#Old Age Pension Distribution

[townpostin]

MLA Saryu Roy Addresses Community Concerns In Azad Market Visit

Legislator Pledges Swift Action On Drainage And Power Issues The Jamshedpur East representative distributed pension forms and extended invitations to upcoming religious event. JAMSHEDPUR – MLA Saryu Roy of Jamshedpur East conducted an evening visit to Azad Market on Monday, engaging directly with local traders and residents to address their concerns. "We’re committed to resolving the drainage…

[hedgehog-moss]

Update on May 1st protests and how the french goverment handled them?

^ The May 1st protests were pretty violent esp. in Paris; two cops were set on fire (they're ok, one has 2nd degree burns), lots of destruction in city streets, and hundreds of injured protesters. The French gov is sticking to its M.O. of denying any police violence against protesters, emphasising protesters' violence and portraying it as mindless anti-democratic savagery rather than the result of their own anti-democratic policies.

There were more people protesting in the streets on Monday than at any other May Day protest in the past 20 years (by a large margin—7 to 10x more people than usual.) And the numbers are still impressive in terms of this current social movement—there were about 1.2 million people at the first protest against the pension reform in January, 900K at one of the February protests, around 1.1M on March 7 and I think 1.2M on March 23rd... We're in May and there were 800K people in the streets on Monday (using the police's probably low estimate). The first marches earlier this year were peaceful; people started destroying shit in March after the 49.3 (=the gov not letting elected representatives vote on the reform); in the following weeks we saw a brutal escalation of police violence + suppression of just about any means of non-violent protest, which results in more violence.

The vast majority of protesters are still peaceful, but in terms of providing context for the increased violence, well—people protested peacefully, peaceful protests got banned. People banged pots and pans, pots and pans got banned and confiscated. People started a petition on the National Assembly website which got a record number of signatures, the petition was closed before its deadline and ignored. MPs asked (twice!) for a national referendum on the reform to be held, their requests were denied. Electricity unionists cut power in buildings Macron was visiting, now he travels around with a portable generator. Unions tried to distribute whistles and red cards (penalty cards) to football supporters before the French Cup finale last week, so the ones who wanted could use them if Macron showed up (he ended up hiding and greeting the footballers indoors rather than publicly on the stadium lawn); the police prefecture tried banning union members from gathering outside the stadium to distribute these items (although the ban was struck down by the judiciary as it was illegal, like most bans these days...)

Confiscating saucepans was already so absurd it felt like a gratuitous fuck you, but now they're trying to prevent the distribution of pieces of red paper. Cancelling petitions that would have had no real impact anyway. Prosecuting people for insulting Macron. Arbitrarily arresting hundreds of nonviolent protesters to intimidate them out of protesting (guess who's left then?). The French gov is systematically repressing democratic or nonviolent means of making your opinion heard, and when people get more violent they're like "This is unacceptable, don't these terrorists know there are other means of expressing dissent??" Where? This week a 77-year-old man was summoned to the police station and will be forced to take a "citizenship course" for having a banner outside his house that read "Macron fuck you" (Macron on t'emmerde). Note that he would have been arrested (like the woman who was arrested at her home and spent a night in police custody for calling Macron "garbage" on Facebook) but they decided not to only because of his age.

So that's where we're at; on Monday two cops caught on fire (well, their fireproof suit did) after protesters threw a Molotov cocktail at them. (The street medic who tried to help them with their burns ended up getting shot by a cop's riot gun a few seconds later—with French police no good deed goes unpunished!) The media talked a lot more about this incident than about the fact that the cop who got most severely injured on that day (broken vertebrae) was injured by an explosive grenade that a colleague of his meant to throw at protesters (you can see it at the end of the video below). If police with all their protective gear get so badly injured by their own weapons, no wonder the worst injuries have been on the protesters' side. (nearly 600 injured protesters on May 1st, 120 severely, according to street medics.) I'm not including images of these incidents in the video but on May 1st a protester had his hand mutilated by a police grenade + a 17 year old girl was hit in the eye by a grenade fragment, may end up losing it (during the Yellow Vests protests, Macron's first attempt at repressing a social movement, 38 protesters lost an eye or a hand).

