Your Investment Edge: A Tax-FREE Growth and Income Account

In these times, you need an Edge to get ahead on investments. Tax-FREE accumulation provides an extra 25% to your investment total. If you earned 15.3% last year, you could have made the equivalent of 23.3%. You never pay taxes—no federal, state, capital gains or dividend taxes.  Start your EDGE today for free.

http://www.amazon.com/Your-Investment-Edge-Tax-FREE-Account/dp/1482695677

WhyWashingtonfeels free to cut our “entitlements”

Ever wonder how our “representatives” will survive in retirement after all the money they want to take away from hard working Americans. They don’t have to worry since they pay less and receive more than almost any American worker. Plus their health benefits are better than ours. Their retirement package is more than SS. Half of them are already millionaires—buying stocks of companies they know will go up because they passed bills making it so. They don't need to worry about benefit cuts. They have $ millions.

http://www.nbcnews.com/business/how-congress-members-retirement-package-compares-yours-1C8823621

Will your long-term care insurance premium go up again?

The cost of a typical U.S.individual long-term care insurance (LTCI) policy increased 20 percent between 2012 and 2013. It increased 16% in 2012. Insurers' LTCI rates vary widely, according to one observer. "For a 55-year-old single policy applicant, the highest-priced policy cost 87 percent more than the comparable lowest-priced policy." There are big variations in benefits also. The insurer may be out of business by the time you need it. Compare alternatives before you commit:  

http://www.amazon.com/Long-term-Care-Insurance-Updated-2013/dp/148274001X/

States profiting from your money

Some states are making money from your rightful assets. Even if you try to claim the assets, they may have been sold and are gone.  In one case, a person bought Apple stock in the 1980s from a broker. The broker must turn them over to the state after a certain time. The state sold the shares for pennies and kept the money. The $20,000 in stock is gone. There is no standard rule when brokers, bankers, other fiduciaries give up your money to the state. According to the SEC, most states declare stocks abandoned in 5 years. If you are a long-term investor, you are at risk unless you do something. Institutions have their own rules about abandonment. Check your stock’s location today. I got no answer when I asked the SEC what we could do about this.

http://money.cnn.com/2013/03/05/pf/unclaimed-money/index.html

CA turns down Blues increase

Insurance Commissioner Dave Jones announced that the 11.7 percent average rate increase imposed by Blue Shield of California Life and Health Insurance Company is unreasonable.

MN tax filers cautioned about TurboTax

Minnesota Department of Revenue has been advising taxpayers not to use Intuit products, including TurboTax, to file your Minnesota taxes in any form, electronically or on paper. According to the Department of Revenue, Intuit has discovered “multiple issues” with their products affecting 2012 Minnesota tax returns. These problems include errors with property tax refunds, education expenses and political contributions. The Department of Revenue advises taxpayers that these issues could “jeopardize the accuracy of your return or delay your refund.” Tax prep sites listed by the IRS charge nothing for the federal filing. States’ returns can cost $10. http://www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free

IL wants to cap LTCi rate hikes at 15%??!!!

A bill under consideration in the Illinoislegislature would cap long-term care insurance (LTCi) rate hikes at 15 percent annually. An increase of 15% a year would double the annual premium in 5 FIVE years. $2,000 at age 55 would mean $4,000 at age 60 and $8,000 by age 65. There are alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Kaiser scores top marks from healthy

For the sixth consecutive year, Kaiser Permanente ranked highest in customer satisfaction for health insurance amongCaliforniapolicyholders.

Most families overpay for less coverage

A Survey of 600 independent agents finds most families insured by mass-market carriers remain vulnerable to severe financial loss and overlook discounts. Families often do not carry enough liability coverage in a variety of forms. Too often, their homes and contents are not adequately protected. Meanwhile, these families also overlook many savings opportunities, such as higher deductibles and package discounts. By taking advantage of these savings opportunities and strengthening coverage against severe loss, families can often achieve more effective protection without a significant increase in premiums. Pay less for more protection using discounts and smart choices: http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Actual paper stocks and bonds going digital

The trade organization representing hundreds of securities firms, banks and asset managers in the U.S.supports the push for dematerialization. (Mr Spock says that means NO MORE HARD COPY PAPER securities.) Even restricted securities would become entries on a statement. That would be your only proof you own any stock, bond, shares, etc. The change will take years. The required holding time for the destruction of non-transferable securities (bankrupt or insolvent) will be reduced from six to four years. But look what happened to the Apple stock owner above who did not have paper shares.

Why is our wealth going in the wrong direction?

