Is your health provider right for you?
qualitycheck.org/
provides review of health services in your area. Quality rating gives you some
idea of how your provider is servicing customers. This check should be part of
your research on where to get the best care. Members use our Guide to buying health insurance to compare services and benefits. amazon.com/Insiders-Guides-Discount-Financial-Services/dp
How long ago did you have a FREE health checkup?
One of the benefits of exploring life insurance is that the insurer pays for
comprehensive health testing. Blood and urine are tested for a broad range of
issues. Even if you don’t buy insurance, the tests will tell you if there is a
problem. In 1991, NBA All-Star Earvin "Magic" Johnson was diagnosed
with HIV after a routine life insurance examination. Dr. Joan Schaefer, chief
medical officer of Nebraska's Health and Human Services System, learned she was in the early stages of a rare developmental liver disease called congenital hepatic fibrosis due to the lab
results of a simple life insurance medical exam. At the time of the discovery,
she had otherwise believed she was healthy and was in the middle of training
for a marathon. "An examiner may find an abnormal reading on an
electrocardiogram or their blood pressure is extremely high or low and they
realize something has happened and encourage the person to contact a medical
professional saving the applicant from a significant episode or serious medical
condition. This may not be publicly recognized, but it is a reality and it does
uncover significant illnesses that do save peoples lives." In most states,
you can obtain a copy of the results FREE. http://www.lifequotes.com/articles/lifeinsurance/how-a-life-insurance-examination-can-save-your-life/
Have you been cheated by a business?
The Federal Trade Commission, the nation's consumer protection agency, collects complaints about companies, business practices, identity theft, and episodes of violence in the media. FTC is supposed to resolve complaints using the form at www.ftccomplaintassistant.gov
FCC adopted changes to its telemarketing rules that:
-- Require telemarketers to obtain prior written consent before placing robo-calls to consumers,
-- Eliminate the exemption for companies that have an "established business relationship" with consumers,
-- Require telemarketers to provide an automated, interactive opt-out mechanism during each robocall so consumers can immediately tell the telemarketer to stop calling and
-- Strictly limit the number of so-called dead-air calls in which consumers answer phones and hear nothing.
If you want to complain, first step is register your number
on the DO NOT CALL list https://www.donotcall.gov/register/reg.aspx.
Second, complain if you know the caller’s number or name. https://www.ftccomplaintassistant.gov/
Unfortunately, Congress has not banned its own calls so turn off your phone in November.
I give them my warning: “You are being contacted by my attorney because I have not authorized you to call me on this recorded line. The fine is $16,000 per call. Please stay on the line for two minutes so he can trace this call to your home. Have nice day.”
Do you know where your tax refund is?
Check your fed and state refund. http://www.efile.com/tax-refund/where-is-my-refund/
Some states have data online. You need to know when you efiled or mailed them. Some states are set up to receive your state return like your fed from the efile company you used. Some do not have a database yet. If you are having both refunds directly deposited, you can check your bank online or by phone. It takes 1 to 3 weeks depending on when you filed. IRS only runs the refund program on Tuesdays: Efile by 2/22 then your bank will have it Wednesday 2/29. It takes a couple of days to mail it so you will see it when the PO delivers. Members try to limit the refund since there is no point in giving Congress more money than we have to. They will just give it to some ‘worthy’ cause like swine waste management in North Carolina. http://endingspending.com/fixing-the-budget/earmarks/map-2011/#state:NC
Is a Stand-Alone Living Benefits (SALB) account right for you?
This product offers a guaranteed stream of income without purchasing a traditional annuity. The
product acts like an insurance policy on an investment account, with income benefits kicking in if the account is depleted during the insured’s lifetime. You give cash to an investment account connected to an insurer and thus is eligible for coverage by SALB. The SALB provide a 4 percent to 8 percent lifetime income guarantee, calculated over the Retirement Income Base–essentially the account value–in place when the SALB are purchased. Fees associated with SALB range
from .75% to 2%, in addition to advisory fees of the underlying account. This puts SALB in the 3-4% range just like annuities. It is offered only by insurance companies so it really is an variable annuity but not in name. Annuities have a bad rep so they just changed the name. Members use cheaper alternatives: Do Not Buy That Annuity: Create a Guaranteed Income plus Build your Wealth Reserve https://www.createspace.com/3716857
Do you have all your tax documents?
IRS thinks everyone should have all their forms by Feb but many employers and security firms are late sending them. There is no fine so …. Before you do your taxes, either yourself or with someone, check last year’s return to see if you have what you had last year. You can also use the checklist at major prep firms: http://www.jacksonhewitt.com/Do-your-Taxes-In-Office/What-to-Bring/
http://www.hrblock.com/taxes/tax_tips/tax_planning/tax_checklist.html
If you want to pay for it, don’t forget to bring a coupon!
Each accepts the others:
http://www.jacksonhewitt.com/index-in-office-savings.aspx
http://www.retailmenot.com/view/hrblock.com
http://aiprx.libertytax.com/?teng=go&geng=taxprepcoupon&aeng=a9&keng=coupons%20tax%20preparation&meng=b
Are mini-med plans for you?
Consumer Reports found the mini-med plans offer little coverage. They are the only affordable
policies out there. You will be out of luck should you become seriously ill under mini-med plans, which are also offered to the unemployed via television and Internet ads.
Judith Goss, 48, of Macomb, Mich., said the Cigna plan she gets through her job at the Talbots retail chain was "some type of insurance that would cover something." "I was
aware that it wasn't a great plan, but I wasn't concerned because I wasn't sick," Goss told Consumer Reports. When she was diagnosed with breast cancer in July 2011 she
found her policy's annual limits of $1,000 a year for out-patient treatment and $2,000 for hospitalization would not come close to paying the $30,000 hospital bill she was told to expect. She delayed treatment. "It was 3 centimeters when they found it and 9 centimeters when they took it out," Goss said. In 2014 the low-wage workers will be able to obtain comprehensive subsidized healthcare coverage on their own or qualify for Medicaid, Consumer Reports said.
Are you using your gut or your head for financial decisions?
Personal Finance for Smarties Not Dummies: Use your brains not your guts for financial decisions
Make sure your taking all the discounts you can for your
insurance, 401k, banking, and all your needs. 204 pages provide savings of
$3,000 a year or more. amazon.com/Personal-Finance-Smarties-Not-Dummies/dp/
Obama wants to lower corporate tax rate to 28% -- Surprise, GOP not pleased!
Obama would pay for the reduction by eliminating "dozens" of special tax breaks. There are currently more than 130 on the books. Republicans want to lower the corporate rate even further to 25% AND keep the breaks for big corporations like GE and Facebook, which got refunds from us. Most of the largest corporations end up with effective tax rates far below 35%. Indeed, in many cases, they may pay far less than 25%. Most pay ZERO! The administration said a 28% U.S.
corporate tax rate would be in line with the average rate among other advanced economies. Obama would like to discourage companies from moving their assets abroad and parking their profits there for years on end. Global corporations that pay tax to other countries rely on US military if their assets are attacked, employees kidnapped, need protection from terrorists, etc, etc. However, they don't pay for those services. WORSE: GE, Facebook others get refunds from us. http://money.cnn.com/2011/01/14/news/economy/corporate_tax_reform/index.htm?source=yahoo_hosted
SCAMS
Which tax plan do you prefer?
If elected, here are the candidates’ plans: http://finance.yahoo.com/news/election-2012-candidates-tax-plans-;assuming they can get Congress to go along. On second thought, forget these changes. !??!#^&
Congress gives itself fat pension checks – cuts military support
Members of Congress will get more lucrative pensions than new federal employees under a little-known provision in the bill that extends payroll tax relief and unemployment insurance. Congress hides better pension in a tax cut that can’t fail to pass. And everyone else gets to pay for it. They have no shame. Why would they want to let their voters know?
Keystone pipeline another political wedge issue? Canada wants to raise prices eventually.
1/3 of its oil would be exported from US. It creates only 20 jobs and lowers price 3 cents only.
http://www.businessweek.com/top-news/the-questionable-economics-of-the-keystone-xl-pipeline-02172012.html
Why are we paying the legal bills and bonuses of execs that sunk Freddie/Fannie?
Tax payers are paying lawyers to fight legal action against the same guys who helped kill mortgage business. Execs from Countrywide and Washington Mutual got off with fines
– amounts less than their last paychecks. We did not even HAVE to pay the legal
bills since the execs drove the firms into the ground. http://www.foxbusiness.com/industries/2012/02/23/taxpayers-foot-legal-bills-for-fannie-and-freddie-execs/
What is wrong with this picture?
IAN
41 Watchung Plaza, B242
Montclair,
NJ 07042
973.746.2014
www.InsuranceAdvisorsNetwork.com
Friday, February 24, 2012
Friday, February 17, 2012
$1,000 tax refund becomes $50,000 for retirement
Use your tax refund to give yourself $150,000 in retirement
Lee filed her taxes on $20,000 income and used the $1,000 IRA deduction to receive a $572 refund from the feds and $528 from the state. He put the $1,000 in his Vanguard account which has averaged 11% since inception. Lee expects this $1000 to grow to $50,000 in 35 years.
The average refund is $3,000. It can provide $150,000 in retirement from just that $3,000. Members who have done that every year since working may end up with $2 million at age 65. Fred and Susan tell you how: amazon.com/Fred-Susans-000-Wealth-ReserveTM/
Is ID theft monitoring right for you?
Credit bureaus claim they’ll protect you for $60 to $180 a year. However, there's no protection against theft of your Social Security number, according to Consumer Reports. The bureaus don’t receive the ID theft data with your SS immediately. Bureaus keep new data in "temporary fragmented files" when creditors file account information does not match your info even with your SS. They have no way to know your file’s 2nd address is not your new one or a thief’s using your SSN fraudulently. When creditors begin relabeling the ID thief's fraudulent accounts in your name and address, none of the credit-monitoring products you can buy would catch it. You are stuck spending your money and time trying to correct your files at the bureaus and the creditors. Good luck trying to get them to fix their mistake too. It took me two years—even though I had their protect service. http://www.consumerreports.org/cro/money/credit-loan/costly-credit-monitoring-services-offer-limited-fraud-protection-4-07/overview/0704_costly-credit-monitoring-services-offer-limited-fraud-protection_ov.htm
Beware of tax blunders
IRS says these schemes peak during filing season as people prepare their tax returns.
1.Theft of your Social to claim your refund. www.IRS.gov/identitytheft.
2.IRS does not send emails: it is a thief. Report to phishing@irs.gov.
3.Preparer steals refund or fee gauge. See Tips for Choosing a Tax Preparer.
4.IRS is pursuing hidden money: Offshore Voluntary Disclosure Program (OVDP).
5.Promoters promise free money from IRS or Social Security.
6.False/inflated expenses, undeclared income.
7.False Form 1099.
8.False tax obligation arguments
9.False corrected W-2 claiming fewer wages.
10.Inflated charity deductions.
11.Obscure corporate identities.
12.Hide assets in trust.
If you are doing your own taxes and need a question answered fast, try http://www.allexperts.com/ep/932-9736/Tax-Law-Questions/John-Stancil-CPA.htm
It worked for me.
If you need more help—like failure to file—these organizations are paid to represent you for free or small fee: http://www.irs.gov/pub/newsroom/organizations_receiving_litc_grants_for_the_2012_cycle.pdf
At what age should you buy life insurance?