What you see in the video: cops charging the front of a march to tear a banner off people's hands then retreating and drowning the street in tear gas when protesters throw paint bombs at them (protesters have umbrellas because of police drones); at 0:30, a journalist saying "They're not even arresting him, just kicking him when he's down—they kicked him right in the face!" then police spraying with tear gas protesters who try to fend them off; at 0:46 when a protester being arrested asks a journalist if he's filming and starts reading out loud a cop's ID number, another cop shoves the journalist and throws him to the ground; at 0:54, an Irish journalist runs away from the police tear gas grenades that you hear going off, at 01:08, the incident mentioned above when a cop drops a grenade he tried to throw, which explodes in his group, breaking another cop's vertebrae. There's a lot more I'm not including, like how CNN said "there's so much tear gas in Paris, our foreign correspondent can barely breathe", how another journalist was hit by a sting-ball grenade (he was also bludgeoned on the head so hard it broke his helmet—even though cops know the people wearing helmets are journalists...), and yet another journalist who was calling out a cop for aiming at people's heads with his riot gun (which is illegal) ended up having the guy aim the riot gun at his head from 2 metres away (getting shot with this "less lethal weapon" from that distance would be lethal.)

All of these videos are from May 1st (most of them from this account monitoring police violence.)

So yeah, nonviolent protests followed by violent police repression and bans of nonviolent means of protesting result in more violent protests. The French government responds by a) pikachu surpris, b) condemning violent protesters and praising violent police to the skies, c) continuing to ban everything they can think of. Confiscating saucepans didn't work but confiscating pieces of red paper will do the trick! Let's prosecute people for bashing or burning an effigy of Macron, because banning symbolic violence always works to prevent actual violence! And this week after the May 1st protests we learnt that the gov is thinking of making street barricades illegal, because that'll definitely solve everything. It's going to be interesting for history teachers to teach students about the 1789 revolution that allowed us to take down an absolutist regime and become a republic, under a government that banned barricades because they see them as terrorist anti-republican structures.

^ Statue symbolising the French Republic (on Place de la République in Paris) dressed with a 'Macron resign' shirt by protesters on May 1st.

[blck-drgn]

I slowly crawl out of my rat hole and drag Pie. The post is dedicated to those who say that she is young. SHE'S PENSIONED, BRING THE SCOOP AND BROOM A woman is 52-56 years old, what do you need from her haha? х) (For those who don’t know, it’s just a joke about age. I hear too often that Piper is very young or looks young :D)

SO HERE I’ve already made posts 100,500 times where I mentioned some rock band, and FD in general (it’s especially clear in the post with Viola), whose music I listen to 24/7, with extremely rare interruptions to third-party songs. Let me just say - Ghost. Anyone interested in what it is and why they listen to it will Google it. If you ask me to tell you about this group, some internal jokes of the fans, jokes of the musicians and the vocalist, and the whole plot of the group as a whole, spare your nerves, I will paint such a canvas for you. Four people got caught in the attack, I feel sorry for them, AHHA bullshit.

I was wildly pushed to create my own aushka, and to weave a couple of characters into this theme, that I couldn’t resist and this snake came out, a malachite snake. Since I decided to really get into this FD (that’s why one of my nicknames is Rat x)), I wrote down a few of my heads, and VERY BRIEFLY the plot of my characters. So far, only Piper has been distributed, so this is as brief as possible:

Since this is a headcanon and there is no title “Emeritus Mama” in the original or in real life, it will be here. Since the vocalist is referred to as "Emeritus Papa" in the Ghost fandom, the women in her line will be Emeritus Mama. Piper became Emeritus Mama I because before her, the title of Emeritus Mama Nihil (Nihil - designation 0 in Roman numerals) was held by her mother. Piper, like the original band, performs with a rock band. Unlike her mother and sisters (I will only take sisters for now, because I divided the groups by gender), her makeup refers to the skull of a snake. You can see her without paint on her face, but it’s extremely rare. Early in the morning or late at night, if she was in her chambers. But usually she puts on makeup and only then leaves her room. Before taking on the title of Emeritus Mama, Piper was a cardinal and wore a more simplified version of her makeup - an all-white face, outlined in black for her eyes and lips. Like the original, her musicians are ghouls, who obey her in the same way, helping to perform on stage, playing live music (I will show the ghouls much later, I have to draw them and their outfits). Ghouls are literally children in adult bodies, so on stage they can go crazy or get too close to the audience, but magical chains keep them from attacking, because in addition to childish pampering, they are wild and very dangerous creatures. I don’t have the outfit with me yet, I wanted to post today, but like the ghouls, it will appear a little later in two versions. Returning to the topic of song genre. Once upon a time, I was asked about her voice, whether there is anything similar among actors or musicians. Yes - In This Moment. Maria Brink's voice suits her and her type of characters perfectly. However, Brink's voice in real life does not suit her, because unlike the musical voice, it is sweet and not as rough and hoarse as Piper's should be. Therefore, if you imagine Pie’s voice, then rely on Brink’s songs.

