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Retirement Planning

~5300 answered questions
Parent Category: Personal Finance
Strategies of saving money in order to meet one's financial goals upon retiring. This can be through the use of 401(k), IRA and/or pension plans to name a few.
%DETAILS% Can you get state assistance? I'm not sure what Medicaid is, sorry if it's state assistance. Some options are looking into a free clinic. They have low to no fees depending on your income. Or going to a doctor that will work with you on a payment plan during and after they baby is born.…
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Oh Boy! There is no one answer here. The average national cost at a private hospital is $3000. That does not include pre- and post-natal care. Nor does it include any other factors. Such as C-sections, premature delivery, extended stay for a variety of reasons before and after delivery, and so on. T…
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Planning for a Wedding If you have the time, then the ideal time-line to start planning your wedding would be 12 to 18 months before the actual event.You may think that this time-line is quite a lot before you would actually expect to start planning a wedding, but in reality it is not. If time perm…
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That would be covered under the terms of your policy. In general that is what supplemental, (secondary) insurance is primarily for. Most "supplemental" plans pay the 20% that Medicare didn't pay only AFTER seeing an "explanation of benefits" statement--i.e. proof that Medicare paid their part. I…
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Email me your info and Ill try to help ya in the right direction.
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ssa-custhelp Section 207 of the Social Security Act (42 U.S.C. 407) protects Social Security benefits from assignment, levy, or garnishment. However, the law provides five exceptions: **child support and tax debt and other govt. debts.** The Social Security Administration's responsibility for protec…
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the 18 yr. old must apply for financing to buy the car of his/her dreams and obligate themselves to paying the payments .
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Private Disability Insurance You would have to review the policy that you purchased for the benefit period. Relating specifically to individual disability insurance coverage - Yes, you should be eligible for disability benefits after retirement age. You should review the parameters of your covera…
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No. The Social Security Administration only pays disability benefits if they determine you have a qualifying condition, are completely disabled, and are expected to remain disabled for at least one year. If you are capable of working or engaging in "substantial gainful activity" (SGA) regardless of …
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Insurance companies negotiate rates for services at the best advantage to them. Companies with larger groups get the best rates becaues they have more economic leverage. Medicare is the 900 pound gorilla in the insurance world. So the short answer is no, it is not fraudulent. The reason is each insu…
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Yes. All you have to do is send in a cancellation letter or send it to your insurance agent and have them send to the HMO company. Once they receive it, they will then have medicare reinstated as your primary health care. Maybe get in contact with your agent and see about a medicare supplement polic…
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Yes. Part A is for Hospital, Part B for Doctors. To get Medigap Coverage you must have both.
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Where you covered under an Employer Group or Individual Plan?If Employer Group - they would be eligible for COBRA - If Individual - then just tell the Insurance Company to take you off.
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Check this page http://www.steveshorr.com/law_relating_to_insurance.htm for links to various insurer's sites on this subject
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No. Find the company you want coverage from and then see what they will do. Recent legislation prohibits Insurance Companies from using your Social Security # in your ID card.For more info see www.SteveShorr.com
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Yes, If medicare pays more than the secondary insurance allows for a charge, the secondary insurance pays nothing. The balance is written off to a contractual allowance that is agreed upon between the provider of service and the insurance company via contract.
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If you are a US citizen living in the US, marrying a British citizen won't affect your Medicare benefits. That only becomes a problem if you move out of the country.
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If the person has a valid SS number he or she must have at one held legal immigrant status.The best option is to speak with an immigration attorney or someone who is knowledgeable in the immigration laws that pertain to the immigrant's specific situation.In lieu of such, information concerning perso…
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I agree with the answer below but would like to add my 2cents.If you two were still married but not living together and she had "your power of attorney", then you should be calling to make payment arrangements. You could fight the judgment --get your own attorney, start putting any and all paperwork…
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No - medical bills covered by medicaid cannot be collected from the patient. Provide them another copy of your medicaid card for that time of service or contact medicaid and have them contact the hospital that is harassing you.
