Key Takeaway: Signing up for Social Security does not automatically enroll you in Medicare. You must take additional steps to enroll in Medicare and choose coverage options that fit your needs. Eligibility for Medicare is based on age or disability status. Individuals who are at least 65 years old or have certain disabilities are eligible…
Key takeaway: The Possessive Investment in Whiteness refers to the ways in which white individuals and institutions have benefited from and continue to benefit from systemic racism and white supremacy. This investment has been developed and maintained through historical processes such as slavery, colonialism, and structural racism, and has resulted in the perpetuation of inequality…
Key Takeaway: Social security taxes can be reduced by delaying your benefits as it will increase your future payouts and lower your taxes. Another way to reduce taxes on social security is by withdrawing money from tax-advantaged accounts, which can help reduce your taxable income. Limiting your income through tax deductions like charitable contributions and…
Key Takeaway: The social security loophole refers to the various strategies that can be used to maximize benefits or avoid penalties within the social security system. These strategies are legal but may be considered unethical by some. The two main types of social security loopholes are “file and suspend” and “restricted application.” These loopholes can…
Key Takeaway: REITs are a type of investment vehicle that allows individuals to invest in real estate without physically owning property. REITs are comprised of a portfolio of properties and securities, with income generated from rental income and property appreciation. There are two main types of REITs: equity REITs and mortgage REITs. Equity REITs invest…
Key Takeaway: The Morgan Stanley India Investment Fund, Inc. is a closed-end fund that invests in companies in India. A stock symbol is a unique series of letters or characters that identify a specific publicly traded company on a stock exchange. The symbol is important for investors to easily identify and track the performance of…
Key Takeaway: The best investment option for Angela depends on her risk level, investment goals, and time horizon. It is important that Angela thoroughly assesses these criteria before selecting an investment option. Some of the investment options available to Angela include stocks, bonds, real estate, and mutual funds. Each of these options has varying levels…
Key Takeaway: NDIS Property Investment is a safe and lucrative investment option for investors looking for long-term, secure rental income. Investing in NDIS properties provides high rental yields due to the strong demand for housing among people with disabilities, resulting in steady rental income for investors. NDIS Property Investments are backed by government support and…
Key Takeaway: A registered investment advisor is a professional who provides investment advice and manages money for clients in exchange for a fee. To become a registered investment advisor, one must meet certain qualifications, including passing an exam and registering with the Securities and Exchange Commission or state regulatory agencies. Hiring a registered investment advisor…
Key Takeaway: Pension exclusion refers to the exclusion of a portion of an individual’s pension income from taxation, allowing for a reduction in tax liability. Pension exclusion varies by state and may have different eligibility criteria and limitations, such as income and asset limits. Pension exclusion offers advantages for low-income pensioners, including an increase in…
Key Takeaway: Assess your financial situation: Before retiring without a pension, it is crucial to calculate your expenses and determine your potential income sources to create a realistic retirement plan. Create a retirement plan with alternative retirement accounts and diversified portfolios to secure a sustainable income source. Consider retiring later or working part-time to increase…
Key Takeaway: The Social Security Amendments of 1983 were sponsored by both Democratic and Republican lawmakers, reflecting a bipartisan effort to address the program’s growing financial woes. Key sponsors of the amendments included Democratic Representative Dan Rostenkowski, who chaired the House Ways and Means Committee, and Republican Senator Robert Dole, who helped negotiate the final…