The reason to buy life insurance is to protect those who rely on you. When you have a family that is counting on your paycheck to live and reach the goals you have for them, you want to fulfill those promises. If your family has two wage earners, you need to consider what happens when one of you is not around. Obviously, the time to buy is determined by your family’s specific needs. Some people don’t need it. Members use our Guide to determine what type, where, and how much to buy. Most people can protect their family with low-cost term--$1 a day. amazon.com/Insiders-Guides-Discount-Financial-Services/dp
Is Guaranteed Whole Life $10,000 policy right for you?
Yes, you can buy $10,000 life coverage even if you have cancer, a heart condition, or other chronic disease. At $89 a month for a 70 year old male and $69 for a female, is this a bargain? Sure, if you are certain you have a limited time; this might be right for you. However, if you are not “scheduled” to leave soon, you have more options. $89 a month is a lot of money to pay out for the rest of your life. By age 85, your expected lifespan, you will have paid $16,000. Invested in a balanced mutual fund earning 10%, you might have $37,000 or more. Left to your heirs, this mutual fund would be tax-FREE just like life insurance due to the stepped-up tax provision. Check our Guide for options: amazon.com/Create-Your-Tax-FREE-Financial-System/dp
Long-term care insurance: Is it right for you? Are there better alternatives?
Long-term care insurance is expensive
Insurers keep raising rates
Almost a third of owners have to stop paying!
Most of us will never need it
There are better alternatives
Do NOT buy a LTCi policy before you compare alternatives
Unbiased information about your options and alternatives to spending $150,000 on this coverage you may not need. amazon.com/Long-term-Care-Insurance-better-alternatives/
When should you drop comprehensive and collision coverage?
Insurance companies only pay for the depreciated value (dealer’s auction price) on your vehicle when totaled. You might be paying for coverage that you will never get to use. Collision insurance pays for any repairs from an accident up to the fair market value of your car less your deductible. Use www.KBB.com to get the fair market and true market value of any car.
Comprehensive covers other repairs like vandalism. Bottom line: you are not going to get enough from the coverages to buy a replacement of the same used car. If you paid $10,000 for a used car 3 years ago, you have to deduct the wear and tear and usage. On average, you may receive less than $5,000 if the car is totaled. Meanwhile, you have been paying $200+ a year premiums with a $1,000 deductible. You will be reimbursed for repairs to your car up to about $3,000 in the next 2 years. After a car is 10 years old, insurers will pay you little. This is why you see many dented cars on the roads—it just is not worth fixing.
Insurer uses your driving record to quote homeowners coverage
Allstate has started considering the driving records and automobile insurance claims histories of people in Oklahoma and Kansas who apply for a new homeowner’s product that it plans to roll out to other states through 2014. "There is a strong correlation between auto-loss history and the likelihood of covered homeowners losses," an official said. State Farm doesn't use driving records or auto claims records to determine homeowner's pricing or eligibility, a State Farm spokeswoman said. Social media also presents opportunities for insurers. Members shop every two years to make sure they have the best deal for both separately: amazon.com/Insiders-Guides-Discount-Financial-Services/dp
Obama budget cuts subsides to big agricultural corps
Obama to cut $32 billions in supports including support for the federal crop insurance program. At the same time, ag research and food safety are being increased.
We taxpayers were buying agra business insurance for them!???? Can you believe it?
http://southeastfarmpress.com/soybeans/asa-now-not-time-reduce-crop-insurance-support
Is your ride dependable? Or just expensive?
J.D. Power and Associates polled 31,000 owners of 2009 model-year vehicles and rated brands by the number of problems owners have experienced in the last 12 months. Problems can range from stalling engines and transmission issues to peeling paint and electronics glitches. Lexus owners reported 86 problems per 100 vehicles. Porsche, Cadillac, Toyota and Scion rounded out the top five. The worst performers were Chrysler, Dodge, Jeep, Ram and Jaguar. Chrysler owners reported 192 problems per 100 vehicles. http://blogs.cars.com/kickingtires/2012/02/jd-power-releases-2012-dependability-study.html
Is your credit report OK?
Check your credit report for mistakes before you need to. All 3 reports are FREE at www.annualcreditreport.com.
DO NOT use the one shown on TV with the band singing “Free credit report. Com”. It is NOT free. FreeCreditReport.com charges to “monitor” your credit but is actually owned by one of them: Experian. So if you pay for this service, you will only get one of the 3 reports:
http://www.ftc.gov/bcp/edu/microsites/freereports/index.shtml. This credit bureau also owns PriceGrabber.com® and LowerMyBills.com®. They collect your data from these sites so be careful if you use them.
SCAMS
We taxpayers are giving Facebook a $ HALF A BILLION refund! For what?
Facebook made $1 Billion in 2011 but will pay no federal or state income taxes this April, and is expected to get money back from the government on its 2009 and 2010 taxes to the tune of $500 million dollars. That comes out of your taxes.
Richest pay only 16% tax
The 400 best-off taxpayers paid an average tax rate of 16.6%, lower than in any year since the IRS began making the reports in 1992. Lower than most Americans. And there are two wars and two tax cuts.
To make the top 400, a taxpayer had to have income of more than $138.8 million
http://blogs.wsj.com/economics/2010/02/17/a-look-at-the-tax-returns-of-the-top-400-taxpayers/
Facebook is not alone
There accounting strategies firms can use to reduce their tax obligations, from moving assets overseas to structuring their business in a way that passes the tax burden directly on to investors. By using these and other techniques, 30 major U.S. firms — including General Electric, Wells Fargo, Boeing and Verizon — managed to avoid paying a dime in income tax in 2008, 2009 and 2010, according to a report last fall from CTJ.
Romney’s overseas bank?
The Justice Department is calling Switzerland's largest private bank a fugitive from justice after it didn't show up for a court hearing in New York. Wegelin & Co. is charged with conspiring with American clients to hide $1.2 billion from the Internal Revenue Service. The bank was indicted on Feb. 2. Since then, U.S. officials haven't found a way to move the case forward. http://www.schweizer-banken.info/en/bank/zh/zurich/wegelin.htm
How the 1% hides the money is documented in this article—no wonder America is out of money! It is standard procedure for most global firms and their employees/owners.
http://www.lifehealthpro.com/2012/02/14/how-tos-of-offshore-accounts-first-get-a-million?ref=hp
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
www.InsuranceAdvisorsNetwork.com
Lee filed her taxes on $20,000 income and used the $1,000 IRA deduction to receive a $572 refund from the feds and $528 from the state. He put the $1,000 in his Vanguard account which has averaged 11% since inception. Lee expects this $1000 to grow to $50,000 in 35 years.
The average refund is $3,000. It can provide $150,000 in retirement from just that $3,000. Members who have done that every year since working may end up with $2 million at age 65. Fred and Susan tell you how: amazon.com/Fred-Susans-000-Wealth-ReserveTM/
Is ID theft monitoring right for you?
Credit bureaus claim they’ll protect you for $60 to $180 a year. However, there's no protection against theft of your Social Security number, according to Consumer Reports. The bureaus don’t receive the ID theft data with your SS immediately. Bureaus keep new data in "temporary fragmented files" when creditors file account information does not match your info even with your SS. They have no way to know your file’s 2nd address is not your new one or a thief’s using your SSN fraudulently. When creditors begin relabeling the ID thief's fraudulent accounts in your name and address, none of the credit-monitoring products you can buy would catch it. You are stuck spending your money and time trying to correct your files at the bureaus and the creditors. Good luck trying to get them to fix their mistake too. It took me two years—even though I had their protect service. http://www.consumerreports.org/cro/money/credit-loan/costly-credit-monitoring-services-offer-limited-fraud-protection-4-07/overview/0704_costly-credit-monitoring-services-offer-limited-fraud-protection_ov.htm
Beware of tax blunders
IRS says these schemes peak during filing season as people prepare their tax returns.
1.Theft of your Social to claim your refund. www.IRS.gov/identitytheft.
2.IRS does not send emails: it is a thief. Report to phishing@irs.gov.
3.Preparer steals refund or fee gauge. See Tips for Choosing a Tax Preparer.
4.IRS is pursuing hidden money: Offshore Voluntary Disclosure Program (OVDP).
5.Promoters promise free money from IRS or Social Security.
6.False/inflated expenses, undeclared income.
7.False Form 1099.
8.False tax obligation arguments
9.False corrected W-2 claiming fewer wages.
10.Inflated charity deductions.
11.Obscure corporate identities.
12.Hide assets in trust.
If you are doing your own taxes and need a question answered fast, try http://www.allexperts.com/ep/932-9736/Tax-Law-Questions/John-Stancil-CPA.htm
It worked for me.
If you need more help—like failure to file—these organizations are paid to represent you for free or small fee: http://www.irs.gov/pub/newsroom/organizations_receiving_litc_grants_for_the_2012_cycle.pdf
At what age should you buy life insurance?
The reason to buy life insurance is to protect those who rely on you. When you have a family that is counting on your paycheck to live and reach the goals you have for them, you want to fulfill those promises. If your family has two wage earners, you need to consider what happens when one of you is not around. Obviously, the time to buy is determined by your family’s specific needs. Some people don’t need it. Members use our Guide to determine what type, where, and how much to buy. Most people can protect their family with low-cost term--$1 a day. amazon.com/Insiders-Guides-Discount-Financial-Services/dp
Is Guaranteed Whole Life $10,000 policy right for you?
Yes, you can buy $10,000 life coverage even if you have cancer, a heart condition, or other chronic disease. At $89 a month for a 70 year old male and $69 for a female, is this a bargain? Sure, if you are certain you have a limited time; this might be right for you. However, if you are not “scheduled” to leave soon, you have more options. $89 a month is a lot of money to pay out for the rest of your life. By age 85, your expected lifespan, you will have paid $16,000. Invested in a balanced mutual fund earning 10%, you might have $37,000 or more. Left to your heirs, this mutual fund would be tax-FREE just like life insurance due to the stepped-up tax provision. Check our Guide for options: amazon.com/Create-Your-Tax-FREE-Financial-System/dp
Long-term care insurance: Is it right for you? Are there better alternatives?
Long-term care insurance is expensive
Insurers keep raising rates
Almost a third of owners have to stop paying!
Most of us will never need it
There are better alternatives
Do NOT buy a LTCi policy before you compare alternatives
Unbiased information about your options and alternatives to spending $150,000 on this coverage you may not need. amazon.com/Long-term-Care-Insurance-better-alternatives/
When should you drop comprehensive and collision coverage?
Insurance companies only pay for the depreciated value (dealer’s auction price) on your vehicle when totaled. You might be paying for coverage that you will never get to use. Collision insurance pays for any repairs from an accident up to the fair market value of your car less your deductible. Use www.KBB.com to get the fair market and true market value of any car.
Comprehensive covers other repairs like vandalism. Bottom line: you are not going to get enough from the coverages to buy a replacement of the same used car. If you paid $10,000 for a used car 3 years ago, you have to deduct the wear and tear and usage. On average, you may receive less than $5,000 if the car is totaled. Meanwhile, you have been paying $200+ a year premiums with a $1,000 deductible. You will be reimbursed for repairs to your car up to about $3,000 in the next 2 years. After a car is 10 years old, insurers will pay you little. This is why you see many dented cars on the roads—it just is not worth fixing.