That's all I can tell you for now. When I can get started and finish her outfits and ghouls, I'll be sure to post the story as well.

Also, I want to remind you that English is not my native language. I could easily make mistakes or incorrectly label the character's title as “Emeritus Mama”, because I cannot know exactly what this title would sound like in English and correctly. Thanks for reading! Also, I will be grateful if the fandom accepts me without aggression. I joined it not so long ago, only in November 2023, and I would really like to develop my headcanons and history. I will be grateful if there is no aggression towards me. If something doesn’t suit you, please just don’t read, but there’s no need to create scandals out of the blue. Let's be people, not animals, everyone has the right to imagination. And I want to say, there will also be headcanons on paps and ghouls at some point. I won’t promise a big asset from me just yet, because real life is too pressing, and posting posts with just text is boring and unacceptable for me. I just HAVE to attach art to them!

I will also publish my works only under two tags, so as not to be an eyesore to those who want to read posts about the fandom, and not some third-party projects, like mine! These are: ghost band art and blck drgn ghost (my personal tag, so as not to really clutter up other people's viewing of original content!)

Thank you! I love everyone💙💜

[thosearentcrimes]

At work today I discussed with my colleagues the current government's decision to reduce the amount by which pensions will appreciate. They would ordinarily track inflation, but this time they will exceptionally be increased by a lot less than inflation, coincidentally they will increase by about the rate that wages increased at. This is in addition to the other major retirement reform, which is that the retirement age is being pushed up for young people. The claim is that the pension system isn't really solvent, so while everyone under 35 is being fucked out of their retirement, old people are being stiffed on inflation adjustment. The 35-65 year olds who voted the present government in are going to be fine, of course.

My colleagues noted that we'd been fucked out of inflation adjustment on our wages (I'd guess all in all we've taken a 10% real terms pay cut, but note that food prices are inflating faster than most) and that it was finally time for someone else to feel the pain as well. My colleagues do not understand that the government actively intervened in the economy to keep wage inflation down well below price inflation. What they do understand is that somebody has to suffer, and by god they don't want to suffer alone. It reminded me of when we were discussing wage levels in general, when they said anyone who wants to retire at some point, let alone buy housing or something, definitely needs to have a much better job than we do, and saw nothing horrible about it. They thought of that as just the way things are as well.

And it reminded me also of the people talking about how the injustice of racism is the fact that the bad things that disproportionally happen to certain minorities are happening in the first place. As summed up by triviallytrue, "police brutality is not bad because it's racist, racism is bad because it contributes to police brutality (among other things)". And this is definitely the most important reason, certainly, but I think you people are ignoring the reasons people don't see this.

Like, I understand that this is an absurd proposition (though even so there are people who believe it), but imagine that the amount of police brutality is fixed, that the maintenance of social order (which is necessary to avoid the bellum omnium contra omnes) requires a specific minimum amount of exemplary brutality, and that minimum is being diligently enacted without any more. Is it then unjust in itself if the vast majority of this police brutality is concentrated on a racial minority (scapegoat/punching bag)? I say it is, and fairly obviously so. Discriminatory distribution of a good or a bad is unjust in itself, even taken aside from the moral status of the production of that good or bad.

The thing is, there are quite a lot of people out there (like my colleagues) who believe that the amount of economic misery is fixed. There's nothing you can *really* do to address poverty (except perhaps "making everyone poor like the communists") and there's no real hope to fix the economy, so the only thing left is to litigate the distribution of misery. This is a horrible and incorrect thing to believe but it is self-consistent.