While the median net worth decreased for all age groups, older households lost the most money. Among households headed by someone age 65 or older, median net worth decreased in 2010.  Retired couples were worth a median of $307,728 in 2010. For seniors, most of the net worth is in housing, which just fell dramatically. $170,128 is the amount the average retiree has to carry them through 30 years of retirement.

How does a parking lot attendant accumulate $500,000 in stocks?

Mr Earl Crawley earns less than $20,000 a year. He has paid off his mortgage and has no debts. He raised a family. He does not use stock trading, get-rich-quick schemes or pyramid marketing. He invested small amounts each month, reinvested his dividends and held blue chip stocks like Exxon, Bank America, etc.   http://www.youtube.com/watch?v=XD0svDGyLWU

What can we learn from this guy?

http://www.kiplinger.com/article/investing/T047-C000-S002-investing-with-nickels-and-dimes.html

 
 
 

Get paid for saving?

Saving for your retirement can make you eligible for a tax credit worth up to $2,000. If you contribute to an employer-sponsored retirement plan, such as a 401(k) or to an IRA, you may be eligible for the Saver’s Credit. The saver’s credit can be claimed by:

• Married couples filing jointly with incomes up to $57,500 in 2012 or $59,000 in 2013;
• Heads of Household with incomes up to $43,125 in 2012 or $44,250 in 2013; and
• Married individuals filing separately and singles with incomes up to $28,750 in 2012 or $29,500 in 2013.

http://www.irs.gov/Credits-&-Deductions

Do you still have your taxes prepared by paid preparers?

Answer a few questions online and see how easy it is. Tax prep sites listed by the IRS charge nothing for the federal filing. States’ returns can cost $10. http://www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free

NC homeowners see rate hike

North Carolinainsurance companies and the top state regulator have agreed that homeowner's insurance policies can rise by a statewide average of 7 percent starting in July.  Time to shop for value: http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Sandyvictims still waiting for reimbursement

As of Feb. 28, there were 73,917 flood insurance claims made inNew Jerseyin connection withSandy. Four months after the storm, more than 20,000 claims have not been closed. People are living elsewhere or in the cold, some still without money to pay contractors. Banks wait for repair confirmations but contractors wait for payment—Catch 22. Banks profit from victim’s insurance money.

Long-term care coverage sales by GE in California have halted

Genworth Financial GE said it is suspending sales of individual long-term care coverage in California. Genworth has been requesting rate increases from state regulators on existing policies and said today that it’s working with California’s insurance overseer as it seeks to introduce a new long-term care offering. Alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

States start health exchanges

Michigan,New HampshireandWest Virginiaare the final three states to receive conditional federal approval to run state partnership health insurance exchanges under the 2010 health care law.

Are prepaid funerals right for you?

"I really don't think prepaid funerals are a good idea." Tom Waggener remembers how pleased his parents were when they told him 15 years ago that they'd prepaid for their own funerals. But after Waggener's mother died in 2006, the funeral home gave his family a bill for more than $10,000. It attributed the extra cost to a special order for the casket she had chosen, which was no longer in stock. There are better alternatives: http://www.amazon.com/Lifestyle-Insurance-refund-build-tax-FREE/dp/1482516411/

Why have health care charges exploded?

http://healthland.time.com/2013/02/20/bitter-pill-why-medical-bills-are-killing-us/

Why pay more?

Vanguard keeps lowering its fees. It is now rated the best fund by Morningstar. Other brands have to pay top salaries, marketing and owner’s shares. Vanguard is owned by its own shareholders like a cooperative. Perhaps it is time to move your retirement funds to Vanguard so you can keep more. http://www.amazon.com/Your-Retirement-Mutual-Funds-retirement/dp/1481114026

Are prepaid funerals right for you?

"I really don't think prepaid funerals are a good idea." Tom Waggener remembers how pleased his parents were when they told him 15 years ago that they'd prepaid for their own funerals. But after Waggener's mother died in 2006, the funeral home gave his family a bill for more than $10,000. It attributed the extra cost to a special order for the casket she had chosen, which was no longer in stock. There are better alternatives: http://www.amazon.com/Lifestyle-Insurance-refund-build-tax-FREE/dp/1482516411/

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

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

Is it time you paid your fair share?

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

Your Retirement Portfolio: Tax-FREE Income for Life

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

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

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

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

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

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

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

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

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

Housing growth spurs economy

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

New insurers and rates with ObamaCare exchanges

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

Are you paying higher premiums due to DMV errors?

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

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

Do you have an insurance question?

You have a question but you don’t want to call your agent or insurer. Try this free site.http://www.insurancelibrary.com/

Zero Tax Account: Why Pay More Taxes than the Wealthy Do?