Insurer uses your driving record to quote homeowners coverage
Allstate has started considering the driving records and automobile insurance claims histories of people in Oklahoma and Kansas who apply for a new homeowner’s product that it plans to roll out to other states through 2014. "There is a strong correlation between auto-loss history and the likelihood of covered homeowners losses," an official said. State Farm doesn't use driving records or auto claims records to determine homeowner's pricing or eligibility, a State Farm spokeswoman said. Social media also presents opportunities for insurers. Members shop every two years to make sure they have the best deal for both separately: amazon.com/Insiders-Guides-Discount-Financial-Services/dp
Obama budget cuts subsides to big agricultural corps
Obama to cut $32 billions in supports including support for the federal crop insurance program. At the same time, ag research and food safety are being increased.
We taxpayers were buying agra business insurance for them!???? Can you believe it?
http://southeastfarmpress.com/soybeans/asa-now-not-time-reduce-crop-insurance-support
Is your ride dependable? Or just expensive?
J.D. Power and Associates polled 31,000 owners of 2009 model-year vehicles and rated brands by the number of problems owners have experienced in the last 12 months. Problems can range from stalling engines and transmission issues to peeling paint and electronics glitches. Lexus owners reported 86 problems per 100 vehicles. Porsche, Cadillac, Toyota and Scion rounded out the top five. The worst performers were Chrysler, Dodge, Jeep, Ram and Jaguar. Chrysler owners reported 192 problems per 100 vehicles. http://blogs.cars.com/kickingtires/2012/02/jd-power-releases-2012-dependability-study.html
Is your credit report OK?
Check your credit report for mistakes before you need to. All 3 reports are FREE at www.annualcreditreport.com.
DO NOT use the one shown on TV with the band singing “Free credit report. Com”. It is NOT free. FreeCreditReport.com charges to “monitor” your credit but is actually owned by one of them: Experian. So if you pay for this service, you will only get one of the 3 reports:
http://www.ftc.gov/bcp/edu/microsites/freereports/index.shtml. This credit bureau also owns PriceGrabber.com® and LowerMyBills.com®. They collect your data from these sites so be careful if you use them.
SCAMS
We taxpayers are giving Facebook a $ HALF A BILLION refund! For what?
Facebook made $1 Billion in 2011 but will pay no federal or state income taxes this April, and is expected to get money back from the government on its 2009 and 2010 taxes to the tune of $500 million dollars. That comes out of your taxes.
Richest pay only 16% tax
The 400 best-off taxpayers paid an average tax rate of 16.6%, lower than in any year since the IRS began making the reports in 1992. Lower than most Americans. And there are two wars and two tax cuts.
To make the top 400, a taxpayer had to have income of more than $138.8 million
http://blogs.wsj.com/economics/2010/02/17/a-look-at-the-tax-returns-of-the-top-400-taxpayers/
Facebook is not alone
There accounting strategies firms can use to reduce their tax obligations, from moving assets overseas to structuring their business in a way that passes the tax burden directly on to investors. By using these and other techniques, 30 major U.S. firms — including General Electric, Wells Fargo, Boeing and Verizon — managed to avoid paying a dime in income tax in 2008, 2009 and 2010, according to a report last fall from CTJ.
Romney’s overseas bank?
The Justice Department is calling Switzerland's largest private bank a fugitive from justice after it didn't show up for a court hearing in New York. Wegelin & Co. is charged with conspiring with American clients to hide $1.2 billion from the Internal Revenue Service. The bank was indicted on Feb. 2. Since then, U.S. officials haven't found a way to move the case forward. http://www.schweizer-banken.info/en/bank/zh/zurich/wegelin.htm
How the 1% hides the money is documented in this article—no wonder America is out of money! It is standard procedure for most global firms and their employees/owners.
http://www.lifehealthpro.com/2012/02/14/how-tos-of-offshore-accounts-first-get-a-million?ref=hp
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
www.InsuranceAdvisorsNetwork.com
Friday, February 10, 2012
Take Social Security benefits before GOP cuts?
Is it smart to wait for Social Security benefits?
Now that the GOP is talking about cutting our future benefits, we have to reconsider when to start getting our money back. There are many situations—married, divorced, divorced 10 years, spouse passed away, younger takes benefits while older works, the reverse, playing the odds of living to 100, taxable benefits and 2nd job, supplement early benefits with spouse benefit while working, etc, etc. We need to know our options as soon as age 62. Read the info http://www.mymoney.gov/category/topic1/planning-retirement/-retiring.html and http://www.bankrate.com/finance/retirement/7-social-security-benefits.aspx?ic_id=nwsltr_wkrdup_20120203
House agrees to stop illegal insider trading—sort of.
60 minutes caught House leader Pelosi without answers on her ‘illegal’ trades. http://www.cbsnews.com/video/watch/?id=7388205n
House’s Cantor exempts those who sell “intelligence” to Wall Street. Allows “corruption” to continue, according to GOP Grassley.
http://articles.businessinsider.com/2011-11-14/politics/30396448_1_stock-market-market-moving-information-trades
Questions for your HR 401k Plan administrators/investment guides.
Forbes just outlined the types of questions to ask about your 401k so that you can make decisions about your best investment choices. Unbiased advisors say that cost is the best predictor of mutual fund returns. Why is there no Vanguard index option?
http://www.forbes.com/sites/feeonlyplanner/2012/02/02/do-you-know-whos-on-the-hook-for-decisions-made-in-your-401k/?partner=yahootix
Auto insurance instantly
Progressive announced today an application for the iPhone that is designed to radically change the auto insurance buyer’s experience. Positioned for the direct-to-consumer space, Progressive’s mobile app uses image capture technology designed to provide an accurate auto insurance rate that is customized to the user, and upon acceptance, to actually bind (guarantee immediate) coverage. “We can’t get a shortcut around the information we need, and we need lots of pieces of data, so keying in that data can be challenging at best. What’s unique about a mobile device is that it’s faster and more convenient—so we are taking the next step.” Progressive will be the first company to use image capture in this manner, Lehman says. “This is real time in front of the customer.”
Retirement income guarantee but at a cost
Uncle Sam wants to expand the transparency of 401(k) fees and broaden the availability of retirement plan payout options to encourage the use of annuities to provide lifetime income. Uncle Sam is giving a windfall to the financial services industry by making annuities available in our employer’s retirement plans. It will be easier to buy an annuity with our 401k money when we leave our job. Many people just cash out their 401k and the government is worried we won’t have a nestegg for later. Most annuities sold today are very expensive so sellers will make a fortune on the $11 Trillions in pension plans. Memebers have a better way and save 1-2% on the commissions too. http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
CA Medical Debt Keeps Rising, New Report Shows
In 2009, 2.6 million non-elderly Californians had some kind of medical debt -- an increase of 400,000 since 2007, the new "State of Health Insurance in California" report shows. Among enrollees in Medi-Cal, the program that is intended to provide comprehensive care for low-income residents, 18.2 percent had medical debt, a level comparable to the uninsured (18.4 percent). "This suggests that the program may not be providing everything its enrollees need, either because certain services are not included in coverage or there are increasingly fewer doctors that accept Medi-Cal patients," said Lavarreda.
Another long-term care insurer quits—raises rates for existing policies
Unum is getting out of the group long-term care insurance (LTCI) and preparing to increase the premiums it charges for in-force group LTCI coverage. "We intend to aggressively manage the long-term care business," Thomas Watjen, president of Unum, Chattanooga, Tenn., said today. "This will include continuing our practice of seeking rate increases on the in-force business where warranted and also exploring opportunities for capital management." Members consider alternatives like using their Wealth Reserve if needed. amazon.com/Create-Financial-Freedom-Wealth-Reserve/
Media spotlights how insurer evades paying claims--again
TV station highlights struggle of a patient’s family and regulators to battle for long-term care insurance coverage after buying a policy, the head of the NAIC health committee has vowed stronger regulation for those LTC insurers that deny coverage even when it deemed valid. The case involves a company making no benefit payments after claim for over $165,000 in care for a Miriam Mills, a 93-year-old nursing home patient with memory lapses. Mills' case was meant to expose the alleged problems with Bankers Life and Casualty (Conseco), which serves seniors. “Despite numerous faxes, telephone calls, letters, a flood of paid nursing home statements, care plans forms and even a formal complaint filed with the Missouri Insurance Commissioner, no benefits have been paid,” a Mills relative stated. Insurers don’t like paying claims. See The Rainmaker: http://en.wikipedia.org/wiki/The_Rainmaker_(1997_film)
The End
Eastman Kodak Co, the photography icon that invented the hand-held camera and helped bring the world the first pictures from the moon, is exiting the camera business.
GOP claim high taxes hurt job formation is disproved by Romney’s own work
Romney’s business profits for investors is evidence that fair tax rates don't hold back profit-seeking capitalists. From 1984 until 1999, the top rates on capital gains -- the profit from investments as opposed to compensation for work -- were often at 28 percent, and never lower than 20 percent. Indeed, in 1987, under President Ronald Reagan, the 20 percent rate rose to 28 percent -- a 40 percent increase in potential taxation of Bain investment profit. (Yes, Reagan did raise taxes, even on capital.)
Capitalists invest when there are profits to be made. Jobs are created when the workers earn enough to buy the stuff they produce.
Henry Ford had it right: Paying high wages," he concluded, "is behind the prosperity of this country."
SCAMS
Will anyone go to jail for mortgage mess?
New Mortgage Suits Against BofA, JPMorgan, Wells Fargo Plus Goldman
A federal judge certified a class-action lawsuit being led by a pension fund for Mississippi’s public sector employees that invested in the securities. A class action suit may draw in more plaintiffs who would otherwise not have the resources to take on Goldman in court. The case in question concerns a $698 million offering that was backed by New Century loans.
How could Romney have an IRA worth $20 - $100 million as per WSJ
The IRA max was $2000 in 80’s, now $5000. Rollover IRA from 401k max $30,000 a year. Romney was not making cash contributions to his IRA. Was he parking equity shares of his companies’ investment funds there, or quite possibly putting shares of private companies that his firm bought into his 401(k). If this happened, we need to know at what valuation Romney made these contributions. It is very easy to claim a low stated value for shares of private companies or investment funds that have no market price. If Romney purposely understated the true value of the shares he contributed to his retirement plan he could be held criminally liable. He used offshore accounts for this perhaps.
Romney will face earned income tax when he takes out the IRA money. IRA money is not taxed at capital gains rates. ... unless he can arange a special deal with the IRS. He might have a chance if he becomes Pres, unlike us tax payers. Maybe this is why he is running for President. The ultimate capitalist pays only 13%. Everyone else pays more.
Wall Street offers CD with 24% return—sort of, if you a lucky, maybe, perhaps, etc, etc.
Regulators are examining sales of certificates of deposit tied to derivatives after banks sold a record number of the investments last year. The industry-backed regulator wants to make sure the so-called structured CDs, where principal is protected by the Federal Deposit Insurance Corp., are properly understood by investors given their increasing complexity and lengthening maturities, said Maria Rabinovich, a lawyer in Finra’s risk division.
