Key Takeaway: An annuity is a contract between an individual and an insurance company, where the individual pays a lump sum or series of payments in exchange for a guaranteed stream of income for a specified period or for life. An annuity can affect social security benefits depending on the type of annuity and the…
Key Takeaways: Missouri taxes Social Security benefits: Social Security benefits are subject to taxation in Missouri, but the state has specific rules that determine how much of the benefits are taxable, based on the recipient’s income. Individuals can minimize Social Security tax in Missouri: Strategies for minimizing Social Security tax include deferring benefits, spreading out…
Key Takeaway: Social Security’s processing time for the medical portion takes an average of 3-5 months at the initial application stage, 3-5 months at the reconsideration stage, and 12-18 months at the disability hearing stage. The processing time may vary depending on the complexity of the case and the workload of the Social Security office….
Key Takeaway: A Social Security Card is an important government document that contains a unique, nine-digit number used to track individuals’ lifetime earnings and guarantee access to government benefits. In Jackson, MS, there are three ways to get a Social Security Card: by visiting the local Social Security Administration (SSA) office, by applying online through…
Key Takeaway: Notify the pension provider of the death: To initiate the process of claiming for pension benefits, you need to notify the pension provider of the death. This can be done by contacting them through phone, email, or post. Provide necessary details: While notifying the pension provider, you need to provide the necessary details…
\n Key Takeaway: \n \n A commodity investment refers to investing in raw materials or products which can be traded on a commodity exchange. These investments provide an opportunity to benefit from price fluctuations of these commodities in the market. \n Commodity investments can be broadly classified into four types: agricultural, precious metals, energy, and…
Key Takeaway: Understanding Social Security Death Benefits for a Child: Social Security Death Benefits can be provided to a child if one or both parents have passed away. These benefits are designed to provide financial support to the child until they reach adulthood. Eligibility Requirements for Child Social Security Death Benefits: Children must meet certain…
Key Takeaway: Colorado state taxes Social Security benefits: Unlike some states that don’t tax Social Security benefits at all, Colorado does tax these benefits. However, the tax is based on a sliding scale, so the more income you have, the more you’ll pay in taxes. The amount Colorado taxes Social Security benefits varies depending on…
Key Takeaway: Winning the lottery can impact your Social Security benefits: Depending on the amount of your lottery winnings and your age, you may see a reduction or complete disqualification of your benefits. This is determined by the Social Security Administration’s calculation of income and assets. Taxation of lottery winnings varies by state: While lottery…
Key Takeaways: Stewardship of resources: The Bible encourages responsible use of financial resources, including investments, with the understanding that they are ultimately gifts from God. Wise investment strategies honor God and allow for future generations to benefit as well. Avoidance of greed and materialism: Investing with the intention of hoarding wealth can lead to a…
Key Takeaways: Amending the Investment Advisers Act through the Dodd-Frank Act was necessary to provide broader regulatory oversight on investment advisers. The Dodd-Frank Act expanded the definition of “investment adviser” and created a new registration regime for private fund advisers to better protect investors and increase transparency. The Dodd-Frank Act had a significant impact on…
Key Takeaway: Always try to contact the investment company first and attempt to resolve the issue directly. Find the company’s contact information and explain the problem clearly when you reach out. If you’re unable to get a satisfactory resolution from the investment company, research relevant regulatory authorities. File a complaint with the appropriate authorities and…