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Follow this link to the official Social Security Administration website. This particular page gives instructions on how to get a replacement card if your original one has been lost or stolen.You can get the form needed from your nearest SSA office. Or download the application for replacing a SS card…
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Yes. It is irrelevant whether or not a SSN is included in a persons account info. One of the reasons a SSN is used, is for tax purposes. Many consumers are not aware that when a creditor settles with a debtor for a lesser amount than is owed. The difference can be considered income. And the debtor w…
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Yes. Paying off debts is always in your best interests. Not necessarily. Unless the debt is substantial, it's far better to pay off the debt with money outside of a retirement account. Otherwise you are sacrificing your retirement and years of compound interest that can't be replaced. Your retirem…
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If it is the error of the organization's paperwork, write them with the necessary information for the account and inform them of the mistake. If you deliberately gave them a false number or some else's, you could have a problem. It would be easy to have one number transposed or wrong. But pretty har…
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Sometimes, yes. While many items on your credit report are tied to your social security number, some entities, such as courts and collection agencies can report information to the three major credit bureaus without having to know the customer's social security number.
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No one can seize a bank account without due process. SSD benefits by Federal Law are 100% exempt from creditor attachment. You must inform the court and provide evidence that the account has only SSD benefits and not other funds. Even so, all states have a set of exemptions that also includes a spec…
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A collection agency cannot seize a bank account period. ALL SS benefits are exempt from creditors. A collection agency cannot threaten to take your property nor do they have the power to do so. They can inform you that the account is being referred to a collection attorney who can pursue legal actio…
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Yes. When you sign the application, you affirm that all info is true. Obviously, it isn't, because it isn't your correct SS#.
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The person in charge of the affairs of the patient should contact the creditors and inform them of the situation. Most nursing.care facilities have social service people who can assist with this action. There is nothing a creditor can do in this situation, unless the accounts are joint. In that case…
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All SS payments, whether to the beneficiary or survivors are exempt from any attachement by creditors. A secured loan, however is entirely different. The lender can foreclose on property if it is defaulted on. The death of the borrower (or one of the borrowers) is irrelevant. There could be insuranc…
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Maybe. It is difficult without knowing the state of residency to give an opinion. Every state has Homestead and other exemptions that prevent property from being attached and sold by creditors. Many states have statutes that specifically protect property of senior citizens and/or disabled persons. S…
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No. All SSI, SS, SSD, etc are exempted from garnishment/levy by creditors. As is much of a consumer's property, personal and real. Consult the laws of the residency state, to find out what property is exempt from creditor attachment.
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No. Federal and/or state benefits are exempted from creditor attachment.
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One option is to retain legal counsel, who will then contact the creditors, informing them of the persons financial status. If a creditor files suit the debtor then files a list of their entitled exemptions, (SS benefits, homestead exemption, etc). In some cases a creditor may try to levy the accoun…
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All Social Security and VA benefits are exempt from creditor actions. In regards to homestead protection, that is determined by the laws of the state of residency. Some states such as Florida have unlimited exemption amount, others have as little as $3,000. A lien can in some cases be placed against…
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%REPLIES% Answer If a person is judgment proof filing bankruptcy would not be needed. The reason this is done in the majority of the cases is (1) To protect the consumer in case sometime in the future they acquire nonexempt assets, such as an inheiritance. (2)To stop creditor/collector phone ca…
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All Social Security benefits are exempted under Federal law from attachment in any form by creditors. It might be beneficial to consult an attorney to see if you need to file any form of BK. It might be that state and/or federal laws render your property exempt from creditor action. You can find a l…
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Assuming that the annuity in question is a "deferred" annuity (that is, that it is not already providing regular annuity payments), the answer depends upon whether you're over 59 1/2 or not. If you're not, any distributions from that annuity will be taxable as Ordinary Income AND subject to a 10% pe…
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You cannot refinance a mortgage if you don't already have a mortgage, so how did you get a mortgage if you are an illegal immigrant with no social security number?   You should attain legal status first.
