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  • 10 Interesting March Madness NCAA Facts

    10 Interesting March Madness NCAA Facts

    March Madness is upon us!  One of my favorite times of the year.  Check out these fun facts about the men’s NCAA basketball tournament:

    1. Started in 1939: In the first year there were only 8 teams and the Oregon Webfoots defeated the Ohio State Buckeyes.
    2. March Madness Phrase: It was first uttered by Brent Musberger in 1982 during the tournament telecast.
    3. First NCAA bracket pool: In 1977 the first bracket pool was invented at Joey’s Club Forest bar in Staten Island, NY. It was a draft, there were 88 teams and it was $10/team. The pool was up to $1.5m in 2005 and was shut down in 2006 by the IRS due to tax evasion.
    4. NCAA tourney single-game scoring record: Notre Dame shooting guard Austin Carr scored 61 points in an opening-round game vs. Ohio. David Robinson is 2nd all-time scoring 50 points in a game for Navy in 1987.
    5. One coach has won NCAA and NBA titles: This was accomplished by Larry Brown with Kansas in 1988 and the Detroit Pistons in 2004.
    6. UCONN Men and Women: UCONN is the only school that has fielded the men’s and women’s champs in the same year having done it twice in 2004 and 2014.
    7. The most NCAA titles: UCLA has won the most titles with 11. They won 7 in a row under legendary coach John Wooden from 1967-73.  Kentucky is in 2nd place all-time with 8 titles.
    8. 16 seed vs. 1seed: This year the #16 seed UMBC aka the University of Maryland Baltimore County beat #1 seed Virginia Cavaliers for the first time in NCAA tourney history!
    9. The lowest seed to win: The 8th seeded Villanova Wildcats were the lowest seed to ever win the tournament in an epic game beating Georgetown in 1985 when there was no shot clock.
    10. Betting and work loss: Wallethub estimates $1.9b in lost hourly corporate losses due to workers’ productivity being diverted to the NCAA. Other than the Super Bowl, the NCAA tournament is the 2nd most betted sporting event of the year!

  • 8 Fun facts about ML Baseball Spring Training

    This week pitchers and catchers report for spring training. I get excited because the baseball season is beginning and winter is ending. These minor league stadiums are a lot of fun to visit. Enjoy these tidbits!

    1. The Florida “Grapefruit league” and Arizona “Cactus league” are a 50/50 split which 15 teams training in each state.insurance, financial services, New York
    2. Do you want a closer look at your favorite players than from your seat? Visit their spring training stadium where access rules are very lax.
    3. George M. Steinbrenner Field (Tampa) has the same outfield dimensions as Yankee Stadium. It also sits directly across the street from Raymond James Stadium where the Tampa Bay Buccaneers play.
    4. Surprise Stadium (Royals and Rangers) in Arizona has a merry-go-round in the right-field concourse.
    5. The foul poles at Phoenix Municipal Stadium (Athletics) were originally used at the polo grounds.
    6. Fans attending Blue Jay’s games in Dunedin, Florida get to hear both the Canadian and USA’s national anthems. They also have Labatt’s beer on tap at Florida auto exchange stadium.
    7. Bright House Network field in Clearwater, Fla. Caters to Phillies fans serving Philly cheese steaks and Yuengling beer.
    8. In 2017 the “Ballpark of Palm Beaches” (West Palm Beach, Fla.) will open and be the new home of the Houston Astros and Washington Nationals.

      To hit a home-run with your personal finances contact Robert here today      .

