you have enough in retirement? Now is the time to find out.

You could have about $250,000 extra to supplement your Social Security benefits in about 15 years. Will You Have Enough? takes you through the process of determining how much you will have. Law Steeple has been an industry executive for over 20 years.

http://www.amazon.com/Will-You-Have-Enough-retirement/dp/1477594086/ $12.95

Seniors are the target of scammers—“That is where the money is”

Nearly 60% of the respondents — all professionals who work with the elderly — to an online survey conducted by Investor Protection Trust said that they deal with elderly victims of investment fraud “quite often” or “somewhat often.” Nearly every one of the 763 participants in the survey said that the problem of financial exploitation of the elderly is “very serious” or “somewhat serious” and 84% said it was getting “much worse” or “somewhat worse.” The survey by the nonprofit included 76 state securities regulators and 77 financial planners, in addition to medical professionals. Members have solved that problem: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

CA insurer manipulated system to get rid of sick? This is RomneyCare?

Blue Shield has used enormous rate hikes, and the threat of rate increases, to force patients into lower-benefit and higher-deductible health coverage in violation of state law. BS gamed the system by alternately closing older policies and opening new ones in order to push older, sicker consumers who are more expensive to insure into lower benefit, higher deductible coverage that requires consumers to pay more out of pocket.

The lawsuit seeks to stop Blue Shield from shoving its policyholders into what is known as a "Death Spiral"–the industry term for what happens when a health insurer "closes" certain insurance policies to new customers, and later raises rates to those remaining in the closed policy until those enrollees can no longer afford coverage. "Blue Shield closed my family's policy and then threatened us with a 23% premium increase. We had no choice but to switch to the only bare bones policy Blue Shield offered us. When Blue Shield canceled the original rate increase, the company refused to let us transfer back into our old, higher benefit policy. Then, Blue Shield raised the rate of our bare bones policy by 14.8%!" said Robert Martin of Gilroy, litigant.

Middle class can’t sustain American economy—Rich take more income!

The average American family saw their net worth drop 40% in that three-year time period from $126,400 to $77,300. Three-quarters of the loss, not surprisingly, is due in large part to falling home prices, which have seen no reprieve since the housing bubble began to burst in 2007. The average homeowner saw their net worth fall more than $70,000 from roughly $250,000 in 2007 to $175,000 in 2010. But what is surprising is the fact that overall net worth has fallen to levels not seen since the early 1990's, long before the housing bubble even began. In three years, 18 years of savings have been wiped away for the majority of the country and at the same time wages have fallen. The average income fell from about $50,000 in 2010 to $46,000 in 2007.

But this negative trend does not stop there. As average families become poorer, rich Americans are growing richer. The Fed survey showed the wealthiest 10% of families actually saw their net worth rise from 2007 to 2010. Over that time period, their net worth increased from $1.17 million to $1.19 million. http://www.federalreserve.gov/pubs/bulletin/2012/pdf/scf12.pdf

Where have all the job-creators gone with their Bush tax cuts?

The continued decline of the American middle class and the ascent of the rich has resulted in income inequality at levels not seen since the Great Depression. While the bulk of consumer spending has historically come from the middle class, if the majority of Americans continue to suffer from falling wages and income, eventually something has got to give. There is no possible way for the super-rich to buy enough stuff to float the entire U.S. economy.

It's growing increasingly clear that we live in drastic times and drastic measures must be taken to save the country's middle class. One drastic measure is that more Americans are putting off retirement because they simply can't afford it.

But with Americans living longer and putting increased strain on programs like Social Security and Medicare, the retirement age is going to have to be raised for one reason or another.

Members create a tax-FREE Wealth Reserve: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

Your Affinity group may obtain discount insurance

Members of Ducks Unlimited, the world leader in wetland and waterfowl conservation, now have access to special group discounts on auto, home, and other property and liability insurance from MetLife Auto & Home and other national insurance companies through a new program designed just for members of Ducks Unlimited. Your alma matter or church or civic organization my offer you a discount too. Check our list: http://www.amazon.com/gp/product/143480593X/

Insurers give back premiums

Health insurers are expected to rebate $1.3 billion in premium charges to employers and consumers by August because the companies didn't spend enough on customer coverage in 2011. "This study shows that asking insurance companies to put more of their premium dollar toward patient care rather than administration and profits is not only popular but also effective. There are tangible benefits for consumers and employers," said Drew Altman, Kaiser Foundation president and CEO.