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Any good mortgage broker should have access to lenders that will allow a buyer to obtain a tax ID number and use that in place of a social security number. There are two specific lenders that specialize in this type of mortgage loan.Mark Saliens Senior Loan Officer
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Creditors can sue the debtor to recover monies owed, what property they can attach depends upon the laws of the state in which the debtor resides. All Social Security benefits and most pension benefits are exempt from creditor attachment. For the majority of consumers the homestead exemption is the …
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The question is unclear. If a security agreement is not completed and signed by the debtor, their is no security and a UCC alone will not. If you know/believe there was a security agreement signed and cannot locate or get access to it: a UCC-1 that has the "stamp" or other certification on it that t…
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For certain the party involved will need the assistance of an attorney who specializes in Social Security issues. The complexity of dealing with a government agency can be intimidating and frustrating to say the least. The other option is to use the appeal process, the guidelines for which can be fo…
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Answer The amount that the policy holder pays on each claim. Either a set amount like $10 for a MD visit or a percentage like 20%. The next question you might ask is - what if I have a $1,000,000 claim, do I have to pay $200,000. No, most policies have an "out of pocket maximum" of $2,000 to $5,0…
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Social Security and the end of the Depression No. No economists or historians believe Social Security helped end the Great Depression, although some Marxists might believe this. Here is more input: Social Security provided an income for retired people.  Before it, retirees would live with …
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Answer Not automatically; However, a "green card" (lawful permanent residency for aliens) makes someone elligible for a "right to work" social security number. One must request it at a Social Security office. Answer A green card does not make you eligible for a "right to work" social security…
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Sounds like that would work to me. Medicare and Social Securities Site - where you can ask the question directly. http://www.medicare.gov/ContactUs.asp IMHO I would just turn in the claim and see what your spouses insurance does with the claim. Just be honest when filling out the forms. Absolutely…
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There is no requirement to have or use a social security number to live or work in the United States. The Social Security Administration will admit this to you IN WRITING if you write them via snail mail, or email them at http://www.ssa.gov The number IS required for EMPLOYMENT, but that is a term S…
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Answer The importance is in practicality, to me. Retiring a loan means that I have more discretionary income to invest. Since my income comes periodically, the investment would be on a average cost basis (rarely are prices the same over time, and I would be buying a few at a time), so you could m…
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No, you are not required to participate in the Social Security System.That said, most, but not all employers, require their employees to participate in the system, and therefore if you choose to work for that particular company you need to apply for a Social Security Number and use it in their emplo…
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YES, the IRS CAN garnish your Social Security Retirement benefit! This is a relatively new program, though it was apparently authorized under legislation from several years ago. If your monthly benefit is more than $750, they may garnish 15% of your monthly benefit for taxes that are at least six mo…
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???????????gov. claims that i have 30,000.00 worth of annunities , i would'NT know to look for them.. any advise. tks Robert Morrison 1-812-936-4832
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Some lenders might be willing to accept the person. However, many will not, simply because it is a very bad idea for a person on a fixed and perhaps limited income to take on extra financial responsibility. The other reason would be that if legal action such as a lawsuit became necessary for the len…
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UK National Insurance NumbersThe last letter refers to the order you are drawn up in case of a war. A=the first lot, D=the the last lot.Nonsense!! A NI number is issued at around the age of 16 and stays with you for. The previious post implies that a 70 year old with a A will get called up. Women ar…
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If there was no insurance coverage through any company prior to the illness, or onset of symptoms, no coverage will be granted for that illness, and any charge related to it because it will be considered pre exsisting condition. If the transport is related to urgent reasons, and there was coverage p…
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Answer NO. What part of the term ILLEGAL don't you get? Answer If the father is legally here (he has a "green card"), he must apply first to immigration for a "green card" or visa for his child. Then the child can get a Social security number.
