Year: 2016

  • 8 Reasons this was the Best NBA season ever

    2016 will go down in the history books as one of the best seasons in NBA history. Here are my eight reasons

     

    1. The Golden State Warriors break Michael Jordan’s Bulls sacred single season record going 73-9.insurance, New York, financial services, Queens
    2. LeBron James’ Cavaliers shock the world coming back from a 3-1 deficit and win the title, breaking the city of Cleveland’s 52-year city championship drought.
    3. MVP candidate Kevin “KD” Durrant signs a free agent contract with the powerhouse Warriors.
    4. The NBA salary cap rises a record 34% from $70-94 million due to TV revenues and a collective bargaining agreement that demands it gets spread to players.
    5. The salary cap increase will help small-market teams lure better quality free agents, however the better teams will be able to spend more as well.
    6. LeBron James and KD lead one of the most talented groups of free agents in one off-season all time.
    7. The large-market Knicks and Lakers are positioned going forward to actually be watchable.
    8. Jeremy Lin brings his “Linsanity” to the hapless Brooklyn Nets team. Where will LeBron James sign?
  • The Magic of Premium Finance Life Insurance

    The Magic of Premium Finance Life Insurance

    By: Robert C. Intelisano CLU, CSA, LUTCF

    How does it work?

    Those who don’t understand the true benefits of life insurance premium financing worry this is a tool dependent on interest rates or policy performance. But even when interest rates have been high and markets have been shaky, financially savvy brokers have been closing deals by funding life insurance premiums.

    premium finance, life insurance, New YorkWhy? Because in order for high-net-worth individuals to continue to grow and protect their wealth, they need to take advantage of leverage and actively look for investment opportunities that yield returns greater than the cost of capital. In other words, many need life insurance to address inheritance, business and tax issues, but they’d prefer to keep the funds they would spend on life insurance premiums in investments that yield more profitable returns.

    The economy, although sluggish, is moving again, and with rates hovering at all-time lows, premium financing life insurance makes more sense than ever.

    The reason? Retained capital.

    In this instance, retained capital is the amount of money a client can hold on to — and ultimately invest elsewhere — by paying interest on a loan that covers the cost of a premium versus paying the premium itself. Many high-net-worth clients report that they earn 10 percent to 15 percent or more on their money. If that’s the case, why take funds out of profitable investments in order to pay a premium?

    But let’s be clear. Premium finance is not a gimmick. It is not free insurance. It never was and never will be. It is not a play on the potential arbitrage between policy crediting rates and interest rates. Your client will have to pay interest to a lender and will have to post collateral equal to the difference between the cash surrender value of the policy and the loan balance. It is simply a tool to help your client reduce the initial out-of-pocket expenses relating to the purchase of a life insurance policy and a way to keep their money working for them in their investments of choice.

    To finance or not to finance?

    To better understand what an asset premium financing can be, we have to look at the potential profit our clients would lose out on if they don’t use it. In other words, the lost opportunity cost. So, let’s take a look at the numbers and consider the lost opportunity cost of paying a $100,000 premium out of pocket.

    If an individual truly earns 10 percent on the funds he would use for a premium payment, then he would lose the opportunity to grow his net worth by $10,000 if he were to pay the premium himself. Utilizing the benefits of premium financing, if the client finances the $100,000 premium at 5 percent interest, his out-of-pocket cost in year one is $5,000, and his retained capital is $95,000. That client could re-invest the $95,000 in a vehicle that returns 10 percent and end the year with $104,500 and a life insurance policy to protect those assets. Over time, this growth compounds. This is the power of premium finance!

     

  • 10 Fun & Not So Fun Facts About Puerto Rico

    After 20+ years I just spent a week at the El San Juan and learned that it’s not what it used to be.  Here’s what I found.

    The streets of San Juan, Puerto Rico
    streets of San Juan, Puerto Rico

    1. Leave your passport home: PR is a U.S. territory hence, you can ditch your passport!  Bring a valid / current photo ID though.

    2. The drinking age is 18 and currency is U.S. dollar
    :  It makes things very easy to buy what you forgot to pack.

    3. There are 5 Miss Universe winners from PR: Unfortunately, I didn’t see any of them at the beach.

    4. PR has 270 miles of beaches and is an archipelago: which means there are more islands to explore.

    5. The west coast of PR has some of the best surfing and diving in all of the Caribbean: A hidden gem for sure.

    6. PR has some of the best coffee in the world: Having been on 5 of the 7 continents I rate them in my top 5.

    7. PR is the home of the world’s largest telescope: It’s called the Arecibo Observatory.

    8. PR is almost always between 70 to 80 degrees year round: Weather is steady but no guarantee.  We were just had 2 of 7 days that were sunny.  We did find that the humidity seemed lower and less bugs than before.