The watchdog issued an alert on “complex products” in January, outlining a few examples of misunderstandins, such as those where information is not readily available about the assets they’re tied to, and so-called“steepeners,” which typically bet on the shape of the Treasury yield curve. Goldman Sachs offered a four-year CD linked to the monthly returns of the Dow Jones Industrial average in December that returns as much as 24 percent a year. The Dow would have to gain at least 2 percent each month over the CD’s life for the maximum payout, according to an offering statement. Investors are guaranteed an annual yield of 0.5 percent, an amount less than the average 0.77 percent rate paid by one-year certificates of deposits.
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Now that the GOP is talking about cutting our future benefits, we have to reconsider when to start getting our money back. There are many situations—married, divorced, divorced 10 years, spouse passed away, younger takes benefits while older works, the reverse, playing the odds of living to 100, taxable benefits and 2nd job, supplement early benefits with spouse benefit while working, etc, etc. We need to know our options as soon as age 62. Read the info http://www.mymoney.gov/category/topic1/planning-retirement/-retiring.html and http://www.bankrate.com/finance/retirement/7-social-security-benefits.aspx?ic_id=nwsltr_wkrdup_20120203
House agrees to stop illegal insider trading—sort of.
60 minutes caught House leader Pelosi without answers on her ‘illegal’ trades. http://www.cbsnews.com/video/watch/?id=7388205n
House’s Cantor exempts those who sell “intelligence” to Wall Street. Allows “corruption” to continue, according to GOP Grassley.
http://articles.businessinsider.com/2011-11-14/politics/30396448_1_stock-market-market-moving-information-trades
Questions for your HR 401k Plan administrators/investment guides.
Forbes just outlined the types of questions to ask about your 401k so that you can make decisions about your best investment choices. Unbiased advisors say that cost is the best predictor of mutual fund returns. Why is there no Vanguard index option?
http://www.forbes.com/sites/feeonlyplanner/2012/02/02/do-you-know-whos-on-the-hook-for-decisions-made-in-your-401k/?partner=yahootix
Auto insurance instantly
Progressive announced today an application for the iPhone that is designed to radically change the auto insurance buyer’s experience. Positioned for the direct-to-consumer space, Progressive’s mobile app uses image capture technology designed to provide an accurate auto insurance rate that is customized to the user, and upon acceptance, to actually bind (guarantee immediate) coverage. “We can’t get a shortcut around the information we need, and we need lots of pieces of data, so keying in that data can be challenging at best. What’s unique about a mobile device is that it’s faster and more convenient—so we are taking the next step.” Progressive will be the first company to use image capture in this manner, Lehman says. “This is real time in front of the customer.”
Retirement income guarantee but at a cost
Uncle Sam wants to expand the transparency of 401(k) fees and broaden the availability of retirement plan payout options to encourage the use of annuities to provide lifetime income. Uncle Sam is giving a windfall to the financial services industry by making annuities available in our employer’s retirement plans. It will be easier to buy an annuity with our 401k money when we leave our job. Many people just cash out their 401k and the government is worried we won’t have a nestegg for later. Most annuities sold today are very expensive so sellers will make a fortune on the $11 Trillions in pension plans. Memebers have a better way and save 1-2% on the commissions too. http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
CA Medical Debt Keeps Rising, New Report Shows
In 2009, 2.6 million non-elderly Californians had some kind of medical debt -- an increase of 400,000 since 2007, the new "State of Health Insurance in California" report shows. Among enrollees in Medi-Cal, the program that is intended to provide comprehensive care for low-income residents, 18.2 percent had medical debt, a level comparable to the uninsured (18.4 percent). "This suggests that the program may not be providing everything its enrollees need, either because certain services are not included in coverage or there are increasingly fewer doctors that accept Medi-Cal patients," said Lavarreda.
Another long-term care insurer quits—raises rates for existing policies
Unum is getting out of the group long-term care insurance (LTCI) and preparing to increase the premiums it charges for in-force group LTCI coverage. "We intend to aggressively manage the long-term care business," Thomas Watjen, president of Unum, Chattanooga, Tenn., said today. "This will include continuing our practice of seeking rate increases on the in-force business where warranted and also exploring opportunities for capital management." Members consider alternatives like using their Wealth Reserve if needed. amazon.com/Create-Financial-Freedom-Wealth-Reserve/
Media spotlights how insurer evades paying claims--again
TV station highlights struggle of a patient’s family and regulators to battle for long-term care insurance coverage after buying a policy, the head of the NAIC health committee has vowed stronger regulation for those LTC insurers that deny coverage even when it deemed valid. The case involves a company making no benefit payments after claim for over $165,000 in care for a Miriam Mills, a 93-year-old nursing home patient with memory lapses. Mills' case was meant to expose the alleged problems with Bankers Life and Casualty (Conseco), which serves seniors. “Despite numerous faxes, telephone calls, letters, a flood of paid nursing home statements, care plans forms and even a formal complaint filed with the Missouri Insurance Commissioner, no benefits have been paid,” a Mills relative stated. Insurers don’t like paying claims. See The Rainmaker: http://en.wikipedia.org/wiki/The_Rainmaker_(1997_film)
The End
Eastman Kodak Co, the photography icon that invented the hand-held camera and helped bring the world the first pictures from the moon, is exiting the camera business.
GOP claim high taxes hurt job formation is disproved by Romney’s own work
Romney’s business profits for investors is evidence that fair tax rates don't hold back profit-seeking capitalists. From 1984 until 1999, the top rates on capital gains -- the profit from investments as opposed to compensation for work -- were often at 28 percent, and never lower than 20 percent. Indeed, in 1987, under President Ronald Reagan, the 20 percent rate rose to 28 percent -- a 40 percent increase in potential taxation of Bain investment profit. (Yes, Reagan did raise taxes, even on capital.)
Capitalists invest when there are profits to be made. Jobs are created when the workers earn enough to buy the stuff they produce.
Henry Ford had it right: Paying high wages," he concluded, "is behind the prosperity of this country."
SCAMS
Will anyone go to jail for mortgage mess?
New Mortgage Suits Against BofA, JPMorgan, Wells Fargo Plus Goldman
A federal judge certified a class-action lawsuit being led by a pension fund for Mississippi’s public sector employees that invested in the securities. A class action suit may draw in more plaintiffs who would otherwise not have the resources to take on Goldman in court. The case in question concerns a $698 million offering that was backed by New Century loans.
How could Romney have an IRA worth $20 - $100 million as per WSJ
The IRA max was $2000 in 80’s, now $5000. Rollover IRA from 401k max $30,000 a year. Romney was not making cash contributions to his IRA. Was he parking equity shares of his companies’ investment funds there, or quite possibly putting shares of private companies that his firm bought into his 401(k). If this happened, we need to know at what valuation Romney made these contributions. It is very easy to claim a low stated value for shares of private companies or investment funds that have no market price. If Romney purposely understated the true value of the shares he contributed to his retirement plan he could be held criminally liable. He used offshore accounts for this perhaps.
Romney will face earned income tax when he takes out the IRA money. IRA money is not taxed at capital gains rates. ... unless he can arange a special deal with the IRS. He might have a chance if he becomes Pres, unlike us tax payers. Maybe this is why he is running for President. The ultimate capitalist pays only 13%. Everyone else pays more.
Wall Street offers CD with 24% return—sort of, if you a lucky, maybe, perhaps, etc, etc.
Regulators are examining sales of certificates of deposit tied to derivatives after banks sold a record number of the investments last year. The industry-backed regulator wants to make sure the so-called structured CDs, where principal is protected by the Federal Deposit Insurance Corp., are properly understood by investors given their increasing complexity and lengthening maturities, said Maria Rabinovich, a lawyer in Finra’s risk division.
The watchdog issued an alert on “complex products” in January, outlining a few examples of misunderstandins, such as those where information is not readily available about the assets they’re tied to, and so-called“steepeners,” which typically bet on the shape of the Treasury yield curve. Goldman Sachs offered a four-year CD linked to the monthly returns of the Dow Jones Industrial average in December that returns as much as 24 percent a year. The Dow would have to gain at least 2 percent each month over the CD’s life for the maximum payout, according to an offering statement. Investors are guaranteed an annual yield of 0.5 percent, an amount less than the average 0.77 percent rate paid by one-year certificates of deposits.
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Friday, February 3, 2012
Free Tax Prep for you?
Is FREE Tax prep right for you?
Free help in preparing your return is available by IRS-trained volunteers. The program is for tax-payers age 60 or older with simple returns. To find the a center, see
AARP’s website at www.aarp.org/taxaide or call 1-888-227-7669.
Don’t forget to ask for your credits: Child care, education, retirement savings, child tax, and residential energy. Your deductions: educator, IRA, student loan, tuition/fees, self-employed health, moving, health savings, etc. The volunteers file electronically and can direct deposit refunds within 14 days. Find out more online: “get help” tool at www.irs.gov/freefile.
Auto insurance discount
Esurance, the direct-to-consumer Allstate company, is offering Pac-12 students and alumni living in Arizona, Colorado, Oregon, and Utah a car insurance discount of up to 15 percent. Find 12 additional discounts with our Guide: amazon.com/Insiders-Guides-Discount-Financial-Services/
Texting while driving costs
Online auto insurance quotes provider 4autoinsurancequote.org released a study which reveals that insurance rates are rising due to the increase in texting while driving. nearly 10 percent of the driving population in the United States text and drive on a regular basis. According to the CDC, drivers who fall between the ages of 18 to 29 admit to texting while behind the wheel at least once per month, while a full 25 percent of those in that age group state that they habitually text and drive.
Homeowners to see hikes in 11 states—time to shop?
Some insurance companies will make hikes of 18% or more on specific homeowners insurance lines in 11 states, which include Tennessee; South Dakota; Kentucky; Arizona; Virginia; Maine; Colorado; South Carolina; Alabama; Kansas; and Georgia, according to Best's State Rate Filings since Dec. 1. Check on your insurer: http://ratefilings.ambest.com/default.asp
Katrina victims MAY see claims paid after 7 years
Attorneys took aim at bank accounts of Louisiana's property insurer of last resort Monday and began seizing more than $100 million they won for homeowners who claimed the company dragged its heels in adjusting hurricane claims in 2005. The money includes a $92.8 million judgment for more than 18,500 Louisiana Citizens Property Insurance Corp. policyholders _ plus $11 million in judicial interest. Each plaintiff stands to receive $5,000. Citizens failed to begin adjusting their claims after hurricanes Katrina and Rita within 30 days as required by law. Citizens provides property coverage to homeowners and businesses unable to obtain insurance from private companies.
Is SallieMae Insurance right for you?
The student loan company now offers accident, renters, and short-term medical insurance to students underwritten by insurers like Assurant. This means you are paying an extra bonus to SallieMae in your premium. Accident insurance pays your tuition if you have to withdraw—very low occurrence. Renters cover may not be the best bargain for students since the coverage is given without credit checks and with payment plans. It also includes Involuntary Unemployment which is unlikely for most students who are not employed. The small print assures insurers that they are unlikely to have to pay many claims so this coverage is high profit. Most students are better off buying coverage under their parents’ homeowner if they have money to burn.