Insurers and employers say they will continue with reforms despite Supremes’ political decisions

Some insurers will continue to offer important health care insurance protections that were included in the 2010 health care reform law, no matter how the U.S. Supreme Court rules in cases currently pending before the Court. For instance, there are 7 millions of young on their parents’ insurance because they have no affordable coverage. The GOP may force them off and raise the uninsured to over 50 millions. “Fewer Americans would need to remain on their parents’health insurance if they had stable, full-time work,” GOP DeMint wrote. Yes, the point is they don’t.  http://www.businessweek.com/news/2012-06-08/health-law-adds-6-dot-6-million-young-adults-to-parents-u-dot-s-dot

Socialism for the rich—Hungry will have to rely on charity

A New York senator will try to cut $4.5 billion from the nation's publicly subsidized crop insurance program to preserve spending on the nation's food stamp program.

Sen. Kirsten Gillibrand, D-N.Y., will offer an amendment to the new farm bill that the Senate could vote on as early as Tuesday. The farm bill, which is of particular importance in Minnesota and other Farm Belt states, contains an expansion of the crop insurance program designed to make up for the elimination of direct payments to farmers.

Gillibrand said on Monday that the Congressional Budget Office has estimated that food stamp cuts currently in the farm bill would take away an average of $90 per month in payments to nearly half a million households.

Will lobbyists or the poor win?

Two of our “friends” helping Iran evade sanctions by giving insurance and we let them!

Indian state-owned refiners will halt planned oil imports of 173,000 barrels per day from Iran when European sanctions take effect in July, unless the government permits them to use insurance and freight arranged by Tehran, industry sources said. Japan's cabinet ministers approved and submitted a special bill to parliament on Monday to enable the government to provide insurance cover for Iranian crude imports once a European Union ban on insurance and reinsurance takes effect on July 1.

Plus ING Bank pays fine to bank for IRAN

ING Bank NV agreed to pay $619 million to settle U.S. government allegations that it violated U.S. sanctions against Cuba, Iran and other countries. It was the biggest ever fine against a bank for sanctions violations, officials said.

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

Will States need a bailout next? 

Banks cash-in on their own failed products. New York State, for one, has paid $243 million in recent years to extricate itself from swaps-related debt. That money went straight from taxpayers’ pockets to Wall Street.

Corporations rarely do deals like these, because they generally avoid making long-term bets on interest rates. But bankers sold the idea to public borrowers. The total bill to terminate all of these swaps-related deals would run into many billions.

“Derivatives are time bombs,” Warren Buffett

http://www.nytimes.com/2012/06/10/business/banks-could-return-a-favor-to-governments-fair-game.html

Insurers low-ball your claim by changing settlement software program

A newly released report by a former Allstate Corp. claims executive working at a consumer rights group alleges that most of the nation's biggest insurance companies use computer systems that can be manipulated to underpay injury claims.

The report was issued Monday by the Consumer Federation of America, whose claims project director, Mark Romano, had worked for the Northbrook-based insurer, as well as CNA and Hanover. Romano last year joined the Consumer Federation of America as claims project director.

"This report is a wake-up call for consumers and regulators who are not aware of the many ways that computer claims' software can be manipulated to produce unjustifiably low injury payments to consumers and tens of millions of dollars in illegitimate 'savings' for insurers," Romano said in a statement.

We have to hire a claims adjuster to speak for us. http://www.consumerfed.org/news/536

AIG continues to play games with the law despite US ownership

AIG will pay California $15.6 million in penalties to settle allegations that its insurance companies underreported workers' compensation premiums over several decades. America still owns AIG but treasury lets them carry on these scams

Our ‘representatives’ bought $180 million in drones that just sit near border

Sounds like another military industrial complex cost overrun at the Pentagon. “We don’t need anymore.” “Sorry, we already gave the $ billion contract to AeroVironment for more drones instead of helos.” http://cdn.theatlantic.com/static/mt/assets/science/OIG_12-85_May12.pdf

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

How much can you spend in retirement?