For a more specific example, look at unemployment. Under present economic systems a significant baseline rate of unemployment is an economic necessity, with the optimal rate "the market" will converge to depending on exact circumstances, and the maintenance of worker discipline (which is part of why baseline unemployment is valuable) requires unemployment be unpleasant or at least highly stigmatized. Under these conditions, if there is a de facto rule of "last hired, first fired" specifically targeting a particular minority, well, that's an injustice, and to people who think the present economic system is necessary, it is quite possibly going to be the most pressing one they see.

Now, the important thing to note of course is that other people have seen these same things and concluded we need radical changes to the economic system to eliminate the source of the injustices themselves and not merely redirect them, and they were correct to do so. The Black Panthers and MLK both ended up at this conclusion starting from the problem of racism in the US, and I wish more people would take their example instead of blindly following the market propaganda where it leads.

But if you believe, as most Americans tragically do, that the brutal and exploitative society is nonetheless the best possible one, but also believe that racism is bad, you have no choice intellectually but to attack the distribution. And I think it's important to understand what the error people are making is. They're not really making a moral error, the way people have been suggesting they are, neither pessimism nor vulnerability to propaganda are evil. They are failing to recognize economic injustice for the same reasons everyone else fails to recognize economic injustice, it's just that because they care about other kinds of injustice this is perceived as a betrayal by a lot of people on the left. In reality there is no more reason to feel betrayed by someone being really into Black Cops and Women CEOs than there is to feel betrayed by any other sucker.

[magnusrosen-blog]

I'm not fishing for empathy for my dear mother, but I want to show that our humanism is beginning to fray at the edges. It is no longer about caring, understanding and love in our system. Maybe it is time to open the beautiful eyes we have been given and look behind the curtain of illusion.

I would like to both praise the home care but give rice to the administration that sets the guidelines for our dear elderly.

Many who, in addition to a low pension, have their pets which mean a lot. A little life that exists in their home that maybe makes the spark of life and also the location in reality work. We are human beings and need care, love and understanding towards each other. This is what a healthy healthy society should look like.

My old mother has a cat to which she returns daily about the importance and significance. Just that she has this little life by her side.

If you are old and have difficulty getting out yourself, home becomes your whole life.

I would like to praise the home service, which does a fantastic job despite its short time at each visit. But those who decided how time should be distributed do not seem to be people with knowledge of either the human being or the care / help for the elderly.

If you want to allocate your short 15 minutes for a walk as an example, you must apply for this. If you have a pet like my mother, a small cat, you can't ask the domestic service to empty the litter box when they take the garbage, even though the way out is by the litter box.

If you are to have this help, you must apply for it. In this case, I have called the home service, and been told that they do not have the right to grant this, so I have then been referred higher up in the hierarchy. There they can't make a decision about the litter box either, as it takes about 1 minute to empty it. But then they must send out a form to my mother which must then be filled in. It is about 10 miles round trip for me, which I happily do for my dear mother. But whether it is environmentally friendly or not is for someone else to decide.

Then I fill in the papers, go to the post office and send it all off.

A month or so later, I receive a call from the social secretary that the decision has been rejected.

You will be asked to make an appeal, which means that they will send out a new form. I travel another 10 miles to fill out the appeal so that my old mother will have the opportunity to keep her cat and empty the litter box.

An animal especially for an elderly person but also for both younger and middle-aged people can mean the light and joy in life!

Isn't it right that we have a humanistic society that is based on security and well-being.

The time should come to start caring about each other where understanding and consideration become the guidelines in a society for humans. Of course and always with the framework of human rights.

Surely this shouldn't be too much to ask of our elected politicians who say they care so much about people / society's residents? That's probably why they're in a political position, you'd like to believe. 🙄 hm

Love my mother and am sure that many of us feel powerless in the face of our own system which is supposed to be just for us residents.

A powerless son. Sincerely, Magnus Rosén

[pensionsweeks]

Essential Tax Planning Strategies for Retirees

Retirement should be a time to relax and enjoy the fruits of your labor. However, navigating the tax implications of retirement income can be a complex task. Here, we'll explore some essential tax planning strategies for retirees to help you minimize your tax burden and maximize your after-tax income.

Understanding Your Retirement Income Sources

The first step in effective tax planning is understanding the different sources of income you'll have in retirement. These typically include:

Traditional IRAs and 401(k)s: Withdrawals from these accounts are taxed as ordinary income.

Roth IRAs and Roth 401(k)s: Qualified distributions from these accounts are generally tax-free.