Insurers overpaid by Medicare
Insurers offering Medicare health plans were overpaid by the U.S. as much as $3.1 billion in 2010 because the government miscalculated how sick beneficiaries were, federal auditors said. The managed-care plans remain overpaid, said the Government Accountability Office, Congress’ investigatory arm, in a report. Insurers received from $1.2 billion to $3.1 billion more than they should have in 2010 because the government overestimated how sick their customers were, a process called risk adjustment. Medicare calculates the risk of covering Advantage customers each month by considering their age, gender and any major medical conditions and disabilities. The plans get bigger payments for people with higher scores. Enrollment in Advantage plans was about 11 million people in 2010.
No Sweat Investing: Let your money work for YOU!
Presented by Lawson Steeple MBA 25 year veteran
Market swings are huge-3 of the top 12 in history in 2011
Interest rates are low-some of the lowest rates in history
Financial products are more complicated-riskier than ever
Advisors are not able to stabilize gains-no one can predict markets
https://www.createspace.com/3779288
SCAMS
Obama’s mortgage probe—too little too late?
The worst criminals have already settled with fines paid by stockholders/insurers and slaps on the wrists. No one has gone to jail or had to give up their spoils of the plunder of the mortgage market. Executives have learned that the benefits outweigh the penalties—$2.9 million benefit with $542,000 given back in one case. Would you Do it again if you were them? http://www.nytimes.com/2012/01/29/business/mortgage-task-force-has-fancy-name-but-will-it-get-tough.html
12 people decide GOP election—Supremes convert US to oligarchy paid by wealthy
A quarter of the money amassed by Romney’s campaign and an allied super PAC has come from just 41 people, each of whom has given more than $100,000, according to a Washington Post analysis of disclosure data. Nearly a dozen of the donors have contributed $1 million or more. Some of Romney’s biggest supporters include executives at Bain Capital, his former firm; bankers at Goldman Sachs; and a hedge fund mogul who made billions betting on the housing crash. These and other donor details follow the release last week of Romney’s tax returns, which showed millions held in the Cayman Islands and other overseas havens and a tax rate that is far lower than that paid by most American workers. Since Citizens United decision by Supremes that "money is speech," most Americans can’t afford to have their vote count. A dozen anonymous contributors (foreign governments?) have made GOP candidate. Who pays for Obama's election?
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Free help in preparing your return is available by IRS-trained volunteers. The program is for tax-payers age 60 or older with simple returns. To find the a center, see
AARP’s website at www.aarp.org/taxaide or call 1-888-227-7669.
Don’t forget to ask for your credits: Child care, education, retirement savings, child tax, and residential energy. Your deductions: educator, IRA, student loan, tuition/fees, self-employed health, moving, health savings, etc. The volunteers file electronically and can direct deposit refunds within 14 days. Find out more online: “get help” tool at www.irs.gov/freefile.
Auto insurance discount
Esurance, the direct-to-consumer Allstate company, is offering Pac-12 students and alumni living in Arizona, Colorado, Oregon, and Utah a car insurance discount of up to 15 percent. Find 12 additional discounts with our Guide: amazon.com/Insiders-Guides-Discount-Financial-Services/
Texting while driving costs
Online auto insurance quotes provider 4autoinsurancequote.org released a study which reveals that insurance rates are rising due to the increase in texting while driving. nearly 10 percent of the driving population in the United States text and drive on a regular basis. According to the CDC, drivers who fall between the ages of 18 to 29 admit to texting while behind the wheel at least once per month, while a full 25 percent of those in that age group state that they habitually text and drive.
Homeowners to see hikes in 11 states—time to shop?
Some insurance companies will make hikes of 18% or more on specific homeowners insurance lines in 11 states, which include Tennessee; South Dakota; Kentucky; Arizona; Virginia; Maine; Colorado; South Carolina; Alabama; Kansas; and Georgia, according to Best's State Rate Filings since Dec. 1. Check on your insurer: http://ratefilings.ambest.com/default.asp
Katrina victims MAY see claims paid after 7 years
Attorneys took aim at bank accounts of Louisiana's property insurer of last resort Monday and began seizing more than $100 million they won for homeowners who claimed the company dragged its heels in adjusting hurricane claims in 2005. The money includes a $92.8 million judgment for more than 18,500 Louisiana Citizens Property Insurance Corp. policyholders _ plus $11 million in judicial interest. Each plaintiff stands to receive $5,000. Citizens failed to begin adjusting their claims after hurricanes Katrina and Rita within 30 days as required by law. Citizens provides property coverage to homeowners and businesses unable to obtain insurance from private companies.
Is SallieMae Insurance right for you?
The student loan company now offers accident, renters, and short-term medical insurance to students underwritten by insurers like Assurant. This means you are paying an extra bonus to SallieMae in your premium. Accident insurance pays your tuition if you have to withdraw—very low occurrence. Renters cover may not be the best bargain for students since the coverage is given without credit checks and with payment plans. It also includes Involuntary Unemployment which is unlikely for most students who are not employed. The small print assures insurers that they are unlikely to have to pay many claims so this coverage is high profit. Most students are better off buying coverage under their parents’ homeowner if they have money to burn.
Insurers overpaid by Medicare
Insurers offering Medicare health plans were overpaid by the U.S. as much as $3.1 billion in 2010 because the government miscalculated how sick beneficiaries were, federal auditors said. The managed-care plans remain overpaid, said the Government Accountability Office, Congress’ investigatory arm, in a report. Insurers received from $1.2 billion to $3.1 billion more than they should have in 2010 because the government overestimated how sick their customers were, a process called risk adjustment. Medicare calculates the risk of covering Advantage customers each month by considering their age, gender and any major medical conditions and disabilities. The plans get bigger payments for people with higher scores. Enrollment in Advantage plans was about 11 million people in 2010.
No Sweat Investing: Let your money work for YOU!
Presented by Lawson Steeple MBA 25 year veteran
Market swings are huge-3 of the top 12 in history in 2011
Interest rates are low-some of the lowest rates in history
Financial products are more complicated-riskier than ever
Advisors are not able to stabilize gains-no one can predict markets
https://www.createspace.com/3779288
SCAMS
Obama’s mortgage probe—too little too late?
The worst criminals have already settled with fines paid by stockholders/insurers and slaps on the wrists. No one has gone to jail or had to give up their spoils of the plunder of the mortgage market. Executives have learned that the benefits outweigh the penalties—$2.9 million benefit with $542,000 given back in one case. Would you Do it again if you were them? http://www.nytimes.com/2012/01/29/business/mortgage-task-force-has-fancy-name-but-will-it-get-tough.html
12 people decide GOP election—Supremes convert US to oligarchy paid by wealthy
A quarter of the money amassed by Romney’s campaign and an allied super PAC has come from just 41 people, each of whom has given more than $100,000, according to a Washington Post analysis of disclosure data. Nearly a dozen of the donors have contributed $1 million or more. Some of Romney’s biggest supporters include executives at Bain Capital, his former firm; bankers at Goldman Sachs; and a hedge fund mogul who made billions betting on the housing crash. These and other donor details follow the release last week of Romney’s tax returns, which showed millions held in the Cayman Islands and other overseas havens and a tax rate that is far lower than that paid by most American workers. Since Citizens United decision by Supremes that "money is speech," most Americans can’t afford to have their vote count. A dozen anonymous contributors (foreign governments?) have made GOP candidate. Who pays for Obama's election?
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Friday, January 27, 2012
"No Sweat Investing" is here
Introducing Law Steeple author of "No Sweat Investing"
Law has been one of our Insiders who helped create the Insider’s Guides to Financial Services. He has put together his experience with clients investing in No Sweat Investing: amazon.com/No-Sweat-Investing-your-money
Managed mutual funds can’t justify the high fees anymore
Index mutual funds took in a record $76 billion last year, and exchange-traded funds, which are predominantly passive, scored another $121 billion. Actively managed funds, meanwhile, lost about $9.4 billion, according to Morningstar Inc. The outflows create “hidden” costs, such as tax consequences from forced selling or extra transaction costs. You may be paying for the shift from managed to index funds during this period of low market returns. If your advisor made $0 or lost money, you still had to pay for their salary and bonus plus the taxes created when they sold assets to reimburse clients who left. Members have decided to seek Wealth Without Wall Street. amazon.com/Wealth-Without-Wall-Street-Commissions/
Half of American households receive some government benefits
Some 48.6% of the population lived in a household receiving some type of government benefit in the second quarter of 2010, up a notch from 48.5% in the first quarter, according to Census data. In the second quarter, 34.4% lived in a household benefiting from food stamps, subsidized housing or Medicaid, among others.
This does not include House members like Bachmann’s farm subsidy and six Democrats and 17 Republicans who receive over $6 million in addition to salary and expenses. http://www.ewg.org/agmag/2011/03/farm-subsidies-paid-to-the-members-of-the-112th-congress/
This does not include Congresspeople who receive other direct subsidies (oil, gas, etc).
This does not include corporations like GE that received tax benefits of $3.2 Billions.
This does not include 66% of US corporations that pay NO tax at all. http://www.forbes.com/sites/timworstall/2011/08/16/two-thirds-of-us-corporations-dont-pay-federal-income-tax-true-but-horribly-misleading/
America’s tax system is complicated and slanted.
Obama’s State of Union gets voter’s OK
Polls show that even GOP voters favor Obama proposals. http://www.whitehouse.gov/photos-and-video/video/2012/01/25/2012-state-union-address-enhanced-version#transcript
Women short changing themselves on retirement
Only 8% of female workers believe that they’re building a large enough retirement fund for themselves, according to the Transamerica Center for Retirement Studies. Yet women live longer and thus need income for more years. Women who invest are more confident in meeting future needs. Members use our Guide to plan future: amazon.com/Leahs-Money-Book-control-money/
Romney as 1 percenter pays only 13.9%—Newt at 32%
Romney’s 2010 return shows he received $22 million—much of it is so-called carried interest, which is taxed at the preferential rate of 15% and is reported as a capital gain.
Carried interest is compensation paid to general partners at private equity firms -- such as Bain Capital, which Romney left in 1999. Venture capitalists like Romney put up a little capital and use OPM (other people’s money) to buy a company, reorganize and sell it, taking 20% of the sale price. Partners usually defer as much of their compensation as possible. They invest the rest offshore so they can control taxes. Romney gives over 10% of his income to charity so his tax rate may be less than 14%. Some analysts say his returns have been reworked since he has been running for Pres since 2004. Warren Buffett said, “He makes his money the same way I make my money.” “He makes money by moving around big bucks, not by straining his back or going to work and cleaning toilets or whatever it may be. He makes it shoving around money.”
By contrast, Newt earned $3.1 million in 2010 and paid an effective federal tax rate of about 32 percent, returns released by the candidate on Jan. 19 show. Newt sells books and steers Congress about companies he “advises.” Romney pays tax of $3 mil on $250 million in assets—about 1.2%. Most people pay over 5% of their assets in tax. Median US income is $33,048. The 2011 tax table says this person would pay 15%, just like Romney. Taxing global assets, not earned income, might be the fairest way to tax.
Romney gives lady money after she says God told her to follow Romney bus
And pray for him. SC treasury official pays her light bill.
"God didn't tell me to go to nobody else, He told me to pray for Romney," said Williams, when asked why she has decided to support Romney. "I listened to the Lord."
IRS on smartphones ????
The IRS offers multiple avenues for you to get tax information. If you have a smartphone, we have an app! If you like to watch videos from your phone or computer, we have dozens of helpful YouTube videos…and, of course, follow us on Twitter.