Do you know how much you can spend in retirement?

Check your plan before you hit retirement. You have time to fix it if you don’t have enough. You can check your Social Security benefits online at http://www.ssa.gov/mystatement/. Complete the worksheet for definite answers in

Your Retirement Spending Plan

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

Did you know your 401(k) fees may be 46 percent higher than fees required?

Most of us don’t know how much we are paying. Most of us believe the Wall St myth: Employees believe that higher fees guarantee higher returns, according to a recent study. Actually, the opposite is true. Lower fee index funds often have higher net returns than higher fee actively managed funds. Stock pickers can’t pick the right stocks all the time AND charge fees that are up to 40 times higher--$5 per $10,000 vs. $271 every year. Compare your plan to others: http://www.brightscope.com/401k-rating/367778/Google-Inc/372789/Google-Inc-401K-Savings-Plan/

Most mutual fund holders can save $3,000 a year on fees by switching to the low-cost leader and NOT suffer poor returns. Over time, our members have increased their nest egg by $200,000 to $500,000 by using the two low cost firms: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

Can you save on home insurance claims?

Yes. Basic maintenance can save the expense and time of home losses. Here is a checklist of things that you can do: https://www.travelers.com/personal-insurance/renters-insurance/home-maintenance-guide.aspx#spring

Need an unbiased planner to check your plan?

Vanguard, owned by its shareholders, not the fund managers, is offering planners to help you make sure you have what you need. Trained to advise not sell, these Vanguard employees may help you with little or no cost to you because you are a shareholder.

https://personal.vanguard.com/us/whatweoffer/advice/certifiedfinancialplannerABTest?Link=facet2

Women lack nest egg for retirement and live longer—Double disaster GOP could fix

There's a gender gap in the workforce, and it needs to be addressed. Women earn 77 cents for every dollar men earn -- 64 cents for African American women and 56 cents for Latinas -- which adds up to a loss of about $431,000 over the course of their professional lives. No one, on either side of the aisle, wants women to be discriminated against in the workplace. And yet, the Paycheck Fairness Act failed in the Senate on Tuesday. The procedural vote was along party lines, with 46 Republicans voting against it, 50 Democrats voting for it, two independent senators joining the Democrats, and Republican Senator Mark Kirk of Illinois not voting at all. Members create tax-FREE fund for family survivor:

ObamaCare benefits unknown to 80% of Americans

78 percent of consumers who would be eligible for new health care coverage under the Patient Protection and Affordable Care Act have never heard of the state-based health care exchanges where they will have to shop for coverage beginning in 2014. In addition, 60 percent of respondents said they believe they will need help in understanding health care insurance terms and descriptions and navigating the complex health care system. It is no wonder that the public is unfavorable.

Can GOP buy the President position next?

Unions outspent by Koch’s governor Walker in WI—a 21 to 3 ratio election dollars

"This is one election," Chris Fleming, the media director for the American Federation of State, County and Municipal Employees, told Yahoo News of the recall, adding that the left was heavily outspent in this race. "We cannot compete with the Koch brothers and all of Walker's millionaire and billionaire megalomaniac friends who want to take control of the government." Walker personally raised about $21 million, significantly more than the $3 million raised by Democratic challenger Tom Barrett, the mayor of Milwaukee. And Walker additionally benefited from major spending by outside tea party groups and super PACs.

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

AFLAC’s duck gets plucked for messing with customer cash

State split up $1.6 million settlement with Nebraska-based American Family Life Assurance Co., known as AFLAC, after a multistate investigation found numerous problems with the insurance company's practices. Regulators found almost every insurer scam that has been practiced over the years, including agent promises not from insurers, duplicate coverage, churning, pushing bad products, changing dates, rebating and illegal incentives. AFLAC gets to continue these until December because they didn’t admit they were wrong. The $1.6 million will be added to the premiums. No one goes to jail. 

-- Lack of proper supervision of sales, ads made and distributed by insurance agents/brokers, and bonuses and other incentives

-- Sales of duplicate accident and health coverage

-- Sales of policies that replaced or converted existing ones

-- Cross-border sales

-- Suitability/overselling

-- Policies that had waiting periods

-- Record retention and claim-date stamps

-- Discounts and special offers

-- Offering value-added services

AFLAC has not admitted or denied any legal violations. The company agreed to submit compliance reports to the department every six months for a total of three years, starting this December.