What is your fair share? The wealthy pay as little as 13%. 2/3 of corporations pay NOTHING even though the law says they pay 35%. We are paying for US troops in 150 countries so the countries don’t have to. We are still stockpiling missiles and fighters at $80 Billions. We have already spent $3.7 Trillion on these two wars we did not have money for.  

Now they want to cut our Social Security and Medicare account benefits.

Is it time you started paying your fair share—ZERO tax on all your future investment earnings? With the cuts, you shouldn’t pay taxes too. Open your legal account today:  http://www.amazon.com/Your-ZERO-Tax-Account-Wealthy/dp/1482772795/

Are you paying more tax than Apple, Google, Facebook?

Yes, you probably are. They pay under 10% using legal tax avoidance tactics you can’t use. Over a four years period from 2008 to 2011, 26 companies managed to avoid paying any American income taxes, even though they earned $ billions during that time, according to research done by Citizens for Tax Justice.

IRS has $917 million in unclaimed 2009 tax refunds

You would think they could give me back my payroll tax hike with all this extra money sitting around. What about 2010 and 2011 refunds?

Also there's currently more than $58 billion in unclaimed money floating around in the form of abandoned bank accounts, stock holdings, insurance payouts and pension benefits. The states have most of that money and they cry about no money too. http://www.foxnews.com/politics/2013/03/14/17m-in-unclaimed-tax-refunds-to-expire-april-15/

Is the IRS cutting audits like the White House is cutting visits?

You bet.

However the IRS computer searches out mismatches in various categories. See if you could be making it easier for them to find you.

http://portal.kiplinger.com/article/taxes/T054-C000-S001-irs-audit-red-flags-the-dirty-dozen.html

Drinking may cost more than your drink

The price of car insurance for a Florida driver will almost double the first year after a driving under the influence conviction and will go up an average of $5,525 over seven years, according to a new study. Just in the first year, Floridians' insurance will jump 86 percent on average after a DUI conviction, with premiums spiraling to $3,072 a year, from $1,650, according to an insurance comparison website. Shopping may help you lower your premium: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

US lags other countries in average old age …. due to gunplay!

 Life expectancy in the United States is lower than in nearly every other developed country. "We die more at younger ages," says Jessica Y. Ho, whose study of the gap in mortality for those under age 50 was published this month in Health Affairs. For men, those younger deaths accounted for 67 percent of the shortfall in U.S.life expectancy compared with an average of 16 other high-income nations. For women, it was 41 percent. For men, nearly a fifth of the excess mortality was due to homicide. Transportation injuries, mainly car crashes, was close behind, followed by other injuries -- particularly drug overdoses. Perinatal mortality, such as pregnancy complications and birth trauma, accounted for 13 percent, cardiovascular diseases made up 8 percent, and other chronic conditions, 10 percent. Also contributing: suicide (4 percent), HIV (2 percent), and other communicable diseases (2 percent). Mortality per miles driven is no higher here than in 15 other wealthy countries. Americans simply drive more. Americans who made it through their younger years arrived at old age very, very healthy.

Will teachers help students understand using money?

The new financial literacy standards establish benchmarks for what kids should know by the end of grades 4, 8, and 12. They are broken into six personal finance categories:

• Earning income This includes collecting rent, stock dividends and interest on bonds. It also includes a discussion of the labor market and how education may lead to higher wages.
• Buying goods and services This includes planning, comparing, budgeting and making choices.
• Saving This includes near- and long-term goals and how time, interest rates and inflation affect savings.
• Using credit This includes borrowing options and how credit history helps determine availability of credit and the rate of interest that you pay.
• Investing This includes risk, rates of return and diversification.
• Protecting and insuring This includes potential loss of health, assets, income and identity, and how behavior affects the cost of insurance.
  Read more: http://business.time.com/2013/03/12/coming-soon-new-standards-for-teaching-kids-about-money/#ixzz2Ntvaq7uB

USAA, State Farm Top in Customer Experience

Temkin Experience Ratings includes 14 insurance carriers. It evaluates three areas of customer experience: functional (can customers do what they want to do), accessible (how easy it is to work with the company), and emotional (how consumers feel about their interactions). 21st Century and Liberty Mutual were the lowest rated insurers. The Hartford and 21st Century had the largest decline from 2012, losing seven percentage points. http://experiencematters.wordpress.com/2013/03/18/usaa-and-state-farm-lead-insurance-industry-in-2013-temkin-experience-ratings/

Do women know more about car insurance than men?

One survey says, “yes” but both know very little about their coverage. http://www.autoweek.com/article/20130311/carnews/130319981

Does your advisor get to keep more of your fees?

