Key Takeaway: Military service can add credits to your Social Security benefits: Active duty service members who have served after September 1950 may be eligible for extra Social Security credits to increase their retirement or disability benefits. Veterans can also receive credits for their service during certain wartime periods. Military service members can receive disability…
Key Takeaways: Congressmen are eligible for a pension after serving for at least 5 years. The calculation of the pension benefits is based on the member’s years of service and average salary during their highest 3 years of service. The congressional pension system has faced criticism for being overly generous and unsustainable, leading to proposed…
Key Takeaway: Derivative investments are financial contracts between two parties that derive their value from an underlying asset, such as stocks, bonds, commodities, or currencies. They are used for speculative, hedging, or arbitrage purposes. There are different types of derivative investments, such as options, futures, forwards, and swaps, each with their unique characteristics, risks, and…
Key Takeaway: Direct deposit is a convenient and secure way to receive Social Security benefits. It eliminates the need for paper checks and allows for automatic deposit into your account on the payment date. To be eligible for direct deposit, you must have a bank or credit union account and provide your account information to…
Key Takeaways: The blackout period for Social Security is a time when the Social Security Administration suspends electronic access to your account, usually for maintenance and updates. The blackout period typically lasts for two to three days, but may extend up to a week or more in some cases. To prepare for the blackout period,…
Key Takeaway: Unrealized gains and losses from investment securities refer to the value changes of securities that are still held and not sold. They are recorded as such until the securities are actually sold, at which point they become realized gains or losses. Investment securities are financial instruments such as stocks, bonds, and mutual funds…
## Key Takeaway: Key Takeaway: Setting up an SSAS pension is a great way to take control of your retirement savings: An SSAS pension allows you to invest your pension funds in a wide range of assets, including property, and gives you greater flexibility and control over your retirement savings. To set up an SSAS…
Key Takeaway: It is important to notify Social Security when you turn 65 in order to receive your benefits on time. Failing to do so may result in delayed or missed benefits. Turning 65 makes you eligible for Social Security benefits and Medicare enrollment. It is important to understand the benefits and enrollment process to…
Key Takeaway: Social Security credits determine eligibility for Social Security benefits: Social Security credits are earned by working and paying Social Security taxes, and they determine eligibility for retirement, disability, and survivor benefits. Earning Social Security credits requires a certain amount of income: A person can earn up to four credits per year, based on…
Key Takeaway: The Social Security Number (SSN) is a crucial element in savings bonds ownership, and it matters whose SSN is on a savings bond. The name and SSN on a savings bond determine the bond’s legal owner, and only the owner can redeem or cash in the bond at maturity or before. SSNs also…
Key Takeaways: Investment sales in commercial real estate involve buying or selling properties with the goal of generating profits through capital appreciation, rental income, or both. There are different types of commercial real estate properties involved in investment sales, each with their unique characteristics and factors affecting their value. The investment sales process involves several…
Key Takeaway: ERS pension refers to the pension scheme offered by the Educational Retirement Services (ERS) to employees of academic institutions and educational organizations. The ERS pension provides retirement benefits and financial security to employees in their retirement years, and is a crucial component of the compensation package offered to employees in the education sector….