Key Takeaway: A CD Investment is a type of savings account offered by banks and credit unions that offer higher interest rates in exchange for a fixed deposit amount that is held for a set term, usually ranging from 1 month to 10 years. Types of CD Investments include Traditional CDs, Brokered CDs, Callable CDs,…
Key Takeaway: Finding real estate investment deals involves a multi-faceted approach, including scanning realtor listings, checking distressed properties, and utilizing auction sites. These methods can help investors identify potential properties that are undervalued and have the potential for a high return on investment. Networking is a crucial element in finding real estate investment opportunities. Attending…
Key Takeaway: An ITIN credit is a tax credit available to non-citizens who are not eligible for a Social Security Number but have to pay taxes in the United States. Only individuals who are eligible for a Social Security Number and have a valid ITIN can transfer their ITIN credit to Social Security. The process…
Key Takeaway: Social Security Benefit is a government program that provides financial support to eligible individuals, including retirees, disabled individuals, and family members of deceased workers. The calculation of Social Security Benefit is based on two main factors: Average Indexed Monthly Earnings (AIME) and Primary Insurance Amount (PIA). AIME is calculated by adjusting past earnings…
Key Takeaway: Delaying Social Security Benefits can lower the amount of taxable income and reduce the tax burden on social security benefits. Managing other sources of income can reduce the taxable income and lower or even eliminate the tax on social security benefits. This can be achieved through careful planning and investment strategies. Consider moving…
Key Takeaways: The Social Security Card Application Process involves gathering documents and filling out a form. The application can be done in-person at a local Social Security Administration office or online. Where to Apply for a Social Security Card: Applicants can apply for a Social Security Card in-person at a local Social Security Administration office,…
Key Takeaways: Getting a Social Security Card in Utah requires certain documents including a birth certificate, a government-issued ID, and a completed application form. Social Security Administration (SSA) offices in Utah are available for in-person applications. Online applications are also accepted through the SSA’s website. It is important to make sure you have all the…
Key Takeaway: FRA stands for Full Retirement Age, which is the age at which a person is entitled to receive 100% of their Social Security benefits. The FRA is determined by a person’s birth year and can range from age 66 to age 67. The calculation of a person’s Social Security benefit at FRA is…
Image credits: retiregenz.com by Yuval Arnold Birth certificate and social security number of deceased parent To acquire your deceased parent’s social security benefits, you’ll need their birth certificate and social security number. The following table outlines the required documentation in greater detail. Documentation Description Birth Certificate A legal document proving the identity and place of…
Key Takeaway: Social Security disability benefits are greatly influenced by medical records: Medical records provide the foundation for social security disability claims, and they are the primary factor in determining eligibility for benefits. Social Security typically looks back up to two years in medical records: While Social Security’s timeframe for reviewing medical records spans up…
Key Takeaway: An investment of $12,585 with a 3.5% annual interest rate for 5 years will earn $2,210.88 in simple interest. When compared to a standard savings account, this investment would earn significantly more interest over the same 5-year period. Investors should understand the importance of return on investment and carefully consider interest rates and…
Image credits: retiregenz.com by David Duncun Eligibility for ex-spouse benefits If you are divorced, you may be eligible for your ex-spouse’s pension benefits. The eligibility criteria include age, length of marriage, and whether your ex-spouse has started receiving benefits. The Social Security Administration (SSA) provides detailed information on its website about how to qualify and…