Advisers with Raymond James Financial Services who have at least $100 million in discretionary assets under management can choose to retain 100% of their advisory fees and pay a quarterly fee based on assets under management, instead of the traditional payout on fee revenues they produce. Raymond James will charge six basis points 0.06% on the first $100 million under management, three basis points on the next $100 million, one basis point (0.01%) on assets between $200 million and $300 million, and nothing after that, for a maximum of $100,000 per year.

So now we know what it really costs to manage your funds.

Vanguard has fees as low as 0.05% so we can skip the advisor fees of 200 basis points. http://www.amazon.com/Your-Investment-Edge-Tax-FREE-Account/dp/1482695677

Are you in the crossfire of the ETF price wars?

Fidelity allows advisors to trade 65 iShares exchange-traded funds without paying a commission on the Fidelity platform, up from 30. However, in offering the 65, Fido took away the 10 most used by advisors. Another beef is a $7.95-per-trade exit fee Fidelity will charge investors who sell the commission-free ETFs within 30 days of buying them. For advisers, the fee kicks in if an ETF is sold within 60 days. When it says ‘FREE’ you must look at the mouse print for other fees to make up for it.

Young investors MORE wary of advisors, survey says

“Surprisingly, the millennial generation has emerged from two boom-and-bust cycles even more conservative about investing and more skeptical of financial advice than the generations that were hit hardest by the market,” said Alex Pigliucci, global managing director of Accenture Wealth and Asset Management Services.

“Generation D,” a swath of investors 75 million strong that cuts across so-called millennials, Generation Xers and the baby boomers, poses a “a fundamental challenge” for advisors who want a piece of what has often been called the largest wealth transfer in history, Pigliucci said.

The internet has made investing directly more likely: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

How was your advisor trained?

Advisors are trained to make sales to you. You are sold what their firm has to sell when you seek help from your banker, broker, agent or advisor. Salespeople are required by their employers to follow the rules. Sell this, Say that, Do these things. Choice is gone. Their employer wants everyone to fit the mold—for the firm profit and protection. Read how they are trained: http://dealbook.nytimes.com/2013/03/02/selling-the-home-brand-a-look-inside-an-elite-jpmorgan-unit-2/

Largest pension fund finds advisors are just not worth the expense?

In the latest sign of the apocalypse for active management, the largest pension fund in the United Statesis mulling a move to an all-passive portfolio. The California Public Employees Retirement System's investment committee is evaluating whether the fees it pays its active managers are worth it or if paying less fees for passive management will lead to better long-term results. Experts say that at any given time, half the managers are ahead of the market and half are behind. Net result is the average less the fees. Members have already discovered this trend: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

What does your retirement budget look like? ACT NOW

57% of U.S.workers have less than $25,000 in total household savings and investments, excluding their homes.  28% said they have no confidence that they will have enough money to retire in comfort, the highest level in the 23-year history of the EBRI study. Only 66% report having any retirement savings, compared to 75%  of workers in 2009.
Many workers (41%) named cost of living and day-to-day expenses as their top reason for not contributing more to their employer’s retirement plans. Only 46% said they have calculated what they would need to save in order to live comfortably in retirement, EBRI says. Average worker incomes have fallen since the 1970s by 7% in real wages. Social Security benefits may last to 2033. “In 2033, incoming revenue and trust fund resources will be insufficient to maintain payment of full benefits,”   . Treasury Secretary Tim Geithner, said, referring to Social Security.  “At that point there will only be enough money to cover about  three-fourths of full benefits.”

http://www.cbpp.org/cms/index.cfm?fa=view&id=3860

Big Bang confirmed—the entire universe came from a speck—The First Miracle
New data says the visible portion of the universe was smaller than an atom when, in a split second, it exploded, cooled and expanded faster than the speed of light. The Planck space probe looked back at the afterglow of the Big Bang, and those results have now added about 80 million years to the universe's age, putting it at 13.81 billion years old.

The Second Miracle:

Even Mrs Bachmann was created from that tiny speck: "Let's repeal this failure [ObamaCare] before it literally kills women, kills children, kills senior citizens," Bachmann said on the House floor. 

Even Rand Paul who thinks Obama would kill Americans with a drone was created by a Miracle.

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

“Entitlements”—our Social Security and Medicare money—did not produce the deficits

Chaney/Bush wars cost $3.7 Trillion and counting

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

Another DANGER sign ignored—taxpayers set to bailout banks again!

