General Retirement Planning

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Are Legal Residents Who Work Entitled to Social Security Benefits?

Social Security pays retirement and disability benefits to qualified applicants, including non-citizens who are legal residents of the U.S. The agency issues Social Security numbers, which by law are required in order to work and earn wages in the United States. Applicants for ...

Are Retirement Accounts Insured Above $100,000?

You already know that it's a good idea to put aside some of your money for your retirement years. But after you socked away all that retirement money, you might wonder how safe it really is. Whether your retirement accounts are insured, and for how much, depends on where your ...

Military Retirement Benefits for Ex-Spouses

In 1981, the Supreme Court ruled that military retired pay could not be regarded as joint property and divided during a divorce. Following that ruling, Congress passed the Uniformed Services Former Spouses Protection Act, or USFSPA, which allows state courts to divide military ...

Can I Change an IRA Owner With Power of Attorney?

When a financial account holder authorizes someone to act on his behalf using a power of attorney, it is critical the proper language be used. However, regardless of how the power of attorney is worded, all individual retirement accounts remain the sole property of the maker, ...

What Documents Will You Need for a Retirement Planner?

Americans are living longer, and planning for retirement that can last 30-plus years is becoming a necessity. Planning gives you the ability to decide how you want to spend your retirement, prepare for worst-case scenarios, and maximize your retirement dollars. Retirement ...

Social Security Benefits for a Non-Citizen Widow

Social Security provides retirement or disability income to those who have worked in the United States for several years or their spouses, dependent parents and children. You don't have to be a citizen to collect Social Security benefits earned by your deceased spouse. You do ...

How to Calculate a Final Salary Pension

A pension that is based on your final salary is usually a defined benefit plan. Contributions to the pension plan were made by your employer while you were working. Some plans require contributions from employees as well. The plan defines how pension benefits will be disbursed ...

Variable Annuity Problems

A variable annuity is an insurance contract designed to provide a regular source of income. The contractual agreement is between you and the sponsoring insurance company. You purchase your variable annuity, and the company invests your money in your choice of financial vehicles, ...

What Are the Dangers of Taking Social Security Early?

In 2007, millions of people on the leading edge of the baby boom generation reached age 62, the minimum age for collecting Social Security retirement benefits. Since then, millions more baby boomers have reached age 62 and confronted the question of whether to take a reduced ...

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