Cult leader lived on members death benefits but now charged with murder

The self-proclaimed leader of a Kansas commune that lived off life insurance payouts of its dead members has been ordered to stand trial on a charge of premeditated first-degree murder. Sedgwick County District Judge Clark Owens entered the order Thursday at the end of a preliminary hearing for 52-year-old Daniel U. Perez. Perez is accused in the 2003 death of Patricia Hughes at a compound near Wichita. It was initially listed as accidental. Defense lawyers contended there was not enough evidence to put Perez on trial. Owens disagreed and scheduled a jury trial for July 30.

Life insurance policy requires the beneficiary have an “insurable interest.” Was Hughes Perez’s wife? Was agent in on another scam gone bad?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

35,000 wealthy households pay $0 tax

Rule for brokers to “do the right thing for the customer” put on hold …again

DOL and SEC likely will delay any moves until after Nov. vote. Lobbyists have been working on the delay for two years. Obama won’t push the “fiduciary” rules until after the election. We will have to wait to obtain this protection against the industry taking advantage of us—pushing bad and expensive products—with no full disclosure. Members assume there is no unbiased advice and buy direct for less:  http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

Three investors beat up their advisor for losing $3.6 billion—investors, not advisor, sent to jail

Three German senior citizens were convicted last week of kidnapping and brutally beating their financial adviser. The unhappy trio, who range in age from 61 to 80, bound and gagged the adviser, James Amburn, broke two of his ribs, then tossed him in the trunk of a car for a 300-mile drive to a lakeside house. There, he was imprisoned in the basement. The three abductors were upset because the adviser lost $3.6 billion of their money on investments in Kuwait and Florida real estate. The trio forced Mr. Amburn, 58, to sign papers stating he would get them their money back. He faxed a note to SWAT who freed him. The investors, not the advisor, got 15 years.

Housing has become the new Gold

House hunters are flocking to foreclosures. Low mortgage and low price can’t be beat!

http://www.usnews.com/news/blogs/home-front/2012/05/30/house-hunters-flocking-to-foreclosures-for-value

Gold value dropping like lead during Ero crisis

It fell 6% in May alone. For many investors, this commodity was the refuge they dreamed about. It was considered the “safe” investment. It was nirvanna for GOP conservative Ron Paul. However, commodities do not hold their value over time. Like real estate, they go through bubble phases. How can you invest for the future in an unsettled world? Hang on! Money is pouring into index funds. There is the No Sweat Way: http://www.amazon.com/No-Sweat-Investing-your-money/dp/1469961687/ by Insider, Law Steeple.

401(k) fees could reduce the average nest egg by 30%, study says

The average U.S. couple could pay nearly $155,000 in fees for their 401(k) plans over their careers, according to a recent study. Compare how much you are paying at http://www.brightscope.com/401k-rating/367778/Google-Inc/372789/Google-Inc-401K-Savings-Plan/. If you earn 5% but pay 1.5%, and lose 2-3% to inflation, net 1%. 

http://www.latimes.com/business/la-fi-401k-fees-20120530,0,6918904.story

 
You can do something about it now before you lose $155,000. Lower fee plans are available. Use our http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

Boomers leaving money to charity not the kids

Leaving a legacy in a bequest was up nearly 19 percent in a year to almost $23 billion in 2010, according to the nonprofit Charity Navigator. Baby boomers have especially been interested in establishing a legacy. Three-fourths recently told pollsters that passing down family values and life lessons was more important than the monetary amount they're leaving in an inheritance, according to a recent survey by Allianz Insurance.

"We grew up in a do-good generation -- we were going to change the world," said Christine "Christy" Lambertus, a Fort Lauderdale board-certified, estate-planning attorney who is planning to leave a legacy. Members plan their wealth transfer wisely: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Is high-deductible health insurance right for you?