U.S. House lawmakers advanced legislation that would ease Dodd-Frank Act derivatives rules and give banks greater ability to trade swaps overseas. It allows trading of almost all types of derivatives by units of banks that hold government-insured deposits. A separate bill would restrict U.S. regulators’ ability to apply rules to overseas transactions.  “It is incredible that less than a week after new JPMorgan Whale hearings detailed how the bank’s London office piled up risk, hid losses, and dodged regulatory oversight, that some House members are again supporting the weakening of derivative safeguards.”

Chase lost $6.2 billion on derivatives but still not know how

"There's a lot of evidence that they are maybe too big to manage," Sen. Levin said in a press briefing Thursday morning. But "our focus," he said, "is on the danger of derivatives which are not regulated properly." Regulation may not be possible and we may be asked to bail out another disaster. http://www.cnbc.com/id/100553551

Big banks cannot be regulated and will cause another bailout—HOW?

The emails presented by the Senate report show that JPMorgan did not follow their own guidelines and limits to control their traders. There is no accountability. Banks can just lie to the regulators and pay a fine if they are caught. Meanwhile they are betting your money in risky ways most regulators don’t even understand. They know we will have to bail them out no matter what happens. No one wants the system to crash. Read and weep.

http://www.nytimes.com/2013/03/17/business/jpmorgans-follies-for-all-to-see-in-a-senate-report.html?pagewanted=all&_r=0

Investors 'aghast' asCyprusto siphon cash from retail bank accounts

Levies of up to 12 percent part of bank rescue plan; citizens of divided nation united against scheme.Cyprusvoted down a controversial bank bailout deal.

U.S. Companies Stashing More Cash Abroad As Stockpiles Hit Record $1.45T

U.S.firms keep 58% of their cash, or $840 billion, overseas. Companies are hording cash overseas to avoid paying taxes. They are not using the cash for development, hiring, expansion in theUS since it is more profitable to grow in global new markets. Of course they expect US forces to rescue them if their plants or executives are attacked around the world. However, they don’t want to pay their fair share to supportUS presence where they are expanding.

Wealthy moving toPuerto Rico—ZERO tax on capital gains

PR’s new tax system allows new residents to pay no local orUSfederal taxes on capital gains. Hedge fund managers are starting to house hunt in Condado and put their kids in privateSt. John’sSchool. We will need to pay for the 23.8% they would have paid here. They will still be protected as US citizens but don’t pay forUSmilitary protection. We pay for them.

IAN

41 Watchung Plaza, B242

Montclair,NJ07042

973.746.2014

 Your Tax Haven

The Best Tax-FREE Account for Working Americans: Better than Mit’sCaymanIslandtax shelter

Your total return in 2012 could have been 15.3%, better than Warren Buffett’s “poor” 14.4%. Using your Tax-FREE account, that is equivalent to earning 23.3% because you will never pay taxes—no federal, state, capital gains or dividend taxes.  Start yours today for free.

http://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441/

Are prepaid funerals right for you?

"I really don't think prepaid funerals are a good idea." Tom Waggener remembers how pleased his parents were when they told him 15 years ago that they'd prepaid for their own funerals. But after Waggener's mother died in 2006, the funeral home gave his family a bill for more than $10,000. It attributed the extra cost to a special order for the casket she had chosen, which was no longer in stock. There are better alternatives: http://www.amazon.com/Lifestyle-Insurance-refund-build-tax-FREE/dp/1482516411/

Why have health care charges exploded?

http://healthland.time.com/2013/02/20/bitter-pill-why-medical-bills-are-killing-us/

Why pay more?

Vanguard keeps lowering its fees. It is now rated the best fund by Morningstar. Other brands have to pay top salaries, marketing and owner’s shares. Vanguard is owned by its own shareholders like a cooperative. Perhaps it is time to move your retirement funds to Vanguard so you can keep more. http://www.amazon.com/Your-Retirement-Mutual-Funds-retirement/dp/1481114026

Get paid for saving?

Saving for your retirement can make you eligible for a tax credit worth up to $2,000. If you contribute to an employer-sponsored retirement plan, such as a 401(k) or to an IRA, you may be eligible for the Saver’s Credit. The saver’s credit can be claimed by:

• Married couples filing jointly with incomes up to $57,500 in 2012 or $59,000 in 2013;
• Heads of Household with incomes up to $43,125 in 2012 or $44,250 in 2013; and
• Married individuals filing separately and singles with incomes up to $28,750 in 2012 or $29,500 in 2013.

http://www.irs.gov/Credits-&-Deductions

Do you still have your taxes prepared by paid preparers?

