Key Takeaway: Know your pension plan inside out: Take the time to understand your current pension plan, determine the estimated pension income, and identify any gaps in it. Explore alternative pension options: Consider contributing to personal pension plans, investing in real estate and stocks and bonds to diversify your pension income. Maximize your pension benefits:…
Image credits: retiregenz.com by Adam Washington Processing delays Social Security Payment Processing – What Causes Delays? Social Security payment processing can be delayed for various reasons. One of the most common causes is incorrect information in your account, such as an incorrect bank routing number or a wrong address. Another cause of delay is a…
Key Takeaway: A savings account is a better investment than a checking account for long-term savings because of higher interest rates and more disciplined saving habits. Savings accounts also offer the benefit of earning interest on savings, making them a smarter choice for those looking to build wealth over time. Despite some limitations such as…
Key Takeaway: One Rank One Pension (OROP) is a policy that ensures that retired military personnel of the same rank and length of service receive the same pension, regardless of the date of their retirement. The implementation of OROP has been a long-standing demand of the Indian armed forces and was finally implemented by the…
Key Takeaway: DLI, or “Date Last Insured,” is an important factor in determining eligibility for Social Security benefits. It refers to the date when a worker’s earning record is no longer sufficient to support disability or retirement benefits. To determine DLI, Social Security considers the total number of work credits a person has earned and…
Key takeaways: Hackers can use your Social Security Number (SSN) to commit different types of identity theft, namely financial, medical, and criminal identity theft, which can have severe legal and financial consequences. The most common methods used by hackers to steal SSNs are phishing scams, data breaches and social engineering, which rely on tricking or…
Key Takeaway: Non Deposit Investment Products are a type of investment that does not involve holding cash in a bank account or other deposit account. Types of Non Deposit Investment Products include Equities, Fixed Income Securities, Mutual Funds, and Exchange-Traded Funds (ETFs). Each type has unique characteristics and potential risks and benefits. Investing in Non…
Key Takeaway: A $1,000 investment in Microsoft in 1986 would be worth approximately $1.2 million today, taking into account stock splits and dividends. Microsoft’s stock growth has been driven by factors such as the success of Windows and Office, as well as strategic acquisitions and partnerships. The future outlook for Microsoft’s stock growth remains positive,…
Key Takeaway: Auto enrolment pension is a scheme that requires employers to automatically enroll eligible employees into a workplace pension plan and make contributions for them. This aims to increase pension savings and ensure financial security for employees in retirement. The eligibility for auto enrolment pension scheme is based on age and earnings requirements. Employees…
Key Takeaway: Social Security number is often required by landlords for verification of identity: Landlords ask for your Social Security number to ensure that you are who you say you are and to confirm that you have no criminal history. This helps protect both the landlord and other tenants in the building or complex. Social…
Key Takeaway: To be eligible for a pension if born in 1961, individuals need to meet age and contribution requirements, as well as other eligibility factors that may vary by country or state. The age requirement for receiving a pension for those born in 1961 may range from 60 to 67 years old, depending on…
Key Takeaway: Investment banks recruit from various sources, including campus recruitment, referrals, and online applications. Campus recruitment is a popular method, where investment banks visit college campuses to hire top talent. Referrals from current or former employees also play a significant role in investment bank recruitment. Investment banks look for candidates with academic excellence, relevant…