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Answer Not suppose to be able to but some states and/or agreements allow them to if your late on a payment check the wording of the orignial agreement and your states local laws You should never give any financial info or info of any kind to a collection agency. They have no legal rights what …
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Reply to "If you receive a one-time setI am presently apling for SS Disability & have an aturney working on a workers comp setlement.SS has informed me that if I receive a setlement from workers comp I must by law inform them & it will affect my SS payments. I live in S.C.(USA)
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No, ALL Social Security benefits are protected by both federal and state laws and are totally exempt from creditor actions. A creditor has other options than garnishment, if the person owns real property, although for most seniors any property will likely be protected under state laws.
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It just depends  I live in Arkansas and I just moved from Kansas, from living there all my life. In both of these states, I have talked to medicaid workers and they have all told me MEDICAID DOES PAY if the women has given birth 2 times or has been pregnant for a total of 3 times. In most case…
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Probably not. Insurance companies like sterile people, because it means less children for them to support.-DJ Craig
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Answer Yes. Check the plan brochure for how much and what percentage.
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the numbers represent different data, such as your dob; state it was issued inetc, etc.  Do you mean specific to just the info revealed from the number itself? Like the first three numbers designate the state you were born in, etc.Or do you mean...if someone knows your social security number, …
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No, there are no websites that offer social security numbers. The only way to obtain your social security number is to take your birth certificate and other documents to a social security office.
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Nothing if your daughter is under the age of eighteen then that's when you can do something but if she over eighteen there's noothing you can do just deal with it you can go and visit them and find out what going on but you can force her to come back because she already settled and it sounds like sh…
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All SS benefits are exempt from private creditor action (benefits may be garnished for back alimony, child support, unpaid federal taxes and amounts due other federal agencies), most pension/retirement plans are also protected, although it is possible to garnish a portion of certain types. In regard…
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Answer No, it is assumed that one spouse will care for the other during illness or troubled times. That is the basis of the "sickness or in health..for richer or poorer" that is included in the traditional wedding vows. Even if one did actually take such vows, the presumption is still morally and…
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Yes when they put your family members social security number in the machine to check you out their name and information will come up as the person your using and what they use social security numbers for is to check your background and if they have a felony or whatever you might not get the job and …
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Depends on individual preference.I like Stocks, Stocks and more Stocks. Historically over the long term (20+ years) they have outperformed every other type of investment including real estate. The National Association of Investment Clubs (www.better-investing.org) has lots of good information.On the…
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no ,this is the first step they going to ask in the application form, if u dont have a soc security number they going to reject your application even u have a h4 visa.   The above answer is not necessarily true. If a alien has a valid visa, the state of Minnesota will issue a diver's licensse…
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There is no US law requiring social security numbers to get a credit card. Banks do it out of convenience so they don't have to obtain extra information to give you a card. You can read more about this at CampusCapitalNetwork.com and sign up for a card without Social Security Number if you want. Som…
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JEWS proposed the federal "social security" scheme in 1933.Townsend was a socialist. He joined forces with Father Charles Coughlin and Huey Long to form the National Union of Social Justice. In 1936, Townsend was prosecuted by the U.S. Department of Justice for contempt of Congress.
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NO, you have to turn in any credit cards and include the credit card debts in the bankruptcy. You can't pick and choose what debts you are going to include.