Answer a few questions online and see how easy it is. Tax prep sites listed by the IRS charge nothing for the federal filing. States’ returns can cost $10. http://www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free

NC homeowners see rate hike

North Carolinainsurance companies and the top state regulator have agreed that homeowner's insurance policies can rise by a statewide average of 7 percent starting in July.  Time to shop for value: http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Sandyvictims still waiting for reimbursement

As of Feb. 28, there were 73,917 flood insurance claims made inNew Jerseyin connection withSandy. Four months after the storm, more than 20,000 claims have not been closed. People are living elsewhere or in the cold, some still without money to pay contractors. Banks wait for repair confirmations but contractors wait for payment—Catch 22. Banks profit from victim’s insurance money.

Long-term care coverage sales by GE in California have halted

Genworth Financial GE said it is suspending sales of individual long-term care coverage in California. Genworth has been requesting rate increases from state regulators on existing policies and said today that it’s working with California’s insurance overseer as it seeks to introduce a new long-term care offering. Alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

States start health exchanges

Michigan,New HampshireandWest Virginiaare the final three states to receive conditional federal approval to run state partnership health insurance exchanges under the 2010 health care law.

 

Best Graduation gift? Help them start investing early!

Parking lot attendant Earl Crawley started early with $100 and now has $500,000:

http://www.youtube.com/watch?v=XD0svDGyLWU 

Starting early is the easiest way to assure your grad of living well.

All it takes is $9 a day and 1 hour to set up a tax-FREE account.

Accumulate $1,000,000 with NO taxes EVER.

Compounding stock dividends is how millionaires double their money. http://www.amazon.com/Wealth-every-school-graduate-century/dp/1466427906

Tax deadline advice

The IRS has some advice for taxpayers who missed the tax filing deadline. File as soon as possible.  If you owe federal income tax, you should file and pay as soon as you can to minimize any penalty and interest charges. There is no penalty for filing a late return if you are due a refund. Free File is still working. http://www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free

Will Obama’s budget change your retirement plan?

There are good, bad and ugly here: http://money.usnews.com/money/blogs/planning-to-retire/2013/04/10/how-obamas-budget-impacts-retirement-savers

You have to make up for cuts in Social Security benefits. We need to grow our tax-FREE income NOW while we can: http://www.amazon.com/Tax-FREE-Income-Replaces-Social-Security/dp/1484129539/

What will the “CPI in chains” do to your SS benefits?

Over time, the new increases will NOT keep up with inflation since most older folks need to buy medication and health care. These items have been increasing at twice the rate of inflation NOT less. The loss of benefits is estimated to grow quickly: http://seekingalpha.com/article/1334361-the-chained-cpi-how-big-of-a-difference-does-it-make?source=yahoo

401k fee disclosure just as undisclosed as before—fees can cost 40% of nest egg?

Most employees were supposed to learn in clear English, how much they were paying for administration, record-keeping and accounting as well as investment and operating expenses. The disclosures have been problematic for investors while creating more paperwork for employers and plan-management companies. Regulators are tracking claims to see if we are still intentionally misled. However, the point is that we still don’t know how much in total is taken from our money. We can learn a lot from Brightscope’s ratings of plans: EG Google: http://www.brightscope.com/401k-rating/367778/Google-Inc/372789/Google-Inc-401K-Savings-Plan/

Buy only tax-FREE low-cost retirement funds: http://www.amazon.com/Your-Retirement-Mutual-Funds-retirement/dp/1481114026

Long-term care costs rise: is insurance right for you?

Study shows a continued upward trajectory when it comes to the cost of obtaining long term care services. The cost of receiving care in a setting such as an assisted living facility or nursing home is dramatically increasing, while the cost to receive care at home through homemaker services or a home health aide is rising at a much more gradual pace.The median annual costs have gone up from $65,200 to $83,950, increasing at more than four percent a year. The better news is that costs for homemaker services and home health aides have remained relatively flat. Since 70% of Genworth's first time long term care claimants choose in-home care, these costs have remained more manageable. Learn what the alternatives to insurance are: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

GAO says some pension plans in trouble: Can you prepare?

Government Accountability Office acknowledged that the most severely distressed multiemployer plans have taken significant steps to address their funding problems. The Pension Benefit Guaranty Corporation's financial assistance to multiemployer plans continues to increase, and plan insolvencies threaten PBGC's insurance fund's ability to pay pension guarantees for retirees, the GAO noted. Since 2009, the PBGC's financial assistance to plans has increased significantly, primarily due to a growing number of plan insolvencies. The PBGC estimated that the insurance fund would be exhausted in about two to three years if the projected insolvencies of either of two large plans occur in the next 10 to 20 years. By 2017, the PBGC anticipates the number of insolvencies to more than double, further stressing the insurance fund. Build your own guarantee fund: http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

Are you prepared for medical costs in retirement?

