Key Takeaways: ER Pension is a retirement plan provided by an employer to its employees that offers financial security during retirement. ER Pension typically requires certain eligibility criteria, including age and work experience, and is calculated based on pensionable service and average salary. There are two main types of ER Pension Plans: Defined Benefit Plan…
Key Takeaway: Age, health, and financial situation are important factors to consider when deciding when to claim social security benefits. Women have longer life expectancies and may benefit from delaying their benefit claim to receive higher monthly payments later in life. Spousal benefits and options for divorced or widowed women should also be considered when…
Key Takeaway: Understanding taxable social security income: Not all Social Security benefits are taxable, so it is important to know the types of benefits that are taxable and those that are not. Steps to calculate taxable social security income: The provisional income of the taxpayer determines the portion of the Social Security benefits that are…
Key Takeaway: Stocks investment is a way to invest in the ownership of a company, with potential for high returns over time. By buying stocks in a company, investors can share in its profits and growth. Investing in stocks also provides diversification for investors, reducing risk by spreading investments across different industries and companies. While…
Key Takeaway: Understanding the basics of social security is crucial to getting the most out of the social security book. This includes knowing your eligibility for benefits, how benefits are calculated, and age requirements for claiming benefits. Maximizing social security benefits involves careful planning and strategy. Knowing when to claim, maximizing spousal benefits, and coordinating…
Key Takeaway: Cap rate is a crucial metric for real estate investors to assess the profitability of a potential investment property. It allows investors to compare different properties based on their relative value and potential return on investment. The cap rate formula is the property’s net operating income divided by its market value. This formula…
Key Takeaway: Your Social Security Number (SSN) is a unique identifier that is linked to your personal information and can be used by identity thieves to steal your identity. Searching your SSN on Google can lead to online identity theft, data breaches, and your personal information being exposed to potential attackers. Preventive measures such as…
Key Takeaway: The amount of SSS pension you will receive depends on several factors, including your age and contributed period, as well as the type of SSS pension you qualify for. To qualify for SSS pension, you need to meet certain age and contributed period requirements. The minimum age of retirement is 60, and you…
Key Takeaways: You need to work for a minimum of 10 years in Canada to receive a pension. There are different pension plans available in Canada such as Canada Pension Plan (CPP), Old Age Security (OAS), Quebec Pension Plan (QPP) and Registered Retirement Savings Plan (RRSP). To receive maximum pension benefits, it is important to…
Key Takeaway: Understanding profit sharing is crucial for a fair and equitable distribution of profits among investors. It is important to have a clear understanding of the concept and the principles behind it. Identifying investments and determining their values are key steps in dividing profits based on investment. Investors should consider different types of investments…
Key Takeaway: Identifying the breach: If you suspect that someone has your social security number, start by checking for signs of unauthorized activity. Look for unexplained charges or withdrawals on bank statements, credit card bills, and other financial accounts. Contacting the authorities: Report the breach to law enforcement and the Federal Trade Commission (FTC). They…
Key Takeaway: An investment club can be dissolved due to lack of interest, financial losses, or disagreements among members. It is important to identify the primary reason for dissolution to ensure a smooth process. Legal requirements for dissolving an investment club include filing articles of dissolution, notifying members and creditors, and distributing club assets among…