Key Takeaway: Grossing up social security for FHA refers to the process of adding a certain percentage to the borrower’s monthly social security income to qualify for a higher loan amount in FHA loans. To be eligible for social security gross up, the borrower must receive social security income and the lender must follow FHA…
Key Takeaway: Social Security benefits may be suspended for various reasons, such as exceeding the income limit or not reporting changes in circumstances. Understanding the reasons for suspension is key to knowing how to reinstate benefits. The process to reinstate Social Security benefits involves contacting the Social Security Administration (SSA), submitting required documents, and attending…
Image credits: retiregenz.com by James Washington Methods for Finding Someone’s Social Security Number Discovering someone’s Social Security Number? To do so, you must know which methods are out there. In this section, we will share three approaches for tracking down a Social Security Number. These are: Public Records Search Credit Report Request SSA’s Social Security…
Key Takeaway: Setting up automatic investments on Vanguard can save you time and help you achieve your investment goals: By automating the investment process, you can ensure that your money is being invested regularly and consistently, without having to remember to manually invest each month. It’s easy to set up automatic investments on Vanguard: Simply…
Key Takeaway: CALPERS Pension is a retirement plan offered by California Public Employees’ Retirement System, which provides retirement, disability, and death benefits to eligible public employees and their families. Eligibility for CALPERS Pension varies depending on factors such as age, membership status, and years of service. Generally, public employees who work for a CALPERS-participating employer…
Key Takeaway: Untaxed pension refers to a pension that is paid without any tax being deducted from the payments, which can result in significant tax savings for retirees. There are two types of untaxed pensions: untaxed element pensions, where the whole pension payment is untaxed, and partially taxed element pensions, where only a portion of…
Key Takeaways: An SPV investment is a way to pool funds from multiple investors to start a business, acquire assets, or invest in a particular project. It offers limited liability protection and potentially lucrative tax benefits. SPV investments can take on many forms, such as real estate, film production, or venture capital. Each type carries…
Image credits: retiregenz.com by James Washington Taxable Amount of Social Security The Taxable Portion of Social Security Benefits For taxpayers receiving Social Security benefits, it is important to understand the portion of the benefits that will be taxed. The taxable amount is determined by a formula that takes into account the taxpayer’s total income and…
Key Takeaway: An Investment Policy Statement (IPS) is a document that outlines an individual or organization’s investment goals, objectives, and strategies to achieve them. It serves as a guideline for decision-making in managing the investment portfolio. Having an IPS is important because it provides a clear plan for investment decisions and helps align investment strategies…
Key Takeaway: A social security card is a crucial form of identification that is required for many transactions and services, and individuals are allowed to have only one valid card at a time. If an individual exceeds the limit of social security cards, the excessive cards become invalid and do not hold any legal value,…
Key Takeaway: Obtaining Social Security Disability can be a difficult and lengthy process: It requires meeting both medical and non-medical eligibility requirements, gathering required documentation, and submitting the application. Additionally, there is a waiting period for approval and potential appeals process. Meeting the medical eligibility criteria is crucial: Applicants must have a medical condition that…
Key Takeaway: Investment banks provide financial services and expertise to corporations, governments, and other entities seeking to raise capital or engage in mergers and acquisitions. They play a vital role in the global economy by facilitating the flow of capital and promoting economic growth. Investment banks differ from commercial banks in that they do not…