Key Takeaway: Metal Social Security Cards were issued from 1936 to 1943: These cards were made of aluminum and were issued to individuals who applied for a Social Security number. They were a symbol of the government’s commitment to the Social Security program, and were a durable form of identification. The advantages of Metal Social…
Key Takeaway: Understand Capital Gains Tax on Investment Property: Capital gains tax is the tax paid on the profit from the sale of an investment property. Understanding how it works and how it is calculated is important to minimize tax liability. Factors That Affect Capital Gain Tax: Holding period, property improvements, and primary residence exemption…
Key Takeaways: Conducting market research is essential to finding investment opportunities. This involves gathering information on market trends, analyzing consumer behavior, and identifying gaps in the market where there is potential for growth. Attending networking events and conferences provides opportunities to meet other investors, entrepreneurs, and industry experts, and learn about new and emerging markets…
Key Takeaway: Pension adjustment is the factor used to determine the maximum amount of retirement savings that can be put into a registered pension plan each year. The factors affecting pension adjustment include contribution rates, maximum pensionable earnings, and pension adjustment reversals. Pension adjustment can impact both pension plan members and employers, and it is…
Key Takeaway: The social security tax rate is a tax paid by both employers and employees to fund the Social Security system in the United States. In 2010, the social security tax rate was 6.2% for employees and employers, up to a wage base limit of $106,800. To calculate social security tax, multiply your gross…
Key Takeaway: Social Security funding primarily comes from payroll taxes and contributions from self-employed individuals, both of which are collected by the government and deposited into the Social Security Trust Fund. The allocation of Social Security funds goes towards providing retirement, disability, and survivor benefits to eligible recipients. The majority of funds are used for…
Key Takeaway: The best investment you can make depends on your personal financial goals, risk tolerance, and time horizon. It is important to do your research and understand the different types of investments available. Financial investments, such as stocks, bonds, mutual funds, and ETFs can offer good returns if chosen wisely and can help diversify…
Key Takeaway: Investing in a business or making a large financial investment is a viable option for obtaining Canadian citizenship. There are four main investment options available, including the Federal Business Immigration Program, Quebec Immigrant Investor Program, Provincial Nominee Programs, and Start-up Visa Program. To be eligible for Canadian citizenship through investment, applicants must meet…
Key Takeaway: Having a pension plan is crucial to ensure financial security during retirement. Without a pension, individuals may struggle to make ends meet and face difficulty in maintaining their lifestyle. Not having a pension plan can lead to dependency on social security benefits leading to financial instability. These benefits may not be sufficient, leading…
Key Takeaway: Before buying investment bonds, it is important to consider factors, including the credit rating of the issuer, the maturity date, interest rates, and tax implications. These factors will help in selecting bonds that match the investor’s goals. Researching available options is necessary to make an informed decision about buying investment bonds. Once bonds…
Key Takeaway: Blended fund investment is a type of investment that combines stocks, bonds, and other securities, providing investors with diversification and a mix of growth and income. There are different types of blended funds, including balanced funds, asset allocation funds, and target date funds, each with its own investment strategy and risk level. The…
Key Takeaway: Qualifying for Social Security Benefits requires meeting the age and work credit qualifications. Individuals must be at least 62 years old, or disabled, or a surviving spouse at least 60 years of age. Applying for Social Security Benefits can be done through either an online application or paper application, which includes providing proof…