While a man retiring in 2020 will have a 50-50 chance of having all his future out-of-pocket medical expenses exceed $109,000, a new study found that men's median estimate of those costs is just $60,000. For women, the median estimate of out-of-pocket costs is just $30,000. But partly because they tend to live longer, they have a 50 percent chance of having their future expenses exceed $156,000.

"Medicare only covers 60 percent of health care in retirement," study director Hoffman said. "Even with a Medigap policy or an employer sponsored retiree plan, people are still going to have out of pocket expenses. The hardest thing for people to plan for is to find the balance between the right level of coverage and the right level of what they might spend out of pocket." Retirees do have the option of a high-end Medigap policy that covers more, but that can be expensive protection. Premiums aren’t refundable.

Learn about options: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Why are employers picking high-deductible plans?

Mercer report says the number of employers switching to high-deductible health plans increased from 12% in 2010 to 26% last year. Moving even a small number of employees out of a more expensive plan into a CDHP can result in significant savings for an employer. The cost of coverage in a CDHP with a health savings account is about 20% lower, on average, than the cost of PPO coverage – $7,833 per employee compared to $10,007. Employers are also looking at “self-insuring” their plans to control costs and benefit from cost reductions directly. Large employers have been self-insured for years, saving the capital insurers take from premiums. Use our Guide to buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Congress hides its stock trades AGAIN—only bill GOP and DEMS agree on!

Congress rushed through a bill to exempt federal government employees from having to disclose their financial dealings online. Critics said this law eviscerates part of last year's Stock Act, designed to stop insider trading by federal officials. Senate Majority Leader Harry Reid introduced the bill on Thursday and had the chamber vote on it late that evening. The House took the bill up on Friday afternoon and passed it by unanimous consent, with no members objecting.

Most Congress people get richer by investing in firms they know will benefit from laws they pass. It is illegal for Americans to use insider information but Congress was exempt until last year. Now, no one will know if they do illegal trading. The median net worth of a U.S. senator was $2.63 million in 2010, the most recent year for which financial data are available. That was up 11% from the year before. Studies by Alan Ziobrowski at Georgia State University conclude that our ‘reps’ regularly outperform the markets by large amounts due to the “significant information advantage” they derive from their jobs. You need an Investment Edge too: http://www.amazon.com/Your-Investment-Edge-Tax-FREE-Account/dp/1482695677

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

Gas prices remain high despite US producing more oil/gas here—No energy independence pay off!

American refiners export more than 3 million barrels per day to other countries, which are willing to pay more than we are. Also, U.S.shipping interests have made it more costly to move fuel between U.S. ports. This in particular hurts the Northeast, which is struggling to meet its fuel needs after several refineries closed in the last two years. As a result, it’s often cheaper for aGulfCoast refiner to send gasoline toBrazil than toNew York. Despite the hype,Venezuela doubled its imports in 2012.

http://www.businessweek.com/articles/2013-03-28/why-abundant-oil-hasnt-cut-gasoline-prices

BankAmericasued for taking kickbacks from insurers

Bank of America must face claims by homeowners that it took kickbacks from private insurers.Three Pennsylvaniahomeowners sued the bank last year claiming its pay-to-play reinsurance scheme cost borrowers $284.7 million between 2004 and the end of 2011. That’s the amount Bank of America allegedly collected from private mortgage insurers as its share of insurance premiums for referring borrowers, according to the complaint.Homebuyers who take out mortgages with less than 20 percent down payments are typically required to purchase private mortgage insurance at closing. The premium paid by the borrower protects the lender in the event of a default. Bank collects twice with no risk.

Why does the Congress allow corporations to use gimmicks to pay less tax than we do?

Apple paid just $3.3 billion on $34.2 billion of profits in 2011— giving it a tax rate of just 9.8 percent. Nearly every major technology firm has its share of tax tricks up its sleeve. Apple accomplishes this feat with a two-pronged tax strategy. For domestic sales, the company pays profits as a royalty on a subsidiary it owns in Ireland, which are then routed to a tax haven. For overseas sales, the company uses a second Irish sub, routes the profits through The Netherlands to avoid European taxes, and then sends its profits to its tax haven via the first Irish sub. This sub is called a “disregarded entity”—an affiliate not subject to U.S. income tax. (This strategy is called the “Double Irish with a Dutch Sandwich,” the report says.) Warren Buffett pays only 17% total tax, Mitt Romney only 14%, and John Kerry only 13%.

