Key Takeaway: Social Security 211 is a service that provides information and assistance related to Social Security benefits and programs. One of the major benefits of Social Security 211 is the quick and easy access to information, allowing individuals to find answers to questions and learn about available benefits. To access Social Security 211, individuals…
Key Takeaway: Social Security Numbers (SSN) are unique identification numbers assigned by the Social Security Administration to US citizens and eligible non-citizens. They are used for a variety of purposes, including employment, tax, benefits, and identification. Employment and tax purposes: Employers use SSN to verify employee identity, report wages and tax contributions to the IRS,…
Key Takeaway: You can access information about your pension by contacting your pension provider, checking your pension statements online, or contacting the government pension service. To contact your pension provider, you can reach out to them via phone or email to request information about your pension. You can also check your pension statements online by…
Key Takeaway: Hedge funds and investment companies both attract investors looking to make a profit through capital appreciation and income generation. Hedge funds and investment companies differ in their legal structure, with hedge funds typically having a limited number of sophisticated investors and investing in high-risk, high-return strategies, while investment companies have a wider investor…
Key Takeaway: Changing investment goals, dissatisfaction with investment performance, and need for liquidity are some common reasons that prompt individuals to close their investment accounts. Closing an investment account involves a few key steps including notifying your financial advisor/investment firm, selling or transferring assets, and completing required paperwork. Before closing an investment account, it is…
Key Takeaway: The state pension is affected by various factors such as inflation, life expectancy, and employment history. These factors determine the pension amount that will be received by individuals in 2022/23. The basic state pension rate for 2022/23 is 137.60 per week, while the additional state pension rate ranges from 1.23 to 176.41 per…
Image credits: retiregenz.com by Adam Duncun Possible Risks of Displaying a Spouse’s Social Security Number on the Card Social Security numbers are unique identifiers that are often used for tax, credit, and medical purposes. Displaying a spouse’s Social Security number on a Medicare card can increase the risk of identity theft and fraud. In the…
Key Takeaway: Angel investments are typically made by high net worth individuals or groups of individuals who provide capital to start-up companies or small businesses in exchange for equity or ownership in the company. Angel investors are also known for providing not just financial support but also valuable mentorship, connections, and expertise to help the…
Key Takeaway: Pension risk transfer refers to the process of transferring pension plan risks from the plan sponsor to an insurer through full or partial pension buyouts or plan terminations. The reasons for pension risk transfer include reducing pension plan risks and transferring pension obligations to insurers, which can provide financial security and stability for…
Key Takeaway: Understanding the overview of Social Security benefits is important for individuals considering applying for benefits or making changes to their current benefits. Eligibility requirements and documents required for application should be carefully reviewed to ensure a timely and accurate application process. Factors such as age, work history, and medical conditions are important considerations….
Key Takeaways: Social Security number flagging allows you to add an alert to your credit report that requires additional verification before credit can be extended in your name, protecting you from identity theft and fraudulent activity. If you suspect your Social Security number has been compromised, you should flag it immediately to reduce the risk…
Key Takeaway: Cost Basis Investment refers to the original cost of an investment, including fees, commissions, and expenses. It is used to determine the capital gain or loss when the investment is sold. There are different Cost Basis methods investors can use, including First In First Out (FIFO), Specific Identification, and Average Cost. The adjusted…