More than 13.5 million Americans are covered by Health Savings Account (HSA)-eligible insurance plans, a more than 18 percent increase since last year, according to a new census. If you have few health needs, this may the right plan for you. You buy a comprehensive policy that covers all major medical needs with a high deductible. This makes the cost reasonable. If you have surgery, all is covered after the first $3,000 for instance. If you have to buy insurance, the premium is cheaper than a HMO or PPO. The HSA is an account that lets you pay for your deductible and small out-of-pocket expenses with pre-tax income. This means that many self-employed people are going to pick this option in order to control their health and tax bills better. If you are offered this plan at work, take the expenses you had last year and compare to HMO costs. Make sure you can see specialists, your own doctor and hospital. Use our Guide to help you compare:

http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

ObamaCare benefits cited by Washington State officials

Reform would extend Medicaid coverage to 328,000 of the state's uninsured and give premium subsidies to another 477,400. Those who don’t have care would be able to use the state’s exchange to buy it. The Plan is not perfect but is better than the current lack of insurance for 74% of state’s uninsured residents. Three old white guys will decide to reverse the law of the land this month. Many pray.

http://insurancenewsnet.com/article.aspx?id=344296&type=lifehealth&inl=1

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

35,000 wealthy households paid NO taxes in 2009, says IRS this week

"Under Obama's plan, these people would almost certainly pay more. Under Romney's, they will almost certainly pay less." Percentage of high earners avoiding taxation on the rise; tax-exempt interest from muni bonds and charity are the main drivers. http://www.irs.gov/newsroom/article/0,,id=257605,00.html

Wellfare for Rich: Farm bill gives payments to corp as soon as they claim revenue down

Agribusiness can start collecting as soon as their accountants can show a revenue drop. Corp will no longer have any risk of too much crop that lowers prices. The supply-demand market will not work. Prices will be supported. We will pay them more in subsidies as prices of bread etc fall. Deficits will rise. Senate takes up bill.

http://www.aei.org/article/economics/fiscal-policy/field-of-schemes-the-taxpayer-and-economic-welfare-costs-of-shallow-loss-farming-programs

US Corp CEOs hit jackpot—a $10 million average paycheck: Workers lose 7% and falling

The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press. That was up more than 6 percent from the previous year, and is the second year in a row of increases. The figure is also the highest since the AP began tracking executive compensation in 2006. Companies trimmed cash bonuses but handed out more in stock awards. For shareholder activists who have long decried CEO pay as exorbitant, that was a victory of sorts? http://www.usatoday.com/news/nation/story/2011-09-13/census-household-income/50383882/1

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

$1,000 becomes $100,000 tax FREE

Every $1,000 invested becomes $100,000 tax-FREE in retirement

The best long-term investment (retirement) is a low-cost stock mutual fund. Morningstar found that “low fees are the single best indicator of superior performance,” not the manager’s record or anything else. Each $1,000 you invest grows to $100K. 20 contributions invested for the long term provides $2 million tax-FREE. Start your trust NOW: http://www.amazon.com/Tax-Free-Living-2012-strategies-build/dp/1477452702/

Saving $1,000 every year on auto/home?

Insurers are fighting for market share. 1 hour of shopping can clinch a nice bonus. Find your last ‘dec’ (declaration) page and call 3 “direct writers.” Use our Guide to buy only what you need (avoid the extras and duplicates you already have): http://www.amazon.com/Drop-Your-Insurance-Only-What/dp/1448623391

Allstate recently ranked Pennsylvania fifth among states with the greatest numbers of dog attack claims, up 34% over last year. Dog attacks are one of the top 5 claims in most states.

Is your home just about to have a claim?

These ten tips for filing claims can save you $1000s

http://realestate.findlaw.com/owning-a-home/top-ten-tips-for-filing-fire-insurance-claims.html

Tax credit up to $5,000 for health insurance purchase

Today, the Treasury Department issued final regulations implementing the premium tax credit that will give middle-class Americans unprecedented tax benefits to make the purchase of health insurance affordable. Individuals and families who qualify for assistance (income $22,350 to $89,400 for a family of four in 2011) will receive premium tax credits of over $5,000 per year on average. Older Americans who face higher premiums can receive a larger tax credit. Advance payment of the premium tax credit will be made by the Department of the Treasury directly to the insurance company for those with little cash. The credit is refundable for those with little tax liability. Example: http://www.treasury.gov/press-center/press-releases/Pages/tg1587.aspx

Why are so few people in nursing homes?