    9. PR is in deep debt that is currently $72B: Old town San Juan was noticeably run down with many closed businesses and less people.  There was actually a shortage of luggage earlier this year because so many people are leaving the island.

    Zip line fun in Puerto Rico
    Zip line fun in Puerto Rico

    10. Currently, PR has no bankruptcy protection: PR is in a deep recession and there’s no guarantee that the USA will bail them out.  They are having elections in may and corruption is rampant.  The relationship between the U.S. and PR is a “tricky” one.  We shall see how it plays out.

    In summary,  PR is still a fun place to visit.  That being said if you were there years ago like us you will notice the difference and might be disappointed!

  • Don’t Drink Smoothies

    Don’t Drink Smoothies

    by Shayna Hiller

    If you are even 14 percent involved or interested in the world of health, nutrition, and wellness, you probably have heard that drinking smoothies is good for your health. No, I’m not talking about a Wendy’s frosty (omg yum but gross simultaneously). I’m talking about the green concoction many health-savvy folks devour daily in an effort to maximize nutrient intake, get their ‘greens’ in, add healthy fats, maintain weight, and fuel up pre or post workout. Well, I have some news for you: smoothies may not be as wholesome as you think. Don’t listen to everything you hear.

    As a yogi, health coach, and ex-rawfoodist, I can tell you first hand that FOR ME green smoothies don’t work. Now, don’t get me wrong. I still consume them occasionally because I like g-smoothiethem. And P.S. having some of what you really enjoy won’t kill you (there are some exceptions, but I’ll save that for a later post). When I say smoothies don’t work for me, I simply mean they don’t work for me right now. Depending on many factors, certain foods may serve us at certain points in our lives. Our bodies are always changing, and our diets should be too.

    A few months ago, I was talking with a friend of mine (fellow health coach) about how I was feeling ungrounded. It was a very odd and unusual feeling. I told him I sometimes feel like everything in life is going at 100 mph and I just can’t keep up. I described that I often feel hyper sensitive, to the extent that it can become difficult to interact in groups and at large events. After listening to me rant, he asked me one question: “What are you eating?”

    Huh? What am I eating? Did you hear me? I’m telling you about how I feel in my life, and your advice is to ask me what I’m eating? How could that possibly be related?

    Reluctantly, I told him my typical daily intake. I happened to be especially proud to tell him all of the magnificent ingredients that go into my superfood smoothie every morning: coconut water, chia seeds, blueberries, spirulina, almond butter, bananas, kale, spinach, and hemp seeds.

    Apparently, my concoction proved not so thrilling when he immediately demanded I stop consuming it. I was baffled beyond belief and attempted to combat his abrupt decision. He suggested that I stop drinking my smoothie for one week to see how I feel. Since that time, I have had maybe one smoothie, and overall, I feel so much more grounded, relaxed, and focused. Call it placebo, or try for yourself.

    The reason drinking smoothies can be obstructive to some peoples’ health depends on many factors. In my case, I do not process many raw foods well. I am a light person by nature, and too many raw foods only make my energy lighter and are difficult to digest. In order to get work done, establish solid relationships, and be fully present in my body, concentrate, and focus, cooked foods, soups, stews, and protein work best for me. Eating warm food makes me feel more grounded, and ultimately, more healthy.

    Regardless of the way you handle certain foods, it’s important to learn more about why you make the choices you make for your health. Do you know why you do what you do, or do you simply follow the crowd because it sounds good?

    Don’t let smoothies deceive you. Learn the secret lives of smoothies:

    1. Usually smoothies contain way too much sugar. 

    Would you really eat three apples and a banana in one sitting? Even if you add a handful of spinach to your smoothie, you might as well eat a spinach salad or sauté some spinach and skip the fruit. Sugar makes you fat and can lead to diseases. Yes, even fruit.

    2. Smoothies may be poorly combined.

    Even a totally organic, raw food, vegan superfood smoothie can be detrimental to your health if there’s ‘too much going on’. Yes, smoothies can be easier on digestion, but depending on what’s in it, your body can have a difficult time processing the ingredients. For example, fruit digests much quicker than nuts, so if you add almond butter to your smoothie, the fruit may get backed up in your colon and cause fermentation and yeast. Again, these are general possibilities, and I know many people who feel great drinking smoothies on a daily basis. This may be you, and that’s wonderful. I am talking to those of you who drink smoothies because you think they’re good for you, but you probably wouldn’t drink them otherwise and/or you experience some of the physical side effects.