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PVannuity=C*[(1-(1+i)^-n)/i]PVannuity=100*[(1-(1+.06)^-3)/.06]PVannuity=$267.30To answer using a financial calculator enter the following:n = 3I/Y = 6FV = 0PMT = -100Compute PV
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To get Medicaid you have to have an income of less then $1800 a month and assets worth $2000 or less. Houses arent supposed to count but you should check into it.medicaid.gov then choose a state, click eligibility then more eligibility it will be listed
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Answer Credit card companies can't touch your bank account. They can threaten and do many other things like garnish your wages (if you have a job), send you to collections, etc, but they can't take money from your bank account. Answer Creditor judgments can be executed as bank account levie…
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If your husband passed away and for instance owes $20,000 to $30,000 in debt then it is up to you to pay off that debt whether your signature is on the credit cards or not. Any debts owing must be paid out of the Estate. If he owned a car (you have your own) the car will be sold and hopefully the ho…
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Answer It depends entirely on what you like. If you have a lot of money and want to retire somewhere warm, a lot of people go to the Las Vegas area, Florida or Scottsdale Arizona. If you're looking for somewhere inexpensive to live that is also warmer in the winter, there are some communities ar…
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Annuity death proceeds do not pass by will or state intestacy laws. Like life insurance, employer-sponsored retirement plans and IRAs, annuities pass to the beneficiaries named. If there is no named beneficiary, then proceeds, at death, will pass to the estate of the owner, (and would then pass by w…
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Answer Perhaps. It depends on whether you have enough non-Social Security income to be required to file an income tax return. Also, for 2007 and, possibly, 2008, you may qualify for an economic stimulus rebate, but only if you file a return. You can find a form on the internet or at the library.…
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Go to www.reportenantdebt.com For about $15 you may report tenant debt to Experian, Equifax and TransUnion.If you know the ss# then I don't see why not.YES!! Join the National Association of Independent Landlords (=NAIL!) and Nail them! It's only $69.99 and you can submit late payments, bounced chec…
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Most pension benefits or at least a portion thereof are exempt from creditor attachment. All SS benefits including SSD and SSI are totally exempt under federal law from judgment action.
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it depends, how bad is the asthma? the eneral rule for receiving ssd (social security disability) benefits is that the illness or disease is what stops you from being able to work.
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If both of the parents have a joint legal custody arrangement, you have to give the noncustodial parent that information. If you have sole custody of the child, you do not have to share that information with the noncustodial parent.
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It is assumed that you are inquiring about another person's records. You cannot access another person's records unless you have authority pursuant to a durable power of attorney, a medical power of attorney, a court appointed guardianship or other court order or the patient has signed a release auth…
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who gives loans for small businesses with tax id numbers for lines of credit
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Well their is something wrong here. Life insurance goes to the beneficiary. If medicare is involved you have a different story. Life Insurance Policy Beneficiary This is a more than common situation, and from my personal experience, (depending on your situation) this is the best way to handle i…
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Yes. Social Security is a federal program administered by the states, but the rules are the same regardless of your state of residence. Persons who qualify for SS benefits may live where they choose and not lose their eligibility.
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yes, it is a form of restitution as they will probably have a registered office in the country that they wish to take court action. The reason for doing this while on benefits is that they can receive and order to state that payment is still due until you are to get into osition to make paymnets. Li…
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Answer Medicare will usually pay for services only if they are considered medically necessary. This would clearly not include cosmetic surgery.
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Answer You can obtain the forms needed at the local SSA office or call 1-800-772-1213 7 A.M. to7 P.M. (EST) Monday thru Friday. The best option is to visit Social Security Online to fill out a questionaire to determine what benefits the interested party might qualify for, and to download al…
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Answer No. All Social Security benefits (SS,SSD,SSI) are protected by federal law and are exempt to creditor action. This does not apply to federal or state tax arrearages or court ordered child support. - - - - - - - - Generally no. HOWEVER - they can be garnished for payment of debts owed to t…
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Very definitely. Not only the SSA. but the entire Federal government. That policy has been in effect for years.   It's more complex than that: federal agencies are prohibited from having race conscious policies, but all fed agencies admit that their hiring of black workers far exceeds the rac…
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Answer No minimum income amount is required but the debtor must have a regular source of income and qualify under the maximum amount of secured and unsecured debt guidelines.
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I do believe that the house can be kept. As long as all her physical money is gone, the state will pay the rest of her stay.
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