Check out how the IRS delivers the latest tax information, initiatives, products and services through social media.
1. IRS2Go The IRS recently launched a smartphone application that allows you interact with the IRS using your mobile device. Our app can help you get your refund status and tax updates. IRS2Go is available for the iPhone or iTouch and the Android.
2. YouTube The IRS offers short, informative videos on an assortment of tax-related topics through our YouTube Video channel. The videos are offered in English, American Sign Language and a variety of foreign languages.
3. Twitter IRS tweets include tax-related announcements, news for tax professionals and updates for job seekers. Follow us @IRSnews.
4. Audio files for podcasts These short audio recordings provide useful information on one tax-related topic per podcast. They are available on iTunes or through the MultimediaCenter on IRS.gov.
Tax filing FREE if income (AGI) under $57,000 and $10 if over $57,000
The internet has provided the means to efile taxes to IRS and state government for $10 or free. Using IRS list, pick a provider or search the web for software that has no income limit and files the state return too for $10. Using last year’s return most people can figure out what goes where and beat the cost of an accountant. Some of the storefront vendors charge over $50 for a simple return. Avoid online vendors who charge more than this since you are doing the work not them. Members know how to save on expenses so doing taxes can be learned too.
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Law has been one of our Insiders who helped create the Insider’s Guides to Financial Services. He has put together his experience with clients investing in No Sweat Investing: amazon.com/No-Sweat-Investing-your-money
Managed mutual funds can’t justify the high fees anymore
Index mutual funds took in a record $76 billion last year, and exchange-traded funds, which are predominantly passive, scored another $121 billion. Actively managed funds, meanwhile, lost about $9.4 billion, according to Morningstar Inc. The outflows create “hidden” costs, such as tax consequences from forced selling or extra transaction costs. You may be paying for the shift from managed to index funds during this period of low market returns. If your advisor made $0 or lost money, you still had to pay for their salary and bonus plus the taxes created when they sold assets to reimburse clients who left. Members have decided to seek Wealth Without Wall Street. amazon.com/Wealth-Without-Wall-Street-Commissions/
Half of American households receive some government benefits
Some 48.6% of the population lived in a household receiving some type of government benefit in the second quarter of 2010, up a notch from 48.5% in the first quarter, according to Census data. In the second quarter, 34.4% lived in a household benefiting from food stamps, subsidized housing or Medicaid, among others.
This does not include House members like Bachmann’s farm subsidy and six Democrats and 17 Republicans who receive over $6 million in addition to salary and expenses. http://www.ewg.org/agmag/2011/03/farm-subsidies-paid-to-the-members-of-the-112th-congress/
This does not include Congresspeople who receive other direct subsidies (oil, gas, etc).
This does not include corporations like GE that received tax benefits of $3.2 Billions.
This does not include 66% of US corporations that pay NO tax at all. http://www.forbes.com/sites/timworstall/2011/08/16/two-thirds-of-us-corporations-dont-pay-federal-income-tax-true-but-horribly-misleading/
America’s tax system is complicated and slanted.
Obama’s State of Union gets voter’s OK
Polls show that even GOP voters favor Obama proposals. http://www.whitehouse.gov/photos-and-video/video/2012/01/25/2012-state-union-address-enhanced-version#transcript
Women short changing themselves on retirement
Only 8% of female workers believe that they’re building a large enough retirement fund for themselves, according to the Transamerica Center for Retirement Studies. Yet women live longer and thus need income for more years. Women who invest are more confident in meeting future needs. Members use our Guide to plan future: amazon.com/Leahs-Money-Book-control-money/
Romney as 1 percenter pays only 13.9%—Newt at 32%
Romney’s 2010 return shows he received $22 million—much of it is so-called carried interest, which is taxed at the preferential rate of 15% and is reported as a capital gain.
Carried interest is compensation paid to general partners at private equity firms -- such as Bain Capital, which Romney left in 1999. Venture capitalists like Romney put up a little capital and use OPM (other people’s money) to buy a company, reorganize and sell it, taking 20% of the sale price. Partners usually defer as much of their compensation as possible. They invest the rest offshore so they can control taxes. Romney gives over 10% of his income to charity so his tax rate may be less than 14%. Some analysts say his returns have been reworked since he has been running for Pres since 2004. Warren Buffett said, “He makes his money the same way I make my money.” “He makes money by moving around big bucks, not by straining his back or going to work and cleaning toilets or whatever it may be. He makes it shoving around money.”
By contrast, Newt earned $3.1 million in 2010 and paid an effective federal tax rate of about 32 percent, returns released by the candidate on Jan. 19 show. Newt sells books and steers Congress about companies he “advises.” Romney pays tax of $3 mil on $250 million in assets—about 1.2%. Most people pay over 5% of their assets in tax. Median US income is $33,048. The 2011 tax table says this person would pay 15%, just like Romney. Taxing global assets, not earned income, might be the fairest way to tax.
Romney gives lady money after she says God told her to follow Romney bus
And pray for him. SC treasury official pays her light bill.
"God didn't tell me to go to nobody else, He told me to pray for Romney," said Williams, when asked why she has decided to support Romney. "I listened to the Lord."
IRS on smartphones ????
The IRS offers multiple avenues for you to get tax information. If you have a smartphone, we have an app! If you like to watch videos from your phone or computer, we have dozens of helpful YouTube videos…and, of course, follow us on Twitter.
Check out how the IRS delivers the latest tax information, initiatives, products and services through social media.
1. IRS2Go The IRS recently launched a smartphone application that allows you interact with the IRS using your mobile device. Our app can help you get your refund status and tax updates. IRS2Go is available for the iPhone or iTouch and the Android.
2. YouTube The IRS offers short, informative videos on an assortment of tax-related topics through our YouTube Video channel. The videos are offered in English, American Sign Language and a variety of foreign languages.
3. Twitter IRS tweets include tax-related announcements, news for tax professionals and updates for job seekers. Follow us @IRSnews.
4. Audio files for podcasts These short audio recordings provide useful information on one tax-related topic per podcast. They are available on iTunes or through the MultimediaCenter on IRS.gov.
Tax filing FREE if income (AGI) under $57,000 and $10 if over $57,000
The internet has provided the means to efile taxes to IRS and state government for $10 or free. Using IRS list, pick a provider or search the web for software that has no income limit and files the state return too for $10. Using last year’s return most people can figure out what goes where and beat the cost of an accountant. Some of the storefront vendors charge over $50 for a simple return. Avoid online vendors who charge more than this since you are doing the work not them. Members know how to save on expenses so doing taxes can be learned too.
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Friday, January 20, 2012
Are we losing our democracy?
Are we losing our democracy?
When wealthy contributors can give $ millions to candidates thru PACs and blanket electorates with TV ads non-stop, is it possible to buy an election? Could a foreign government via a puppet give $ billions to a PAC to sway voters to someone favorable to them? The Supreme Court decided thatcorporations are people (?) and their money is free speech. So, is America different than other governments that allow one group to slant the elections? http://www.youtube.com/watch?v=SprsUaX5j78
And why didn’t they count all the votes in 2000 like the Constitution says in Article II Section 1? It is the House not the Supremes that is supposed to make the decision. The founders knew Justices are political appointees not elected representatives. http://www.archives.gov/exhibits/charters/constitution_transcript.html
Romney seems to be the perfect corporate ruler. He bets $10,000 on things we would wager a $1 on. He does not earn a living. He pays a tax rate based on investment income, not earned income. Never got a paycheck. http://www.investmentnews.com/article/20120118/FREE/120119921/-1/INDaily01&dailycount=3&issuedate=20120118’
Newt makes $ millions by influencing Congress by giving “advice” not lobbying, he says. http://www.washingtonpost.com/politics/the-influence-industry-gingrich-case-raises-question-what-is-a-lobbyist/2011/12/07/gIQAtW7ZdO_story.html
Santorum is the largest supporter of Big Government earmarks. http://www.nytimes.com/2012/01/16/us/politics/as-rick-santorum-secured-earmarks-2006-donations-flowed-in.html?pagewanted=all
Obama is out fundraising instead of governing. He is said to be on track to pass the record $750 million this year. http://www.foxnews.com/politics/2012/01/12/obama-fundraising-could-fuel-small-economy/
Many GOP-run states are enacting laws to make it harder for people to vote even though there is no known case of fraud being prosecuted. http://www.miamiherald.com/2012/01/16/2592500/holder-decries-states-efforts.html
MI has gone so far as to eliminate the local governments elected by the citizens of 5 towns. http://news.yahoo.com/marchers-protest-michigan-emergency-managers-governors-home-234600752.html
Is the new Suze Orman debit card right for you?
One critic called the talk show host's card “the cream of the crap,” noting the fee structure and features are comparable to the best prepaid debit cards already on the market. However, he and most other financial experts agree the category is a dog. “You are still paying at least $36 a yearto have access to your own money,” Mr. Ulzheimer said. “And you're doing nothing to help with your credit.” “It might be a conflict because people view her as potentially objective,” he said. Her $63 newsletter promises to tell you where to invest your retirement money. However, Ms Orman is no longer a registered advisor. Members remember her pitch for her $180 credit monitor service! WOW. Better alternatives in our Guide: : http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
How is your auto insurance company rated by customers?
Check at http://www.insure.com/best-car-insurance-companies/
New Year resolution—Stop leasing your cars
Leasing a vehicle for 36-39 months is waste of money. You could be investing that $10,000 -$12,000 to make sure you have enough later on. Buy a used car that still has good mileage and low maintenance. http://www.kbb.com/car-news/all-the-latest/10-best-used-cars-under-8000-1/
Allstate raises rates, again, in IL for homeowners
It's the second time in less than a year that Allstate has raised homeowners rates in Illinois. In July, the company said it was planning to increase rates 2.5% to 9%, effective July 11. But it also hiked the discounts it offers to policyholders up to 5% for taking on options such as paying the premium in full or paying online. Time to shop for new coverage: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
When is the best time to take Social Security benefits?
Many people are giving up 25% of their benefits by starting early at age 62. Is this smart?Find out why or why not. What are your options if you have to start early? http://www.aarp.org/work/social-security/social-security-benefits-calculator/
Managed funds see flow to index funds … again
Most popular funds from American and Fidelity lost customers last year. Many went to Vanguard as index funds with low expenses faired better during the market volatilityhttp://www.investmentnews.com/article/20120116/FREE/120119942/-1/INDaily01&dailycount=1&issuedate=20120116
Are you eligible for filing tax for FREE?
People with an adjusted gross income of $57,000 or less are eligible for at least one software product if not more. Each of the Free File software providers sets their own eligibility requirements, usually based on qualifiers such as income, state residency, age or military status. The easiest way to locate a software provider is to use the online “get help” tool at www.irs.gov/freefile. Before you start the Fed tax filing, check the cost of the state filing. Most sites charge for this and it is easy to complete your state filing from the numbers you already entered. Go back to the site the next day to confirm IRS acceptance of the return. Taxpayers can e-file their tax returns one of three ways starting 1/17/12: through a tax return preparer, through self-preparation software or through IRS Free File.
