JULY ISSUE Smart Money News and Facts You Should Know!

JULY ISSUE

Smart Money News and Facts You

Should Know!

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Amazing Cancer Stoppers

Every year, more than 1.4 million Americans are diagnosed with cancer. Nearly half of all Americans eventually will get the disease--and about 25% of them will die from it. But there is a powerful way to reduce your risk of getting cancer. Specific nutrients and foods can help prevent or correct cellular, hormonal and other imbalances that may lead to cancer. The supplements mentioned here are available at health-food stores and some supermarkets. FISH OIL ? The most common nutritional deficiency in Americans is low Eicosapentaenoic Acid (EPA). It is one of the omega-3 fatty acids in the oil of fatty fish.

EPA helps prevent cancer by improving cell membrane dynamics--the ability of each cell to receive hormones and signals from other cells while absorbing essential nutrients and expelling waste products.

VITAMIN D ?People living in Boston have, on average, double the risk of breast, colon and prostate cancers, compared with residents of San Diego. Why? Many scientists think it's because Bostonians, like other northern, don't get enough vitamin D, which is produced when the skin is exposed to sun. Vitamin D is one of the most powerful anticancer nutrients. During the summer, get 15 minutes a day of midday sunshine with no sunscreen (without burning) on your face and bare arms. The body stockpiles vitamin D in the liver, so you're set for the rest of the year.

VITAMIN C ?In a report published in American Journal of Clinical Nutrition, 33 of 46 studies showed that vitamin C protects against cancer. Cancer feeds on blood sugar (glucose)--and lowering chronically high blood sugar is crucial to preventing cancer. When you get enough vitamin C, you cut in half the amount of blood sugar that enters cells.

GREEN TREE--literally hundreds of studies have proven that green tea and its various extracts can prevent and, in some experiments, reverse cancer. These extracts work by different mechanisms, among them apoptosis ("programmed cell death"). In other words, green tea orders cancer cells to commit suicide. Drink three eight-ounce cups of green tea a day. If you don't like the taste of green tea try capsules. Patrick Quillin, PhD, RD clinical nutritionist in San Diego, CA

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A $300,000 IRA at 4% can pay out in distributions as much or more than $1 million over three generations, if

the IRA is properly structured.

Want to learn more about your 401 (k) and how to stretch an IRA Please call our office at

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Thoughts for the Month

"My idea of a superwoman is someone who scrubs her own floors." Bette Middler

"Never run away from a gun. Bullets can travel faster

than you can."

Wild Bill Hickock

Never do wrong...when people are watching." Mark Twain

"Never bet on baseball." Pete Rose

More Interesting Facts you Should Know!

Opportunities... Best Ways to Cut Taxes Before Year-End

There are a number of ways to reduce taxes and increase after-tax income before and during retirement years. Here's what you can do now, before year-end....

Convert a traditional IRA to a Roth IRA. Income from a Roth IRA is tax free and isn't counted as income when computing income tax due on Social Security benefits.

Contrast: Interest from tax-exempt bonds and income from traditional IRAs and other retirement plans is counted when computing tax on Social Security benefits.

Important: Roth IRAs, unlike other retirement accounts, aren't required to make annual distributions after age 701/2. You can keep funds in a Roth as long as you wish to earn tax-free investment returns.

Note: The value of a traditional IRA (minus nondeductible contributions) is included in income when it is converted to a Roth -- but after retirement, you may be in a lower tax bracket, thus reducing the tax. Also, starting in 2010, the current rule that limits IRA conversions to persons with adjusted gross income (AGI) not exceeding $100,000 will not apply -- so anyone will be able to convert a regular IRA to a Roth IRA at that time.

Keep funds in tax-favored retirement accounts as long as possible. How to do it...

Continue working after age 701/2 to get more from a 401(k). That way, you don't have to take annual distributions that normally are required (provided you don't own more than 5% of the business). This lets you keep your funds in the 401(k) longer and make more deductible contributions to it -- increasing future wealth.

Roll over funds from an employer's qualified retirement plan to an IRA after retiring. This lets you control the timing of IRA distributions, subject to IRS limits, and usually will let you leave funds in the IRA longer than possible in an employer plan. After funds are rolled over into a traditional IRA, it can be converted to a Roth IRA if you wish.

Reallocate your retirement portfolio carefully. With long-term capital gains and dividends now taxed at no more than 15%, you may want to keep stocks and capital gain assets in a taxable account, while holding taxable bonds and assets that produce ordinary income in tax-deferred accounts, such as traditional IRAs and 401(k)s.