Social Security: A portion of your Social Security benefits may be taxable depending on your total income.

Pensions: Pension income is typically taxed as ordinary income.

Investment income: Dividends, interest, and capital gains from investments may be taxed at different rates.

By understanding your income sources and their tax treatment, you can develop strategies to minimize your overall tax liability.

Tax-Planning Strategies for Retirees

Here are some key tax-planning strategies that retirees can consider:

1. Maximize Tax-Advantaged Withdrawals:

Strategic Withdrawals from Traditional IRAs and 401(k)s: Consider delaying withdrawals from these accounts until necessary to minimize your taxable income. If you must withdraw funds, try to stay within a lower tax bracket to avoid pushing yourself into a higher one.

Roth Conversions: Converting some of your traditional IRA funds to a Roth IRA can allow them to grow tax-free and be withdrawn tax-free in retirement. This strategy may be beneficial if you expect your tax rate to be lower in retirement than it is currently. However, there are tax implications for the conversion itself, so consulting with a tax professional is crucial.

2. Optimize Social Security Benefits:

Delaying Social Security: If you can afford to, delaying the start of your Social Security benefits can significantly increase your monthly payout. You can delay benefits until as late as age 70, resulting in a higher benefit amount for the rest of your life.

Strategic Spousal Benefits: Married couples can potentially maximize their Social Security benefits by coordinating their claiming strategies. Consider which spouse has a higher earning history and plan withdrawals accordingly.

3. Manage Investment Income:

Tax-Efficient Investment Portfolio: Review your investment portfolio and consider tax implications. Look for investments that offer tax-advantaged benefits, such as municipal bonds which typically offer tax-exempt interest income.

Capital Gains Harvesting: This strategy involves selling investments that have appreciated in value to offset capital losses and potentially lower your tax bill. Consult with a financial advisor to ensure this approach aligns with your overall investment goals.

4. Deductions and Credits:

Itemized Deductions: Seniors may qualify for various itemized deductions, such as medical expenses or charitable contributions. If your itemized deductions exceed the standard deduction, you can potentially lower your taxable income.

Retirement Tax Credits: Depending on your income level, you may qualify for tax credits specifically for retirees, such as the Senior Citizen Credit or the Credit for the Elderly or Disabled.

5. Consider Tax-Friendly Withdrawals:

Qualified Charitable Distributions (QCDs): If you are 70.5 years old or older, you can donate up to $100,000 per year from your IRA directly to qualified charities. This reduces your taxable income without affecting your itemized deductions.

Health Savings Accounts (HSAs): Funds remaining in an HSA after medical expenses are paid in retirement can be withdrawn tax-free for any purpose.

6. Seek Professional Help:

Tax laws can be complex, and tax planning strategies can vary depending on your individual circumstances. Consider consulting with a qualified tax professional to develop a personalized tax plan that maximizes your after-tax income and minimizes your tax burden in retirement.

Conclusion

By implementing these tax-planning strategies, retirees can navigate the complexities of retirement income and keep more of their hard-earned money. Remember, the earlier you start planning for retirement taxes, the more time you have to optimize your financial situation and secure a comfortable retirement.

[iwantjobs]

5/14/2024: Pease let the mayor know that in the last 2 days, I reached out to 3 white homeless (1 woman). Perhaps they don't trust an Asian person so they didn't really take me seriously:

1. The female Caucasian still young but reaching 45 years old with bleached blonde hair was begging for money at the street light brushed off my offer to help to get a her a place, but took my homemade business card when I said I'll help you look for a job. I can help her look for a job by renting a tiny storage with my cash so she can place her belongs in there. I can help finish her with clean undies, clothes and clothes and so she can place in storage while looking for a job and work.

2. A drugged out reaching middle-aged white man with his bay planet in the morning in the parking lots. Gave him $2 and my business card and he took the money and went into the store, but he seems polite and harmless.

3. A 40-year-old white man on a bike who seems to be strong whom I met at a grocery distribution day at the local church. I told him to email me and tell me what he wants and I can help him get off the street. He was receptive at first, but as soon as I told him I am trying to get a job with the mayor and he said something likes "doesn't work" and walked off. Then I said out loud in a funny but form tone of voice "don't say I didn't try to help."