PA health insurance for less
Simply Blue PPO, a new individual insurance plan that offers simple health insurance coverage with a low premium, low deductible and predictable copayment structure. plan, offers preventive care benefits with 100 percent coverage, emergency room coverage and vision benefits. Premiums for Simply Blue are as low as $90 a month with a $500 deductible for males ages 25 to 29. Plan description: "Individuals can feel at ease knowing that they are covered for preventive services to keep them healthy and have the protection against the high cost of unexpected illness or injury." Members buy only what they need: : http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Is your car safe and repairable at reasonable cost?
Check your vehicle for relative cost of repairs and medical/injury ratings. The most expensive are not always the safest or cheapest to repair. Some are twice as safe as the averages but cost the same. Members save on their purchase by using the “tricks of the trade”: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
SCAMS
Brokerage caught screwing clients on purpose -- cost Citi $54 million
“… the product was defective, management inept, risk controls nonexistent and the effect was ruinous. If one drives their car into another, they are responsible; they have no option but to take responsibility for their actions,” One witness said. Citi tried to cover up the mess when clients complained about the losses.http://www.nytimes.com/2012/01/15/business/in-citigroup-case-a-risk-rating-investors-didnt-see-fair-game.html
Insurers, caught holding death benefits, face little penalty for fraud
Prudential Financial Inc. has settled with Massachusetts and 19 other states, agreeing to improve its practices in identifying beneficiaries who are due unclaimed life insurance death benefits. What kind of accountability is this?
Let me know what you think. Editor@TheInsidersGuides.com
IAN 41 Watchung Plaza, B242 Montclair, NJ 07042 347.746.2014www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
When wealthy contributors can give $ millions to candidates thru PACs and blanket electorates with TV ads non-stop, is it possible to buy an election? Could a foreign government via a puppet give $ billions to a PAC to sway voters to someone favorable to them? The Supreme Court decided thatcorporations are people (?) and their money is free speech. So, is America different than other governments that allow one group to slant the elections? http://www.youtube.com/watch?v=SprsUaX5j78
And why didn’t they count all the votes in 2000 like the Constitution says in Article II Section 1? It is the House not the Supremes that is supposed to make the decision. The founders knew Justices are political appointees not elected representatives. http://www.archives.gov/exhibits/charters/constitution_transcript.html
Romney seems to be the perfect corporate ruler. He bets $10,000 on things we would wager a $1 on. He does not earn a living. He pays a tax rate based on investment income, not earned income. Never got a paycheck. http://www.investmentnews.com/article/20120118/FREE/120119921/-1/INDaily01&dailycount=3&issuedate=20120118’
Newt makes $ millions by influencing Congress by giving “advice” not lobbying, he says. http://www.washingtonpost.com/politics/the-influence-industry-gingrich-case-raises-question-what-is-a-lobbyist/2011/12/07/gIQAtW7ZdO_story.html
Santorum is the largest supporter of Big Government earmarks. http://www.nytimes.com/2012/01/16/us/politics/as-rick-santorum-secured-earmarks-2006-donations-flowed-in.html?pagewanted=all
Obama is out fundraising instead of governing. He is said to be on track to pass the record $750 million this year. http://www.foxnews.com/politics/2012/01/12/obama-fundraising-could-fuel-small-economy/
Many GOP-run states are enacting laws to make it harder for people to vote even though there is no known case of fraud being prosecuted. http://www.miamiherald.com/2012/01/16/2592500/holder-decries-states-efforts.html
MI has gone so far as to eliminate the local governments elected by the citizens of 5 towns. http://news.yahoo.com/marchers-protest-michigan-emergency-managers-governors-home-234600752.html
Is the new Suze Orman debit card right for you?
One critic called the talk show host's card “the cream of the crap,” noting the fee structure and features are comparable to the best prepaid debit cards already on the market. However, he and most other financial experts agree the category is a dog. “You are still paying at least $36 a yearto have access to your own money,” Mr. Ulzheimer said. “And you're doing nothing to help with your credit.” “It might be a conflict because people view her as potentially objective,” he said. Her $63 newsletter promises to tell you where to invest your retirement money. However, Ms Orman is no longer a registered advisor. Members remember her pitch for her $180 credit monitor service! WOW. Better alternatives in our Guide: : http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
How is your auto insurance company rated by customers?
Check at http://www.insure.com/best-car-insurance-companies/
New Year resolution—Stop leasing your cars
Leasing a vehicle for 36-39 months is waste of money. You could be investing that $10,000 -$12,000 to make sure you have enough later on. Buy a used car that still has good mileage and low maintenance. http://www.kbb.com/car-news/all-the-latest/10-best-used-cars-under-8000-1/
Allstate raises rates, again, in IL for homeowners
It's the second time in less than a year that Allstate has raised homeowners rates in Illinois. In July, the company said it was planning to increase rates 2.5% to 9%, effective July 11. But it also hiked the discounts it offers to policyholders up to 5% for taking on options such as paying the premium in full or paying online. Time to shop for new coverage: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
When is the best time to take Social Security benefits?
Many people are giving up 25% of their benefits by starting early at age 62. Is this smart?Find out why or why not. What are your options if you have to start early? http://www.aarp.org/work/social-security/social-security-benefits-calculator/
Managed funds see flow to index funds … again
Most popular funds from American and Fidelity lost customers last year. Many went to Vanguard as index funds with low expenses faired better during the market volatilityhttp://www.investmentnews.com/article/20120116/FREE/120119942/-1/INDaily01&dailycount=1&issuedate=20120116
Are you eligible for filing tax for FREE?
People with an adjusted gross income of $57,000 or less are eligible for at least one software product if not more. Each of the Free File software providers sets their own eligibility requirements, usually based on qualifiers such as income, state residency, age or military status. The easiest way to locate a software provider is to use the online “get help” tool at www.irs.gov/freefile. Before you start the Fed tax filing, check the cost of the state filing. Most sites charge for this and it is easy to complete your state filing from the numbers you already entered. Go back to the site the next day to confirm IRS acceptance of the return. Taxpayers can e-file their tax returns one of three ways starting 1/17/12: through a tax return preparer, through self-preparation software or through IRS Free File.
PA health insurance for less
Simply Blue PPO, a new individual insurance plan that offers simple health insurance coverage with a low premium, low deductible and predictable copayment structure. plan, offers preventive care benefits with 100 percent coverage, emergency room coverage and vision benefits. Premiums for Simply Blue are as low as $90 a month with a $500 deductible for males ages 25 to 29. Plan description: "Individuals can feel at ease knowing that they are covered for preventive services to keep them healthy and have the protection against the high cost of unexpected illness or injury." Members buy only what they need: : http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Is your car safe and repairable at reasonable cost?
Check your vehicle for relative cost of repairs and medical/injury ratings. The most expensive are not always the safest or cheapest to repair. Some are twice as safe as the averages but cost the same. Members save on their purchase by using the “tricks of the trade”: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
SCAMS
Brokerage caught screwing clients on purpose -- cost Citi $54 million
“… the product was defective, management inept, risk controls nonexistent and the effect was ruinous. If one drives their car into another, they are responsible; they have no option but to take responsibility for their actions,” One witness said. Citi tried to cover up the mess when clients complained about the losses.http://www.nytimes.com/2012/01/15/business/in-citigroup-case-a-risk-rating-investors-didnt-see-fair-game.html
Insurers, caught holding death benefits, face little penalty for fraud
Prudential Financial Inc. has settled with Massachusetts and 19 other states, agreeing to improve its practices in identifying beneficiaries who are due unclaimed life insurance death benefits. What kind of accountability is this?
Let me know what you think. Editor@TheInsidersGuides.com
IAN 41 Watchung Plaza, B242 Montclair, NJ 07042 347.746.2014www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Friday, January 13, 2012
Larrysaved $774 on auto insurance
Larry spent one hour with twoalternative insurers to find a better rate than he had for two cars—a 2005 and1998. He found out he was paying for services he did not need, like PIP health
insurance. He has adequate health insurance and is covered by the policy if he
and family are injured in a wreck. He went through the charges with his current
carrier to see if he could drop some other items. His ‘98 car doesn’t need
comprehensive/collision. He raised his deductible too. His new carrier gave him
their alum discount. Find out what you could save using our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Maybethe health care mandate is not such a bad idea
Healthinsurance premiums for California families rose 153% since 2002, more than five times the29% increase in the rate of inflation, according to a new survey released
Wednesday. The CHCFsurvey found that annual premiums were higher in California than nationally forindividual coverage ($5,970 versus $5,429) and family coverage ($15,724 versus
$15,073). 35 states have some authority to approve or reject health insurance
rate increases, while California has none.
Health care mandate was a GOP idea but it is worth a try. http://www.foxnews.com/politics/2010/03/27/republicans-hatched-idea-obamas-health-insurance-mandate/
Some to see lower health care policypremiums drop
TheFeds have determined that Trustmark Life Insurance Co. proposed unreasonable
rate increases in five states _ Alabama, Arizona, Pennsylvania, Virginia, and Wyoming. Trustmark must withdraw hikes and explain why it wants
more. This is part of the new health care law to reduce costs.
Which discount broker was tops forConsumer Report?
Reader score: 93
Customer service: Top
Website usability: Good
USAA is the winner. Beat other brokers in the business. This is a company run
for our armed service members. They have excellent service and low fees. We
can’t buy their AUTO but we can use all the other financial services with
confidence.
Results from online survey of 7,327 ConsumerReports.org subscribers
reporting on their experiences between Oct. 2010 and Oct. 2011. The reader
score represents overall satisfaction with the firm and is not limited to the
factors listed.
Yourbroker may be forced to change its business model
Ifa strict definition of a fiduciary standard of conduct (NO product pushing)
becomes the fate for broker-dealers owned by U.S. life insurance companies, they could be forced tocompletely revamp their sales and distribution business model. The U.S.
Securities and Exchange Commission in January 2011 recommended the standard to
Congress. It would apply to broker-dealers and investment advisers when they
provide investment advice about securities to individual investors. GE just
sold its broker-dealer so it would be free of this rule. GE can now push its
products without running into trouble with the SEC. Bank America has now outlawed Merrill broker accounts of less than$250,000 so they can collect the annual fees not just commissions.
Howdid your advisor do in 2011?
Our clients’ portfolio did not lose valuelast year. Our clients use a low-cost provider so when the market is down theypay little in fees. Fees are the best indicator of performance according to
fund tracker Morningstar.
2011 Return Fund Long-term Return* Longevity
1.97% 500 Index 10.36% since 1976
-1.74% Energy 12.71% since1984
-3.73% Extended Market 9.96% since1987
11.45% Health 16.30% since1984
-13.68% International Growth 10.50% since1981
-1.84% PRIMECAP 12.79% since 1984
-2.80% Small Cap Index 10.26% since1960
9.63% Wellesley Income 10.16% since 1970
-4.00% Windsor 11.00% since 1958
2.70% Windsor II 10.18% since 1985
__________________________________________
0.00% Average 11.42%
*AverageAnnual Returns as of 12/31/11.
Seeamazon.com/Working-Millionaire-Tax-FREE-Self-insure-Self-fund/
IsAllstate’s satisfaction guarantee right for you?