Get tax-free funds from life insurance. If you own a cash-value policy you no longer need (the mortgage is paid off, children are grown, etc.), you can borrow against the cash value. Such borrowing is tax free and will be repaid from the policy benefit -- you never have to make a cash repayment.

Get tax-free funds from homes. Plan to use the exclusion for up to $250,000 of gain from a home sale ($500,000 on a joint return) that's available if you own a home and use it as your primary residence for two of the five years prior to the sale. It can provide funds to live on if you move to a smaller home and/or one in a less-expensive area during retirement.

Sidney Kess, CPA

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This news is all about you...

Best Exercise to Burn Fat

What is the best exercise to burn fat? Any exercise that gets your heart rate into your targeted heart range. If you want to lose weight, you need to exercise hard enough to increase your pulse rate enough to burn fat more efficiently.

The exercises that get your heart rate into your targeted heart range will increase your metabolism and that's what burns fat. So if you find the best exercise to burn fat you'll lose weight.

Losing weight has more health benefits other than just making you look better. By losing 10-15% of your body weight you can reduce your risk of heart attack, reduce your cholesterol level, and get healthier overall. So how do you start?

Your first hurdle that you will need to overcome is commitment. If you want to lose weight, then you have to commit to a good cardio workout routine.

This means that you will have to exercise at least three to four times a week for 30 minutes to 1 hour. If you commit to one month of regular exercise, you will find that at the end of that month you will have more energy, be in a better mood and you will probably have lost a few pounds. Commitment is one of the keys to finding the best exercise to burn fat.

Mix it up. Keep your exercise routine exciting and vary it so you will keep interest in your workout routine. Finding an exercise that burns fat is not that difficult.

Any exercise can burn fat if you get your heart rate in the targeted zone. This can include running, walking, hiking, and playing basketball, spinning, interval training, or anything else that you can think of.

Make it fun and you will enjoy it and have a much better chance of sticking to it. Changing your routine around will help you to stay interested and committed. Make sure that you work your entire body for maximum results.

A full body exercise workout can include adding some weight training into your workout. If you enjoy walking and jogging, then you could add some weight training for your arms and shoulders to make it more of a full body workout.

Or you could alternate running and jogging days with weight training days. Alternating exercise is a great way to ensure that you work your entire body.

If you can find a few exercises that you enjoy doing, then you can alternate them to make a workout routine that you will love. Think about what you enjoy doing and then work to create the best exercise to burn fat for you.

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How to add up to $500,000 to Your

Retirement Fund -- Tax-Free!

Okay, so maybe you haven't saved up $1 million for your retirement.

Here's a scary fact for you:

A retiree holding mutual funds with an annual expense ratio of 1.5% and trading costs of an additional 1.0% is likely paying far more to his mutual fund manager than to the Internal Revenue Service.

It's time to stop funding your mutual fund manager's nest egg with YOUR retirement cash!

Don't panic. The extra cash you need might be as close as your backyard.

You can use your empty nest to fill your retirement coffers -- tax-free. Buy a smaller house and turn the equity in your old house into retirement savings.

When you sell your home, a single person can take up to $250,000 in profits tax-free. And certain married couples filing a joint tax return can take up to $500,000 tax free.

Even if you invest that money in two of the safest investment vehicles available (a CD or tax deferred Annuity) you could earn approximately 5% or more on those house profits.

That's an extra $25,000 in your wallet every year. Not to mention the extra cash you'll get from reduced property taxes and utility bills.

Not ready to move yet? Consider selling your home to your children and renting it back.

If your children don't want the house, consider a reverse mortgage. A home worth $200,000 would produce a lump sum advance of about $96,000, depending on your location.

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Thank You! Thank You!

Thanks to YOU the word is spreading. Thanks to all of my clients and friends who graciously referred me to your friends and neighbors last month!

Please give our office a call if you would like to know "How to cut or even eliminate your Social Security Tax and would like to increase your retirement income by 20% to 30%."

Just call our office for additional information on building a solid retirement.

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THE PRICE WAS RIGHT

You've heard people talk about how much things cost back in the "good old days"--heck, you might even remember them yourself. Talk

about nostalgia...check out these prices.

IN 1910: All expenses-paid trip to Bermuda for nine days: $37.50 Bottle of Coke: 5 cents. Imported spaghetti: 12 cents a box. Cigarettes: 10 cents a pack Wage for postal works: 42 cents an hour.

IN 1920 Life Insurance premium: $16.40/yr Chocolates: 89 cents/lb. Eggs 64 cents/dozen. Public school teacher's salary: $970/yr. IN 1930 Christmas tree light set (eight bulbs): 88 cents. Electric toaster: $1.00. Motor oil: 49 cents/gal. Washing machine: $58.00

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