    3. Raw spinach interferes with absorption of calcium.

    Certain raw vegetables contain oxalic acid, which inhibits calcium absorption. Due to this interesting fact, it is actually healthier to lightly cook certain vegetables than eat them raw. Oxalic acid is broken down during the cooking process while many other nutrients are retained. Some vegetables containing oxalic acid include spinach, beet greens, and Swiss chard.

    4. Dairy is one of the highest known allergen foods.

    If you are still putting yogurt in your smoothies, please stop. Not only is it SO ten years ago, but it’s totally not necessary and not healthy. I’m not saying all dairy is bad and should be avoided, but if you’re going to indulge in dairy, just have a piece of cheese or something good at least. Or eat plain organic yogurt by itself. Not in your smoothie. It’s just silly. Dairy is known to cause mucus, congestion, acne, inflammation, and weight gain. It is difficult to digest for many people, and people tend to overlook the close association between dairy and physical reactions. If you’re craving creaminess in your smoothie, add some homemade hemp milk or almond milk.

    5. Protein powders? There is no ‘powder tree’.

    One of my favorite quotes by author and nutrition enthusiast Michael Pollan: “If it comes from a plant, eat it. If it was made in a plant, don’t.” Ahhhh… music to my ears. I don’t care how many grams of protein or how organic or how ‘whole’ it is, powder is processed. It does not exist in nature, and regardless, our bodies aren’t capable of breaking down that much protein at once… especially when you’re guzzling it in a short amount of time. And I’m referring to vegan protein powders here… don’t even get me started on WHEY… NO WAY, WHEY! Hemp and chia seeds contain plenty of protein. You don’t need to add more to your smoothie. Eat an egg.

    6. It’s too much at once.

    Unless you have enough self-discipline to ‘chew’ your smoothie, chances are that BPA-free smoothie mug of yours will be empty in less than 5 minutes. The truth is, you SHOULD chew your smoothie. Reminder: A smoothie is a bunch of foods blended together, and while blending does make it easier on the digestive stem, chewing is what initiates digestion. A smoothie is not a drink. It’s food that looks like a drink. Without chewing, the body may not release necessary ‘pre-digestive’ enzymes. Remember, digestion starts in the mouth. When consuming a smoothie, swish it around your mouth and get your digestive juices flowing.

  • 4 Fun March Madness 2016 Questions

    A lot of people are predicting that this will be the most insane NCAA Tourney in a long time because, well, it’s coming immediately following one of the most insane regular seasons the sport has ever seen.

    1. Increased madness? In 2015-16, teams ranked in the top 10 of the Associated Press Top 25 were beaten a grand total of 74 times, the highest total in the history of the poll. Top five teams suffered a total of 37 losses, 21 of which came at the hands of unranked teams. No. 1 teams weren’t immune to the madness, either, as five of them fell before the season hit February, something that had not taken place since 1949.m-madness-b-ball
    2. Stephen F. Austin?: While the world continues to focus its mid-major attention on Gonzaga and Wichita State, Stephen F. Austin just continues to whoop on any fool who dares to stand in its way. The Lumberjacks were the only team in college basketball to go 18-0 in conference play this season and will carry the nation’s longest winning streak (20) into the NCAA Tournament.
    3. When Will #1 seeds lose? Since the NCAA tournament was expanded to 64 teams the #1 seeds ate 124-0. #2 seeds during that same 31 year period are 117-7.  The last 2 times it happened was in 2012 when my Lehigh Mountain Hawks, led by C.J. McCollum beat Duke 75-70 and in 2013 Georgetown fell to FGCU aka Florida Gulf Coast U.
    4. Who are the lowest seeds to ever make the final 4? The lowest seed to ever make the final four is #11 and it happened 3 times. LSU did it first in 1986 followed by George Mason in 2006 and VCU did it back in 2011.

    The first week of the NCAA tournament has been known to have the highest work absentee rate as well as the lowest production rate of any non-holiday week of the year! 

  • 5 Reasons to Visit Bend, Oregon

    5 Reasons to Visit Bend, Oregon

    Bend, Oregon1- The Outdoors: If you know only one thing about Bend, it’s that the city loves the outdoors. Located in the high desert at the foot of multiple mountains, there are outdoor activities in Bend year-round. Hiking, fishing, boating, skiing, cycling, running and camping to name a few.