4. A Middle aged black man who seems a bit frail, but receptive to my offer. Took my email.

5. A 45 year old Latino man who seems receptive and took my business card.

6. I placed my homemade business card on the bed of a homeless who is stationed right next to the door of a library, but he or she wasn't there.

Well mayor, I am doing my part to help out the homeless where I live first with me a a semi-homeless with a place to sleep as a part-time caregiver with IHSS while owning a van as my bed which I park next the the elderly 's house whom I work as a part-time caregiver for, and a cheap, used Nissan Leaf to drive around the neighborhood to reach out to thr homeless people here. Because my expenses are extremely low after I tamed all my spending, I can use disability checks to finance my work-experience to build my resume with you for a pension -health-insurance part-time job with full-time pay work at home with the Saint Joseph or San Jose city.

Sorry for bad English and spelling for I am focusing on implementing my ideas first then write out later.

I'll stop emailing you now to focus on work. In the future, I fear my name will be uttered among the homeless and soon to the news. I'll email you with a professional looking resume later when I am done with my implementation work.

Thank you,

Trang Nguyen

Yahoo Mail: Search, Organize, Conquer

[rametarin]

The solution to the Pension System thing

Finish medical science.

What do I mean by, 'finish'? Well, it's simple. The greatest expense in life is our bodies getting old, wasting away and eventually dying because the mechanisms that keep us alive when we're young are in substantially better condition than when we're older. Our youth is the time of our independence.

But why does it have to be this way? We are pushed to produce children, but the people that designed the social welfare system themselves decided to make it pyramid shaped, of the young being born to take care of the elderly through sheer numbers. But this cannot work in a world of limited space and resources. You just get people forever aging and with the oldest aging out slower, requiring perpetual growth.

Now, socialists try VERY HARD to emphasize the "infinite growth is unsustainable :^)" thing and point the fingers at capitalists for this, but like everything else socialists and related philosophers imagine, it's not true. It's the people that decided it's in the state's interest to use the citizen's money to make it possible to pay for peoples healthcare that got us in this mess. It offered an OPTION for our aging and diseased population problem that was unaffordable otherwise, but that's just the problem. It REQUIRED a social contract with the state to make that possible, just by sheer scarcity and dfifficulty of scale.

So clearly the solution is to reduce the cost of healthcare. The biggest expenses come in the forms of surgery, the overhead and charge for high tech, patented and trademarked, very sophisticated and expensive medical devices, the absolute racket that is the pharmaceutical industry, and the cost of hospitals.

These are all questions of the level of the science, logistics of production, and minimum standards. If we had cheap ways to accomplish all medical needs for gauze and bandages and gowns that were pennies to the dollar, ways to manufacture anesthetic that are extremely cheap, ways to manufacture even personalized medicine, and set those as the minimum standards, we could disentangle these elements from the proprietary healthcare system.

No more Emergency Rooms charging $100 for a high priority OTC pain killer.

And the biggest expense of all: Longterm care, and Disability, the mandates that society beat a path through the world for the disabled. If disability can be cured, then a means to provide ability should be offered.

A single person reduced to a vegetative state can effectively vaporize millions of dollars of wealth from the pool, subsidized by insurance and state funds to distribute the load across the rest of society. There's absolutely no justification for this.

Rather than trying to find solutions that force everybody else to cover everybody else, thereby making untold billions of wealth disappear, why not systematically solve disability and restore ability? Invest in stem cell regenerative medicine and restorative therapies. Invest in refining our life support machines with computerization, which is very cheap now, that can do the job of millions of dollars of specialized medical equipment for the price of your wall outlet in electricity.

Can the problem be boiled down to medicine? Refine the processes that make the medicines and find alternative, more cost effective products for better results.

Vaccinations are getting to the point where one can vaccinate against every single part of a virus, thereby immunizing the animal from them for hundreds of millions of iterations, as well as being usable against cancers. Your own tumors could be MRNA vaccined away.

Eliminate disease that has to be treated chronically by curing it, not covering up the symptoms. If it's a system in the body, it has a process to make a functioning one and a process to unfucking it and working properly.

Once you get the process down to a science, it's a matter of making it as economic as possible. Once the science is finished, a trinket that can provide '00s quality MRI from a handheld device, medicine that cost a few dollars, not thousands of dollars a pill, that leaves the biggest expense of medicine of all being surgery.

