Key Takeaway: Investment trusts are investment companies that pool funds from multiple investors to invest across a range of assets or securities, providing diversification and professional management that can help to reduce risk. There are two types of investment trusts: closed-end and open-end. Closed-end trusts have a fixed number of shares traded like stocks, while…
Key Takeaway: A certificate of deposit (CD) is considered a safe investment because it offers a fixed interest rate, low risk, and guaranteed returns. CDs are a low-risk investment because they are insured by the FDIC up to $250,000 per depositor per institution. Additionally, the fixed interest rate enables investors to know exactly how much…
Key Takeaway: Wait times for Social Security phone calls can vary from a couple of minutes to over an hour, depending on the time of day and day of the week. Factors that can affect wait times include the volume of calls, staffing levels, and the complexity of inquiries. To reduce your wait time when…
Key Takeaway: Private equity investment involves investing in companies that are not publicly traded, with the aim of generating high returns. Private equity investors typically take an active role in managing the companies they invest in, with the goal of improving their value and eventually selling them for a profit. Private equity firms typically invest…
Key Takeaways: Social Security is a federal program that provides financial assistance to eligible individuals who have retired, become disabled, or lost a family member. The main purpose of Social Security is to provide a safety net for those who are unable to work due to retirement, disability, or loss of a loved one. It…
Key Takeaway: Understanding 401k investment is crucial: A 401k is a retirement savings plan that offers tax benefits and compound interest. It’s important to understand how it works and to learn about the types of 401k plans available. Managing 401k investment requires setting goals and choosing investment options: Determining investment goals and risk tolerance is…
Key Takeaway: Investment property refers to real estate that is purchased with the intention of earning rental income or for capital appreciation. Examples include rental properties, vacation homes, or commercial property. Reporting investment property on tax returns involves filling out the appropriate forms, such as Schedule E (Form 1040) for rental income and expenses, and…
Key Takeaways: Identifying suspicious activities on financial documents, receiving IRS notifications indicating duplicate tax returns, or getting a notification from the Social Security Administration or financial institutions are signs that your Social Security Number (SSN) may have been stolen. If your SSN is stolen, report to the Social Security Administration (SSA) immediately, contact financial institutions,…
Key Takeaway: A Social Security Number (SSN) is a unique identification number assigned by the US government to its citizens, residents, and temporary workers for tax and other government-related purposes. Some of the states in the United States with Social Security Numbers that start with ‘4’ include California, Nevada, Arizona, and Hawaii, among others. Historical…
Key Takeaway: A Social Security Number is a unique identifier assigned to US citizens and residents for tax and government benefits purposes. It is important to keep this number secure and handle it responsibly. You can find your Social Security Number by checking your Social Security Card, tax documents, or online account with the Social…
Key Takeaway: Virtual Screening Unit (VSU) with Social Security is a system to help prevent fraud and abuse of government programs by using advanced technology to screen applicants and recipients. The VSU works by analyzing data from multiple sources to identify potential fraud and abuse, including comparison with public records, social media, and private databases….
Key Takeaway: Borrowing money to finance an investment refers to the act of taking out a loan or using credit to invest in assets such as real estate, stocks, and businesses. Types of investments that can be financed through borrowing money include real estate, stock investment, and business investment. This strategy can help investors to…