    2- Breweries: Plenty of handcrafted beer brewers have sprung up in Oregon over the last decade, but Bend has truly led the charge with their immensely popular Deschutes Brewery, which was founded in 1988. Deschutes, which is now the fifth-largest craft brewery in the world. With 32 micro breweries Bend, Oregon has the most breweries per capita in the USA.

    3- Volcanoes: Bend, which is one of only three US cities to have an extinct volcano in its city limits, is largely built on the remains of centuries-old volcanic activity. Which means there’s lava rock all over the place and also a lot of historical information about volcanoes and even a pretty rad theater/bar called the Volcanic Theatre Pub.

    4- Dog friendly: People in Bend love their dogs. In 2012, Bend was rated the Dog Friendliest City, according to “Dog Fancy,” a publication that really knows dogs. The city earned the distinction thanks to its many off-leash dog areas, as well as pet-friendly businesses and establishments. Those who love dining alongside their neighbor’s dachshunds will get a kick out of the perpetual presence of pets.

    5- Business Opportunity: For years, optimistic economists have been predicting that Bend could be the next big place for entrepreneurs. Already, startups have begun to crop up, employing all the smart young folks in high-paying, emerging tech jobs. As the population tops 80,000 and housing prices continue to drop, Bend could be the next Silicon Valley.

     

    Contact Robert today for a free financial ‘check-up’.

  • 5 Tips for Last Minute Obamacare Shoppers

    5 Tips for Last Minute Obamacare Shoppers

    This Sunday, 1/31/16 is the scheduled deadline for the nationwide enrollment period for individuals and families. If you don’t act soon, you may be stuck with your current plan or uninsured until 2017!

    Here are the top 5 tips to consider:JAN31-DEADLINE

    1. Beware of killer out of pocket costs: Affordable premiums are important. But no less important are the out-of-pocket costs (co-pays, deductibles etc.) you face when you get sick. What good is having a plan you can’t afford to use?
    2. HSA-eligible health plans can save a bundle: Health savings accounts usually have high deductibles and can save you money. You can also save money on a tax-deductible basis for qualified medical expenses (co-pay deductibles etc.)
    3. Subsidies, if eligible can save hundreds per month: If a single earns $47,000 or less ($97,000 for families) they may qualify for subsidy. Don’t leave money on the table!
    4. Don’t lie about your income to get subsidy: Any subsidies given by the government will be reconciled on your 2016 income tax return the first quarter of 2017.

    Use a broker to help: The premiums are the same whether you use a broker or buy directly through the internet so why not get professional advice for free?!

    CALL 917-359-3985

  • UNICO: Service Above Self

    UNICO: Service Above Self

    I’m a proud member of Unico which is “the largest  Italian-American service organization in the USA. Unico is Italian for the word ‘unique’. Our credo is “Service Above Self”.

    Please watch this short video and consider supporting UNICO’s efforts to improve our valued veteran’s quality of life.

  • 6 Tips for your Financial New Year’s Resolutions

    6 Tips for your Financial New Year’s Resolutions

    Six out of ten American’s will make some type of financial based New Year’s resolution for 2016. Usually there’s a triggering event like receiving your December 2015 credit card bill or spousal pressure to name two. Follow these tips;2016-resolutions

    1. Consolidate Financial accounts: Close 1 or 2 existing financial accounts that you are not tracking or have insignificant monies in. This will save brain space, reduce statement clutter and avoid paying unnecessary fees.
    2. Increase your 401k/employer retirement contributions: Raise your contributions 1%/year minimum. You won’t feel the difference however over time it can make a major impact when entering retirement.
    1. Develop a budget and/or expense statement: Review credit card, bank and checkbook statements to get a handle on inflow and outflow of money. Start using a program like quick books or if old school draft a budget by hand and hang it up where you can see it. This can cause heavy emotional denial however better now than later.
    2. Set up a system to save systematic money: Either something informal like putting the $20 you are saving in gas on fill-ups in a jar. Formal ideas like buying a cash value life insurance policy or setting up an Eft thru your bank account.
    3. Protecting your health saves your wealth: We all know about the escalating cost of health insurance and health care in general. Renew that gym membership, yoga studio or dust off that treadmill in the garage.
    4. Bring balance to your life: Take that vacation you have been putting off. The rest and rejuvenation will impact you health. Statistics show that one who works 46 weeks/year will out produce a 52 week/year worker. It will give you something to look forward to and forces one to be very productive before leaving and when returning home. Use frequent flyer miles if need be.

    Contact Robert today to help achieve your New Year’s Financial Resolutions