Key Takeaway: A Social Security Number (SSN) is a unique 9-digit identifier assigned to US citizens, legal permanent residents, and certain categories of foreign nationals. The primary purpose of an SSN is to track individual earnings and facilitate access to social security and government benefits. US citizens and legal permanent residents are eligible for an…
Key Takeaway: As real interest rates rise, desired investment falls since the cost of borrowing increases, making it less attractive for businesses and individuals to invest. The investment demand curve illustrates the inverse relationship between interest rates and desired investment, with higher interest rates leading to lower investment and vice versa. Factors influencing investment decisions…
Key Takeaway: Starting an investment club offers benefits such as collective investment, sharing knowledge, and reduced costs. It is an excellent way to pool money, learn about investments, and build a portfolio with others who share similar goals. To start an investment club, it is essential to define the club’s objectives, decide on the club…
Key Takeaways: Having a pension at 40 is important for a secure retirement: Starting early and contributing regularly to a pension plan can help ensure financial stability during retirement. Determining the appropriate pension amount requires assessing current financial situation and estimating retirement expenses: This involves calculating retirement income, understanding existing pension plans, and reviewing expected…
Key Takeaway: One option for paying employees without a social security number is to use an Individual Taxpayer Identification Number (ITIN) and file taxes using form W-7. This requires the employee to apply for an ITIN and for the employer to obtain an Employer Identification Number (EIN) from the IRS. Another option is to use…
Key Takeaways: There may be multiple possible causes for the Social Security website not working, including technical issues or maintenance updates. During a website outage, certain Social Security services may be unavailable to beneficiaries, including online account access and applications. Beneficiaries can still access Social Security information through alternative methods, such as by phone or…
Key Takeaways: Investment books offer valuable guidance for beginners: Reading investment books can provide a solid foundation for individuals looking to begin investing. Books offer a well-organized structure and expert advice, helping readers make informed decisions. The best investment books are clear, actionable, and informative: The best investment books provide clear and concise information in…
Key Takeaway: The social security office in New York is located at 123 William St, New York, NY 10038. It is conveniently accessible by public transportation. There are various types of social security services available, including retirement benefits, disability benefits, and survivor benefits. Additionally, the office offers assistance with applying for Medicare. To schedule an…
Key Takeaway: Establishing paternity is crucial for qualifying for Social Security survivor benefits. This involves confirming the biological connection between a child and the deceased parent. There are several ways to establish paternity, including providing biological evidence, relying on the legal presumption of paternity, or voluntarily acknowledging paternity. The steps to establishing paternity may involve…
Key Takeaway: Replace a Social Security card to protect your identity: If your Social Security card is lost, stolen, or damaged, it’s important to get a replacement as soon as possible. This can help prevent identity theft and protect your personal information. Follow the requirements for getting a replacement card: To get a replacement Social…
Key Takeaway: Pension debt is a result of poor funding policies and inadequate investment returns that lead to a shortfall in the amount of pension benefits owed to current and future retirees. There are different types of pension debt, including unfunded liabilities and underfunded plans, which vary in severity and impact on retirees and governments….
Key Takeaway: Social Security Survivor Benefits provide financial assistance to the surviving dependents of a deceased worker who was eligible for Social Security benefits. To be eligible for Social Security Survivor Benefits, the surviving dependents must meet certain criteria, such as being a spouse or child of the deceased worker and meeting age or disability…