Key Takeaway: Tax-deferred investments allow individuals to defer paying taxes on the interest and earnings from their investments until a later date, typically retirement. This allows for potential growth of investments as the earnings are reinvested without being taxed immediately. Types of tax-deferred investments include 401(k)s, individual retirement accounts (IRAs), annuities, and certain types of…
Key Takeaway: Investment benchmarks are used to evaluate the performance of an investment portfolio by comparing it against a set of standardized criteria, such as a market index or asset class benchmark. There are three main types of investment benchmarks: market index benchmarks, asset class and style benchmarks, and manager universe benchmarks, each with its…
Key Takeaways: Location is a crucial factor to consider when buying investment property in Australia. Investing in cities like Sydney and Melbourne may offer higher returns due to their strong market trends and growth potential. Before buying investment property, it is important to consider the property type, neighbourhood, and existing amenities in the area. The…
Key Takeaway: Facebook may ask for your social security number as a way to prevent fake accounts and verify your identity when registering or making changes to your account. Sharing your social security number with Facebook poses risks such as identity theft, scams and frauds, and unintentional disclosure of sensitive information. If you are uncomfortable…
Key Takeaway: Required Documents in TN: To obtain a social security card in Tennessee, you need to provide a birth certificate or passport as proof of citizenship and age, and a government-issued ID as proof of identity. Application Process: You can apply for a social security card in TN either online or in person. The…
Key Takeaway: The Representative Payee Program enables individuals to manage Social Security benefits on behalf of beneficiaries who are incapable of managing their own finances due to physical or mental limitations. To become a representative payee, an individual must meet certain eligibility requirements, including passing a background check and providing proof of identity and financial…
Key Takeaway: Gale would likely prioritize understanding Alex’s risk tolerance and investment horizon before providing investment advice. These factors play a significant role in determining the appropriate investment mix and diversification strategy. To determine Alex’s risk tolerance, Gale may ask key questions such as the amount of money Alex is willing to lose and the…
Key Takeaways: A Social Security Disability Review is a periodic evaluation of a beneficiary’s disability status to determine if they still qualify for benefits. It is essential to maintain accurate medical records and to be prepared to answer questions about your condition. Maintaining good communication with your treating doctors and providing additional information, such as…
Key Takeaway: Understanding pension benefits is important: It’s essential to know the types of pension plans, eligibility requirements, and factors that determine pension benefits after a parent’s death to make informed decisions about claiming benefits. Eligibility for pension benefits varies: Not everyone is entitled to claim pension benefits after their parent’s death. Factors such as…
Key Takeaway: Retired military personnel are entitled to receive a pension for their years of service. The pension amount is determined by the length of their service and the salary they received while in active duty. Military pensions are subject to federal taxes but may also be subject to state taxes, depending on the state….
Key Takeaway: Earned income, which is income from wages, salaries, and self-employment, can reduce social security benefits if earned before full retirement age. Unearned income, such as investment income and pensions, can also reduce social security benefits, but only if it exceeds certain thresholds. To minimize reduction in benefits, delaying social security benefits, adjusting retirement…
Key Takeaway: Retirement pension in the USA is calculated based on the average of the highest 35 years of earnings, with a maximum benefit of $3,148/month for those who retire at full retirement age. Eligibility criteria for retirement pension includes earning a minimum of 40 credits, with one credit earned for every $1,470 of earnings,…