And, well... there's no real way around the cost and expense of surgery. So. Removing the massive expense that comes from our own ignorance and the cost of technology that bloats the industry, we still run into the issue where needing surgery is still expensive. There's some hubub about mechanizing surgery, but I just don't think that's viable.

There's absolutely no reason why, outside the government and corporatism collaborating to gatekeep the profitability of the industries and how much they cost, these refined and improved processes couldn't give people cheap, functional prosthetics if the business and technology to do it is there. In this modern day we should have technology that scans a toothless human's gums and print them off dentures for dollars, not tens of thousands of dollars.

Once the cost of mortal life is reduced so you could cover every conceivable surgery you'd ever need in your lifetime to one year's salary, indirectly, just from buying the other things in life you'd need to function (having a designated family sensor chair that'd diagnose everything you could possibly have) then the necessity of bilking the public treasury for overpriced, write-their-own-paycheque bullshit will go away.

[jayantilal12]

BMSSY: Empowering Unorganized Workers for a Secure Future

If you're an unorganized worker in India, securing your future just got easier with the introduction of the BMSSY scheme. Designed to provide social security benefits to those outside the formal sector, BMSSY is a ray of hope for millions striving for a better tomorrow.

Unorganized workers form a significant part of India's workforce, yet they often lack access to basic social security measures. Whether it's irregular income, lack of job stability, or absence of formal employment contracts, these workers face numerous challenges in safeguarding their livelihoods. This is where BMSSY steps in, offering a safety net to protect them from unforeseen circumstances.

Understanding Unorganized Workers

Unorganized workers comprise a diverse group, including street vendors, domestic workers, construction laborers, and more. They often work without any job security, social benefits, or legal protection. Despite their essential contributions to the economy, they remain vulnerable to exploitation and poverty.

Importance of BMSSY for Unorganized Workers

BMSSY aims to bridge this gap by extending social security coverage to unorganized workers and their families. By enrolling in the scheme, they gain access to various benefits such as healthcare, disability support, maternity assistance, and pension schemes. This not only enhances their quality of life but also provides a sense of financial security for the future.

Key Features of BMSSY

One of the key features of BMSSY is its inclusivity, ensuring that even the most marginalized sections of society can avail of its benefits. Additionally, the scheme offers flexibility in terms of contributions, making it accessible to individuals with varying income levels. Moreover, BMSSY emphasizes the importance of education and skill development, empowering workers to enhance their employability and income potential.

Eligibility Criteria for BMSSY

To qualify for BMSSY, individuals must meet certain eligibility criteria, including proof of employment in the unorganized sector and adherence to specific age requirements. The scheme also extends coverage to certain vulnerable groups such as women, children, and persons with disabilities, recognizing their unique needs and challenges.

How to Apply for BMSSY

Applying for BMSSY is a straightforward process, with online and offline options available for registration. Interested individuals can visit designated enrollment centers or access the official website to submit their applications. The authorities have streamlined the registration process to ensure maximum participation and outreach among eligible beneficiaries.

Documents Required for BMSSY Registration

During the registration process, applicants are required to furnish certain documents as proof of identity, residence, and employment status. These may include Aadhar card, voter ID, ration card, bank account details, and relevant certificates attesting to their occupation. By verifying the authenticity of these documents, the authorities can ensure transparency and accountability in the enrollment process.

Benefits Offered by BMSSY

Once enrolled, beneficiaries can avail themselves of a wide range of benefits tailored to their specific needs. This includes access to subsidized healthcare services, financial assistance during emergencies, old age pensions, and insurance coverage against accidents and disabilities. By providing comprehensive support, BMSSY aims to uplift the socio-economic status of unorganized workers and their families.

Challenges Faced by Unorganized Workers

Despite the positive impact of BMSSY, unorganized workers continue to face challenges such as limited awareness about their rights, bureaucratic hurdles in accessing benefits, and inadequate implementation of welfare schemes at the grassroots level. Addressing these challenges requires concerted efforts from both the government and civil society to ensure equitable distribution of resources and opportunities.

Impact of BMSSY on Unorganized Workers

The implementation of BMSSY has already begun to yield positive results, with thousands of beneficiaries reporting improved access to essential services and financial stability. By empowering unorganized workers to assert their rights and claim their entitlements, BMSSY is gradually transforming the lives of millions across the country.

