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Retirement Planning

Cost of Living Allowance (COLA)

"Welcome, students. Today, we'll be discussing the concept of Social Security benefits and its annual adjustments. As you may know, these adjustments are made to keep pace with the rising cost of living, also known as the Cost of Living Adjustment or COLA. This ensures that the benefits received by retirees and disabled individuals maintain their purchasing power over time. Let's delve deeper into this crucial aspect of the financial world."

Age Rule

In order to contribute to a Traditional IRA, it is important to note that an individual must be under the age of 70 ½ for the entire year. This is a crucial rule to keep in ...

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Coverdell Education Savings Account

A tax-advantaged savings account, formerly known as the Education IRA, that was introduced through the Taxpayer Relief Act of 1997 for the sole purpose of covering qualified...

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Qualified Retirement Plan

It is designed to provide retirement benefits to employees. A retirement plan, whether Defined Benefit or Defined Contribution, is a crucial component of financial plannin...

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Social Security

Social Security is a government program that offers benefits for disability, death, and retirement to eligible individuals. All income is subject to Social Security tax, whi...

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