  • 6 Ways Olympians Can Make a Living

    Since USA professional athletes have been permitted to compete in the Olympics there’s been a misconception that athletes get rich from competing.  In some countries yes, however, in the USA only 50% of our track & field athletes ranked in the top 10 earn over $15,000/year.  The following are some ways athletes are getting compensated:

    1. The USOC (United States Olympic Committee): Although the USOC takes in millions annually, they only pay the athletes $25,000 for gold, $15,000 for silver and $10,000 for bronze.  insurance, New York, life insurance, financial servicesFor US Olympians, gold medals come with a heavy tax bill on $25,564 of income/gold medal.  This covers both the $25,000 received plus the value of the actual gold estimated at $564.
    2. Corporate sponsorship: U.S. corps spend millions sponsoring “the team” which is why athletes are wearing logos.  The catch here is you have to win and be famous.  There are 15,000 athletes competing in 26 sports for only 1,000 medals so it’s difficult to get sponsorships and easy (Ryan Lochte) to lose them.  This is different from endorsement deals.
    3. Special funds: USA swimming pulls in over $100million per year (from 300,000 membership fees) and gives a $3,000/month stipend only to swimmers who rank in the top 16. 
    4. Government:  In some countries (like Cuba) the government takes care of Olympic medalists for life.  Not so here in the USA.
    5. Foundations and private funding:  In wrestling for example, LivingTheDreamMedalFund.com raises money that pays out $250,000, $50,000 and $25,000 for gold, silver and bronze medals respectively.
    6. Large Corporate Partnerships:  Some large US corporations partner with US athletes allowing them to work part-time while training.

    It’s clear here in the USA that Olympians are doing it for the “love of sport”.  There’s a bill pending house approval (Senator Schumer introduced it and it has passed the Senate) that would eliminate taxation on income received by Olympians.  This would greatly benefit a Simone Biles for example, who will owe over $40,000 in taxes for her 5 medals won.

  • 6 Facts Nobody Knows About The 2018 Trump Tax Reform

    The Trump Tax bill has affected individuals and businesses both in the USA and abroad.  It’s still being dissected.  Check out these facts:

    1. Eliminates health ins tax penalty in 2019: The 12/22/2017 tax bill signed into law eliminates the tax penalty for individuals who fail to maintain (MEC) minimum essential coverages as of 1/1/2019.
    2. The Employer Mandate still applies: Applicable large employers (ALE) will continue to face penalties for failure to offer affordable coverage providing minimum value to their full-time employees.
    3. Individual Mandate Penalties are still in force in 2018: Individuals who go without health coverage for 3-month or longer in 2018 will still have to pay a penalty (unless they qualify for an exception)!
    4. More options are available for 529 monies: Families can withdraw up to $10,000/year tax-free to use for public, private or religious elementary or secondary school expenses
    5. Home Equity Loans (HELOC’s) may no longer be deductible: HELOCs (home equity lines of credit) and 2nd mortgages are ONLY deductible if used for “substantial improvements” to the home and the combination of the 1st mortgage and HELOC or 2nd mortgage doesn’t exceed the new cap of $750,000. (previously $1.1m)
    6. Pro athletes can no longer deduct agent fees in 2018: The NFL explains it by saying since players pay agents directly and agent fees are not deducted from game checks, they will no longer be deductible under the Trump Tax Reform.

  • 7 reasons New Yorkers should shop homeowners insurance now!

    Hurricane Sandy did $19b of damage to the city in 2012!  Many people (my family included) lost their coastal homes and were shorted 100’s of thousands of dollars from big-name insurance carriers that also raised rates.  We were offered $16,000 for shingles on a demolished $2m+ beach house.  With 520 miles of coastline, NY has more people living in high-risk areas than any city in the USA.  Now there’s a homeowner’s insurance solution, here’s why:homeowners insurance new york disaster

    1. One of our insurance carriers just dropped NYS rates over 30%. Some places in NYC by 38% off of already competitive rates to gain market share!
    2. They don’t care how near or far away you are from the water!
    3. My analyst who tracks this says they are the lowest NY rates he has seen in his 20+ year career!
    4. Product features include liability up to $1mil. Water back-up up to $25,000 on the policy.  Home system protection (covers the pipe that runs under the ground from home to city line).  90% of big name carriers don’t cover it.  Equipment breakdown coverage includes mainly hot water heaters, boilers, and central AC units that malfunction due to blackouts.
    5. All new clients will keep low rates the 2nd year as the carrier will revise new business rates based on their market share and loss ratios.
    6. This carrier will also work very well for 2 family homes as long as they are owner-occupied.
    7. The ONLY homes they won’t write are; Flat roofs, non-owner occupied and Fire Island homes. Rates are slightly credit driven.