Isn’t it time you used IRS rules to your advantage too? http://www.amazon.com/Your-ZERO-Tax-Account-Wealthy/dp/1482772795

Why do high-fee money managers using no-fee index funds charge fees?

The latest buyers of index funds called ETFs are those managers who say, “We can pick the right stocks and beat the market, so pay us 2-3% of your balance annually.”

More than 100 mutual funds hold SDPR S&P 500 (SPY), while more than 70 portfolios use iShares iBoxx High Yield Corporate (HYG). Mutual Funds with ETF stakes include Columbia Dividend Income (LBSAX), Monetta (MONTX) and Vanguard Windsor II (VWNFX). ETF provider SPDR says that 21 of the 25 largest fund companies hold at least some ETFs. The managers could bid for individual securities, but, they figure, it is simpler just to buy an ETF. So why are they still charging us the full load?

Duh—because they can.  

Switch to the real thing AND pay no income taxes on your gains—EVER! http://www.amazon.com/Reboot-Switch-Tax-FREE-investing-ebook/dp/B00CV612SU/

Do you own any of these funds?

Here are 10 funds that lag their low-cost index because they charge too much. 

Here are 12 real dogs that have lost you money (-8% to -14%) in the last 5 years AND still charged you 2-3% per year. It is enough to make you cry or quit!

Now there is an answer. Buy and hold ten low-cost funds earning 10-12% a year. Accumulate $400,000 in 25 years. http://www.amazon.com/Keep-More-What-Earn-ebook/dp/B009A9YR10

Hedge funds earn 5.4%, index earns 15.4%; amateurs beat “professionals”

Hedge funds’ returns have stayed “lackluster” this year, with the $2.3 trillion industry trailing the gains of the Standard & Poor’s 500 Index by about 10 percentage points, according to Goldman Sachs. Hedge funds gained 5.4 percent on average through May 10, compared with a 15.4 percent rise for the S&P 500 (SPX) and a 14.8 percent increase for the typical mutual fund, a team of Goldman Sachs analysts said. http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Why are early retirees robbing their IRAs?

48 percent of people who were aged 61 to 70 and in the bottom half of the income distribution withdrew money from their IRAs annually during the period studied (2002-10). Even in the top quarter of incomes, 29 percent of people aged 61 to 70 annually pulled money out of their IRAs, EBRI said.

The sizes of the withdrawals were substantial, too, ranging from 12 percent of funds for young seniors in the top quarter of incomes to 17 percent for those in the bottom quarter.

Older seniors (aged 71 and up) appeared to be more frugal, according to the EBRI study. The Internal Revenue Service requires people with ordinary IRAs to make minimum withdrawals each year starting at age 70½. Many of the older seniors withdrew just the minimum—and then stashed some of the proceeds into other forms of savings. Save $3,000 a year on financial services to rebuild your funds: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

CA pension firm’s long-term care insurance premium up 85%

People who bought long-term care insurance from CalPERS 10 or 20 years ago, thinking it would provide security in their old age, are stunned to learn the agency is raising rates by 85 percent over two years. What are the alternatives? http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

CA cites initial premiums for ObamaCare insurance

In southern Los Angeles, for example, a 40-year-old individual would pay anywhere from $242 a month for a plan from HealthNet to $259 for plans from Molina or Anthem. The comparable plan for a small employer costs $362. http://www.nytimes.com/2013/05/24/business/california-puts-tentative-price-on-health-policies-under-new-law.html?emc=tnt&tntemail0=y&_r=0

How does your retirement look? Need more assets?

57% ofU.S.workers have less than $25,000 in total household savings and investments, excluding their homes. 28% said they have no confidence that they will have enough money to retire in comfort, the highest level in the 23-year history of the EBRI study. Only 66% report having any retirement savings, compared to 75% of workers in 2009. 

http://www.amazon.com/Your-Retirement-Budget-Investments-Income/dp/1483946487

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

NJ hospital tops medical cost listing

Bayonne (N.J.) Medical Center, a 278-bed, for-profit hospital in a working-class city, charges the highest prices of any hospital in the nation, according to an analysis of federal billing data released by President Obama's administration. Based on the bills it submits to Medicare, theBayonneMedicalCenter charged the highest amounts in the country for nearly one-quarter of the most common hospital treatments, according to a New York Times analysis of 2011 data, the most recent available. No other hospital was at the top of the price list more often.

Health plans sold by United States Benefits are bogus; premiums returned

Fake health plans go by many names. Check the details with your state insurance regulator. http://www.consumer.ftc.gov/articles/0165-discount-plan-or-health-insurance

IAN

41 Watchung Plaza, B242

Montclair,NJ07042

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