Underthe program, eligible Allstate customers who aren't happy with service they
receive on a paid auto claim can write a complaint to the company within 180
days of the incident. If a policyholder complains, Allstate will credit the
customer's account an amount that's equivalent to a six-month premium on the
car involved in the claim, said Allstate spokesman Kevin Smith. The company
tested the program in 2011 in Indiana, Ohio, Michigan and Georgia on its standard auto policies, and Allstate saw a limitednumber of requests in those states, Smith said. As of Jan. 2, the company madethe program available in 31 states, with more states planned later in the year.
Allstate’scredit is not cash. This is not a big deal. You can complain anytime. Claims
are handled by local adjuster. Working with them is the best way to obtain
fairness. If you are paying too much, you don’t get a refund for all those
years you overpaid. Safe drivers shop for the best price not guarantee of what
might not happen. Accidents are infrequent. Use our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Weare more likely to need extra income later in life
U.S.life expectancy climbedto a new high in 2010 as fewer people died from heart disease and cancer, andhomicide was no longer among the 15 leading causes of death. Life expectancy
increased to about 78.7 years. Now is the time to plan to have enough for
longer income needs: amazon.com/Your-Retirement-Spending-Plan-enough
Romneyis the only person who could FIRE his health insurance company
Where has this manbeen living? The rest of us could NOT fire our insurer because we did not liketheir refusal to pay for our cancer treatment or whatever. We would then be out
looking for new coverage with a “pre-existing condition” which insurers loath.
Only Romney could afford to self-insure—pay for treatments out of his $250
million pocket. The rest of us would need a health law that guaranteed
coverage with pre-existing condition. That system was what Romney put in place
in Mass and what Obama has to defend against the GOP Supremes this year. We all
need that guarantee because we could not get health care in the present system.
No insurer would sell us a policy for any price. Just ask the 50 million
without coverage.
SCAMS
Why do we havea deficit and high unemployment? Taxes go to foreign governments!
Cutting taxes tocreate jobs is a political gimmick—it does not work.
Taxesof $385 billion went unpaid in 2006, according to new estimates by the IRS. IRS
says biggest cheats are small business and corporations who hide revenue and
add expense. For instance, Exxon employed 50 lobbyists, and spent $12,450,000
to influence lawmakers, according to the Center for Responsive Politics. What
does that buy you?
Little tax AND oil subsidies of $4B.
Exxon,which last year reported a record $45.2 billion profit, paid the most taxes of
any corporation, but noneof it went to the IRS: 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations inthe likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes lastyear, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings
permanently reinvested overseas.
Manycorporations send profits overseas so they don’t pay tax at all.
GEearned $14.2 billion in profits in 2010, but it paid not a penny in taxes
because the bulk of those profits, some $9 billion, were offshore. In fact, GE
got a $3.2 billion tax benefit. GE laidoff 21,000 American workers and closed 20 factories between 2007 and 2009.More than half of GE's workforce is now
outside the United States.
Why are people upset?
55%of US corps paid no tax some years: http://www.gao.gov/new.items/d08957.pdf
GOPdebate statements and the facts: http://news.yahoo.com/fact-checking-hampshire-debate-023952440--abc-news.html
Who owns your account NOW?
MorganKeegan to Raymond James
GenworthFinancial has agreed to sell its broker-dealer unit to Cetera Financial Group
GE want to be free to push its products. Ifa strict definition of a fiduciary standard of conduct becomes the fate forbroker-dealers owned by U.S. life insurance companies, they could be forced tocompletely revamp their sales and distribution business model. The U.S.
Securities and Exchange Commission in January 2011 recommended the standard to
Congress. It would apply to broker-dealers and investment advisers when they
provide investment advice about securities to individual investors.
Starry starry night
On average, each of the 100 billion or sostars in our galaxy hosts at least 1.6 planets, according to the study,bringing the number of likely alien worlds to more than 160 billion. "This is a major milestone on the road to finding Earth's twin,"Douglas Hudgins, Kepler program scientist at NASA headquarters in Washington,D.C., said in a statement.
Letme know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung
Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available
at http://dankeppel.blogspot.com/
Larry spent one hour with twoalternative insurers to find a better rate than he had for two cars—a 2005 and1998. He found out he was paying for services he did not need, like PIP health
insurance. He has adequate health insurance and is covered by the policy if he
and family are injured in a wreck. He went through the charges with his current
carrier to see if he could drop some other items. His ‘98 car doesn’t need
comprehensive/collision. He raised his deductible too. His new carrier gave him
their alum discount. Find out what you could save using our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Maybethe health care mandate is not such a bad idea
Healthinsurance premiums for California families rose 153% since 2002, more than five times the29% increase in the rate of inflation, according to a new survey released
Wednesday. The CHCFsurvey found that annual premiums were higher in California than nationally forindividual coverage ($5,970 versus $5,429) and family coverage ($15,724 versus
$15,073). 35 states have some authority to approve or reject health insurance
rate increases, while California has none.
Health care mandate was a GOP idea but it is worth a try. http://www.foxnews.com/politics/2010/03/27/republicans-hatched-idea-obamas-health-insurance-mandate/
Some to see lower health care policypremiums drop
TheFeds have determined that Trustmark Life Insurance Co. proposed unreasonable
rate increases in five states _ Alabama, Arizona, Pennsylvania, Virginia, and Wyoming. Trustmark must withdraw hikes and explain why it wants
more. This is part of the new health care law to reduce costs.
Which discount broker was tops forConsumer Report?
Reader score: 93
Customer service: Top
Website usability: Good
USAA is the winner. Beat other brokers in the business. This is a company run
for our armed service members. They have excellent service and low fees. We
can’t buy their AUTO but we can use all the other financial services with
confidence.
Results from online survey of 7,327 ConsumerReports.org subscribers
reporting on their experiences between Oct. 2010 and Oct. 2011. The reader
score represents overall satisfaction with the firm and is not limited to the
factors listed.
Yourbroker may be forced to change its business model
Ifa strict definition of a fiduciary standard of conduct (NO product pushing)
becomes the fate for broker-dealers owned by U.S. life insurance companies, they could be forced tocompletely revamp their sales and distribution business model. The U.S.
Securities and Exchange Commission in January 2011 recommended the standard to
Congress. It would apply to broker-dealers and investment advisers when they
provide investment advice about securities to individual investors. GE just
sold its broker-dealer so it would be free of this rule. GE can now push its
products without running into trouble with the SEC. Bank America has now outlawed Merrill broker accounts of less than$250,000 so they can collect the annual fees not just commissions.
Howdid your advisor do in 2011?
Our clients’ portfolio did not lose valuelast year. Our clients use a low-cost provider so when the market is down theypay little in fees. Fees are the best indicator of performance according to
fund tracker Morningstar.
2011 Return Fund Long-term Return* Longevity
1.97% 500 Index 10.36% since 1976
-1.74% Energy 12.71% since1984
-3.73% Extended Market 9.96% since1987
11.45% Health 16.30% since1984
-13.68% International Growth 10.50% since1981
-1.84% PRIMECAP 12.79% since 1984
-2.80% Small Cap Index 10.26% since1960
9.63% Wellesley Income 10.16% since 1970
-4.00% Windsor 11.00% since 1958
2.70% Windsor II 10.18% since 1985
__________________________________________
0.00% Average 11.42%
*AverageAnnual Returns as of 12/31/11.
Seeamazon.com/Working-Millionaire-Tax-FREE-Self-insure-Self-fund/
IsAllstate’s satisfaction guarantee right for you?
Underthe program, eligible Allstate customers who aren't happy with service they
receive on a paid auto claim can write a complaint to the company within 180
days of the incident. If a policyholder complains, Allstate will credit the
customer's account an amount that's equivalent to a six-month premium on the
car involved in the claim, said Allstate spokesman Kevin Smith. The company
tested the program in 2011 in Indiana, Ohio, Michigan and Georgia on its standard auto policies, and Allstate saw a limitednumber of requests in those states, Smith said. As of Jan. 2, the company madethe program available in 31 states, with more states planned later in the year.
Allstate’scredit is not cash. This is not a big deal. You can complain anytime. Claims
are handled by local adjuster. Working with them is the best way to obtain
fairness. If you are paying too much, you don’t get a refund for all those
years you overpaid. Safe drivers shop for the best price not guarantee of what
might not happen. Accidents are infrequent. Use our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Weare more likely to need extra income later in life
U.S.life expectancy climbedto a new high in 2010 as fewer people died from heart disease and cancer, andhomicide was no longer among the 15 leading causes of death. Life expectancy
increased to about 78.7 years. Now is the time to plan to have enough for
longer income needs: amazon.com/Your-Retirement-Spending-Plan-enough
Romneyis the only person who could FIRE his health insurance company
Where has this manbeen living? The rest of us could NOT fire our insurer because we did not liketheir refusal to pay for our cancer treatment or whatever. We would then be out
looking for new coverage with a “pre-existing condition” which insurers loath.
Only Romney could afford to self-insure—pay for treatments out of his $250
million pocket. The rest of us would need a health law that guaranteed
coverage with pre-existing condition. That system was what Romney put in place
in Mass and what Obama has to defend against the GOP Supremes this year. We all
need that guarantee because we could not get health care in the present system.
No insurer would sell us a policy for any price. Just ask the 50 million
without coverage.
SCAMS
Why do we havea deficit and high unemployment? Taxes go to foreign governments!
Cutting taxes tocreate jobs is a political gimmick—it does not work.
Taxesof $385 billion went unpaid in 2006, according to new estimates by the IRS. IRS
says biggest cheats are small business and corporations who hide revenue and
add expense. For instance, Exxon employed 50 lobbyists, and spent $12,450,000
to influence lawmakers, according to the Center for Responsive Politics. What
does that buy you?
Little tax AND oil subsidies of $4B.
Exxon,which last year reported a record $45.2 billion profit, paid the most taxes of
any corporation, but noneof it went to the IRS: 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations inthe likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes lastyear, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings
permanently reinvested overseas.
Manycorporations send profits overseas so they don’t pay tax at all.
GEearned $14.2 billion in profits in 2010, but it paid not a penny in taxes
because the bulk of those profits, some $9 billion, were offshore. In fact, GE
got a $3.2 billion tax benefit. GE laidoff 21,000 American workers and closed 20 factories between 2007 and 2009.More than half of GE's workforce is now
outside the United States.
Why are people upset?
55%of US corps paid no tax some years: http://www.gao.gov/new.items/d08957.pdf
GOPdebate statements and the facts: http://news.yahoo.com/fact-checking-hampshire-debate-023952440--abc-news.html
Who owns your account NOW?
MorganKeegan to Raymond James
GenworthFinancial has agreed to sell its broker-dealer unit to Cetera Financial Group
GE want to be free to push its products. Ifa strict definition of a fiduciary standard of conduct becomes the fate forbroker-dealers owned by U.S. life insurance companies, they could be forced tocompletely revamp their sales and distribution business model. The U.S.
Securities and Exchange Commission in January 2011 recommended the standard to
Congress. It would apply to broker-dealers and investment advisers when they
provide investment advice about securities to individual investors.
Starry starry night
On average, each of the 100 billion or sostars in our galaxy hosts at least 1.6 planets, according to the study,bringing the number of likely alien worlds to more than 160 billion. "This is a major milestone on the road to finding Earth's twin,"Douglas Hudgins, Kepler program scientist at NASA headquarters in Washington,D.C., said in a statement.
Letme know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung
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Montclair, NJ 07042
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www.InsuranceAdvisorsNetwork.com
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