    The time to shop is NOW, don’t wait for your renewals!

  • 5 reasons seniors should sell their life ins. policy in 2018

    5 reasons seniors should sell their life ins. policy in 2018

    Many seniors are creatures of habit and are holding onto their large life insurance policies with expensive premiums that they may no longer need or afford.  Based on the new Tax Law Reform, 2018 could be the best time to sell their policy.

    1. The Estate Tax has been increased: The tax exemption has been raised to $11,200,000 per person, $22,400,000 per couple hence the policy may no longer be needed to pay any estate tax.
    2. Tax law change on selling life insurance policies: People who sell their policies will now receive the same treatment as those who cash surrender their policy. In many cases, selling the policy can net 2-4 times more than the current cash value!
    3. 20+ settlement companies bid on your policy: We have access to 20+ settlement companies that will bid on buying your policy for much more than the current cash surrender value.
    4. Term policies can also be sold: Even term policies with zero cash value can often be sold for cash.
    5. Receive money instead of paying expensive premiums: Many seniors are on a fixed income and struggle to pay premiums. This way they can receive a lump sum of cash and no longer have to pay those premiums which should improve their quality of life.

    Reach out to us to find out how it works and to obtain a no cost, no obligation quote on how much money you, your parents and/or grandparents can get by selling their policy!

     

  • 6 Reasons Insurance Companies Know Everything About You

    6 Reasons Insurance Companies Know Everything About You

    You may want to think twice what you tell your doctor on your next visit.  Medical records are now online.  When you sign a HIPPA (health ins privacy) form to apply for life, disability and/or a long-term care policy the following information is available with a few mouse clicks:

    1. On-line medical records: Insurance companies can and will be able to see what medications you take by doing a pharmacy scan.
    2. Driving record: Companies can pull up an MVR (motor vehicle report) which can show drunk driving etc.
    3. The MIB: Medical Information Bureau: This isn’t the Men in Black movie, LOL. Companies can see whenever you apply for other insurance policies whether or not you take them.
    4. Criminal Record: Databases are linked and they can check on your prior arrest records.
    5. Memberships: Companies can see what type of groups, clubs and or organizations you belong to.
    6. Social Media: Some companies will look you up on Facebook, LinkedIn, etc to see what type or person you are and your public posts.
  • Six Tips to Save on Dry Cleaning

    Six Tips to Save on Dry Cleaning

    Proctor and gamble did a study in 2008 and found the average woman spends over $1500/year in dry cleaning. Men who wear suits daily would spend more than half that amount. Can these bills be eliminated, probably not. Reduced, for sure!

    1. save on dry cleaningTake off your work clothes and hang them up immediately upon returning home from work. Let clothes “air out” for a few hours before putting them back in a cramped closet.
    2. For men, wear a washable t-shirt under shirts and jackets to prevent perspiration stains.
    3. For semi-wrinkled clothes either use Downy wrinkle releaser or actually hang garments in your bathroom while showering, close the door and let sit for 10 minutes.
    4. Search and clip coupons and choose a dry cleaner who is located close to your home.
    5. Launder versus Dry Clean. Many dress shirts do not require dry cleaning but can be professionally laundered and pressed instead for a reduced price. Check your tags and try laundering items that don’t require special treatment. Your shirts will look just as good.
    6. Travel tip: when on a business trip leave shirts/suits/dresses in the dry cleaning plastic when folding in half to pack. This will reduce most if not all of the wrinkles from movement in flight etc.

  • 10 Dirt Cheap Places to buy a Vacation Home

    This article looks at places both in the USA and around the world where you can purchase a home and live in relative luxury on a poor man’s salary.