If you listen to a sales person offer Long-term Care insurance you might get the impression that almost everyone will need an expensive nursing home at some point in their lives. If this were true, there would be millions of people in nursing homes by now. Actually, out of 40 million American seniors alive today, approximately 1.5 million currently live in nursing homes, about 3.7%. Most people will never spend more than a few months there. Most policies have a 90 waiting period—a deductible—so most people won’t receive any benefits. Two-thirds of those going into nursing homes leave before 90 days are up. Few people end up in nursing homes because most people don’t want to end up there. Family takes care and they usually pass away in a hospital. After all, medical science can keep us alive there. Consider all the alternatives before buying: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Retirement isn’t all that is planned

37% of workers say they will retire before age 65, yet more than 80% of current retirees did so before age 66. Half of retirees leave work earlier than planned because of health, layoff or care of elder, according to EBRI. 70-80% of workers say they will work part time in retirement but only 27% of current retirees actually do. This means that life happens!

Be prepared. Creating a Wealth Reserve can keep your lifestyle in shape:

http://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285/

Investors move money to low-cost leader

One of every three dollars invested in mutual funds and exchange-traded funds through the first four months of the year went to Vanguard, according to Morningstar Inc. Investors are learning that highly paid advisors taking 1% from smaller gaines can really destroy their earning power. Earning 5% and giving up 20% to someone for bad management makes no sense. Just as Facebook skids down 14% from its opening price, investors are getting tired of the hype. Members feel vindicated with http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137/

Poverty is the future for more Americans—the gulf widens

Growing numbers of older Americans are spending their retirement years in poverty, according to a recent study. Poverty rates for people ages 65 to 74 climbed from 7.9 percent in 2005 to 9.4 percent in 2009, according to the EBRI analysis of University of Michigan health and retirement study data. For older retirees ages 75 to 84, there was an even steeper increase, from 7.6 percent to 10.7 percent over the same time period. But it's the oldest retirees who are the most likely to live in poverty: 14.6 percent did so in 2009.

 One of the biggest drivers of poverty in old age is failing health and the associated medical costs. Many people also spend down their retirement savings too quickly, especially during recessions. There is an incredible amount of geographic diversity in poverty rates, ranging from over 25 percent in Opelousas-Eunice, La., and Gallup, N.M., to less than 2 percent in Pocatello, Idaho, Helena, Mont., and Ames, Iowa. The Urban Institute expects retirement income inequality to increase dramatically over time. Members plan their spending: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Americans don’t want insurers to deny payments for emergencies—Dah!

Seventy percent of Americans oppose efforts by insurance companies to deny payment for emergency visits when patients believe they are having medical emergencies, but after examination are diagnosed with non-urgent medical conditions, according to the results of a new poll conducted by Harris Interactive on behalf of the American College of Emergency Physicians (ACEP). In addition, 85 percent of respondents with regular medical providers who sought emergency care said they could not have waited to see their regular providers.

The Supremes will decide about our care next month—5 old guys will decide for us!

WI gun totters overwhelm state licensing and insurers

WI has issued over 100,000 Concealed Carry Licenses so far and is receiving 200-400 license applications each day. Since the new law only gives OK to kill in home, car and office, insurers are not covering legal or civil actions out in the streets. Gun owners claiming self-defense may still have huge legal fees and a homeowners/umbrella will not cover the costs or judgment. Gunfights at the OK coral will require separate cover.

GOP have lost their minds?

Arizona's secretary of state asks to see proof of birth in order to put the president on November's ballot. AZ did not ask for Romney’s cert even though he says he grew up in Mexico. McCain was born in Panama but no one asked for his. If you are born to Americans anywhere, you are a citizen.

Difference: Obama is black and McCain and Romney are white.  http://www.vanityfair.com/online/daily/2012/03/Mitt-Romney-Was-Born-in-Mexico-Say-Birthers-Who-Are-Bad-at-Math

http://abcnews.go.com/blogs/politics/2012/01/how-mitt-romneys-mexican-born-father-was-eligible-to-be-president/

http://articles.latimes.com/2012/mar/22/local/la-me-birthers-bowen-20120322

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

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

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