Key Takeaway: The first step in the Social Security process is determining your eligibility requirements, which include age, disability, and work history. To apply for Social Security benefits, you will need to collect necessary documentation, such as birth certificates, tax returns, and medical records. When filing for benefits, you will need to choose a filing…
Key Takeaway: Apple Pay asks for your social security number to comply with government regulations and prevent fraud and identity theft. It may also be used to verify your identity for credit approval when you apply for an Apple Card. Apple Pay has several security measures in place, including two-factor authentication, data encryption, and Face…
Key Takeaway: Investing in an annuity can provide a guaranteed stream of income for the rest of your life, but it may not be the best option if you have a short life expectancy or want more flexibility with your money. Making a one-time big purchase, such as paying off debt or buying a home,…
Key Takeaway: Investment syndicates are a group of investors who pool their resources to make investments that may not be accessible otherwise. Syndicates provide a way for individual investors to access larger investment opportunities and increase diversification of risk. There are two main types of investment syndicates, closed and open syndicates. Closed syndicates have a…
Key takeaway: L&I Pension is a retirement benefit provided to eligible employees of the State of Washington who have worked for a certain number of years and have become disabled on the job. The pension amount is calculated based on a formula that takes into account the employee’s length of service, average final compensation, and…
Key Takeaway: The Social Security contribution limit for 2013 was $113,700: Social Security contributions are deducted from an individual’s paycheck to provide retirement, disability, and survivor benefits. The contribution limit for 2013 was $113,700, which means that an individual’s earnings above this threshold were not subject to Social Security taxes. The limit is determined by…
Key Takeaway: The National Committee to Preserve Social Security and Medicare advocates for the protection and strengthening of Social Security and Medicare programs, ensuring these vital resources are available for future generations. The organization provides public education and advocacy efforts to inform the public, policymakers, and the media about the importance of Social Security and…
Key Takeaway: Types of pension plans include defined benefit plans, which provide a guaranteed retirement income based on a formula, and defined contribution plans, which rely on employee and employer contributions and investment returns. After termination, options for pension plans may include leaving the pension in the current plan, rolling over the pension into a…
Key takeaways: O/A/O stands for “Own Account, Account of Another, Own Account.” It means that the Social Security check is being deposited into an account where the payee has authorization to access the funds for their own use or for the use of someone else. There are several reasons why O/A/O may be used on…
Key Takeaway: Land is an attractive investment option due to its finite nature, making it a tangible asset that appreciates over time. Investing in land offers potential for passive income, as well as flexibility for development and use, making it a versatile asset to hold. Land can also be used as a hedge against inflation,…
Key Takeaways: Volatility is a measure of how much the price of an investment fluctuates over time, and risk refers to the likelihood of losing money on that investment. High volatility often results in high risk, while low volatility may lead to lower risk. Managing volatility and risk requires diversification, meaning investing in a variety…
Key takeaway: Investment Consulting Firms provide professional advice and guidance to clients regarding their investment portfolios to help them reach their financial objectives. Services offered by Investment Consulting Firms include investment strategy development, investment manager search and selection, and performance measurement and evaluation. Working with an Investment Consulting Firm offers benefits such as access to…