    1. Argentina:  Argentina has been a tourist mecca for generations and is a great producer of wine.  A 1500 sq, foot home can be had for about $140,000.  The cost of living is a fraction of anywhere in the US and it has the amenities that many Americans and Europeans expect.

    2. Mexico: Americans have known for a long time how inexpensive Mexico is as many Americans relocate, vacation and get medical treatment there.  For about $700/ month you can find a nice 1-2 bedroom home near a tourist area including internet and sightseeing.life insurance, New York City, financial services

    3. Quito, Ecuador: Some great things about Quito is that it’s already an ex-pat US destination and is uses the American dollar for currency.  There are places along the coast which are similar to US places.  Also, food is so cheap that it costs less to eat all meals out in restaurants than it would cost to go to the supermarket and cook for yourself at home.

    4. Cambodia:  Cambodia is super cheap!  A full-time housekeeper costs about $120/month.  A 4 room villa with a pool costs about $600/month and about $7/day to eat all meals out in most areas.  About $20,000 will buy you a nice 3 bedroom home on 1 or more acres.

    5. Vietnam: Vietnam has become a tourist destination.  You used to have to own a business to buy property however those rules have been relaxed.  For $25,000-$50,000 you can find a nice home in or near a resort area.  Food is very cheap as is labor so you can have a cook when there.  Also, because of demand, it’s easy to rent the house out.

    6. Thailand: Thailand is a legendary tourist destination for food, nightlife and amenities.  Like Vietnam, it’s easier to buy property now.  For $30,000 you can buy a high-rise condo with amazing views.  For $60,000 you can buy a 2-3 bedroom home with a beautiful garden and pool.

    7. Bulgaria: Bulgaria is stunning from the ancient architecture to the surrounding hills and countryside.  For $1,000/month you can live in comfort and like a king for $1500/month.  The average monthly salary is about $800 and for $20,000 you can buy a very nice home.

    8. Budapest, Hungary: Hungary is one of the oldest and architecturally stunning places in the world.  A $1,000 sq. foot home with some land runs about $90,000.  The people are kind and hospitable and there are about 50,000 ex-pats living in Budapest alone.

    9. Mississippi, USA: Mississippi offers comparable prices to Budapest and Bulgaria.  A plush 3 bedroom house can be had for $80,000.  The north offers music and jazz while the south has beaches and gambling.  There is great weather year round and cultural diversity.

    10. Louisiana: Louisiana offers a combination of southern charm and Cajun flavor.  You can buy a fully renovated historic 1800’s home for under $100,000.  There is fantastic wildlife and you can hire a cook for half the price of eating out.

  • 5 Tourist Traps to Avoid

    There are so many fabulous places in the world to visit. Avoid the hype as these 5 tourists traps that are a waste of time!

    1. Stonehenge, Wiltshire, England: This mysterious site may date as far back as 3000 bc. More than 1.3 million visited in 2014. It takes hours to get there and you can longer go into thetourist-traps central ring of stones. It’s a ton of tour buses with tourists walking in circles aimlessly!
    2. Mall of America, Bloomington, Minnesota: Receives over 40 million visitors from around the globe each year. Expect heavy crowds and over-priced goods. Unless you are going on rides it’s a waste of time!
    3. La Boca, Buenas Aires, Argentina: It’s a brightly painted neighborhood that attracts tourists looking to take tango lessons and photograph crayola-colored houses. It’s basically 1 fake-looking street painted to get tourists to visit the over-priced coffee shops, bars and restaurants.
    4. Walk of Fame, Hollywood, California: It’s comprised of 15 blocks of Hollywood blvd and marked by commemorative stars in the sidewalk. Seedy sin city type crowds tourist-trap-linkedin-Dec42015with hookers, dirty streets and solicitors everywhere.
    5. Manneken Pis, Brussels, Belgium: Manneken Pis depicts a naked boy urinating in a fountain. For some this 17th century sculpture is a work of art. For most this is a small statue that’s a waste of time!Are you prepared for your financial journey? Avoid the traps by contacting Robert today.