Success Stories of BMSSY Beneficiaries

The success stories of BMSSY beneficiaries serve as a testament to the scheme's effectiveness in improving the well-being of unorganized workers. From securing medical treatment for critical illnesses to providing educational support for their children, these individuals have overcome adversity and emerged stronger with the support of BMSSY.

[mytechbug]

Who got the $1800 Social Security payment?

Social Security Administration (SSA) distributes final payouts after 2023. The charity pays 70 million dollars to retirees and handicapped persons monthly. SSA statistics revealed retirees will average $1,827 in 2023. Age upon retirement request, years of service, pay, and taxes paid determine the beneficiary's amount. SSI payment averages USD 914 per month for single taxpayers and USD 1,371 for married couples filing jointly in 2023. PROS CONS Additional Basic Needs Income Makes Retirement Secure May not cover higher living costs Personally Financial Security for Some December 2023 $1800 social security payout This is the December Social Security check schedule by recipient's birthday, including payment distribution: December 1: SSI recipients and those getting payments before May 1997 December 13: 1st-10th birthday beneficiaries December 20: Beneficiaries born 11–20 December 27: 21–31-year-old beneficiaries Since the first January cheque is brought ahead on the weekend, SSI beneficiaries will receive two payments in December. DEC 29 is the first 2024 Supplemental Security Income payment, which includes the automatic 3.2 per cent COLA increase. Understanding 2023 Social Security Checks $1,800 On December 13, 2023, thousands more US residents will receive Social Security payments, so check your bank account. Two conditions must be met to get $1800 social security payment in December 2023; however, a new cheque will be issued within hours. It's great to know we'll get a retirement check each month, but learning when is even better. Is It A Supplemental Security Income? People in the US are unemployed, disabled, or elderly. To give these folks a good life without dependence, the government has chosen to issue SSI benefits. The beneficiaries will receive their first cheque after Christmas because the first day of the following year is a vacation. Individuals receive $914, and couples $1371. Couples must file taxes jointly. The tax return documentation must be submitted; otherwise, the money will not be sent to their bank accounts. It is the same for all beneficiaries. Have you received a $1800 Social Security Payment? Social Security payments for 2023 will be made on the 2nd, 3rd, and 4th Wednesdays. The 3.2% COLA rise will be noticeable next year. December payments may start last week. The Social Security Administration will pay on schedule. Call 800 772 1213 during business hours. Beneficiaries can contact officials via the leading portal. What If I Haven't Received $1800 Social Security Payment?] Your bank account should have received the payment by December 1. If you still need to, check your government application. The documents or information may be wrong. The exact number as above will be used to reach officials. Beneficiaries must seek help. They must show ID or SSN. This monthly payment recipient must check their banking status. They must inform SSI officials. They will suggest a clever method for easy money transmission. How can seniors get social security checks on December 13? Two requirements are needed to acquire the December 13th SSA check. An additional restriction applies to Social Security benefits for seniors born between the first and tenth of any month. You must also have received a retirement cheque after 1997. Beneficiaries who received checks before December 1 were paid. Retirees after that year may receive their pension on three December days, depending on their birthday. Senior beneficiaries born between January 1 and December 10 receive their dividend on December 13. Two more payment days have been updated for December 20 and 27. No worries if your birthday is outside December—you'll still get the money. My January Social Security check arrives when? The January Social Security and SSI payment schedule: Dec. 29: SSI January payouts. Jan 3: People who received Social Security before May 1997 received benefits on Jan. 3. January 10: Social Security payouts for January 1–10 birthdays. Jan. 17: Social Security payments for 11th–20th-month birthdays. Jan 24: Social Security payouts for 21st–31st birthdays on Jan. 24. How is my Social Security payment date set? Social Security pays on each month's second, third, and fourth Wednesdays. Your birthday determines your cheque day. If your birthday is between the 1st and 10th, your payment will be sent on the 2nd Wednesday. If your birthday is between the 11th and 20th, your payment will be made on the third Wednesday. Your payment will be paid on the fourth Wednesday of the month if your birthday is between 21 and 31. Point To Remember For $1800 Social Security Payment $1800 Social Security Payment is different if you received Social Security before May 1997 or both Social Security and SSI. Instead of Wednesdays, you'll get Social Security on the third day and SSI on the first. When the first or third day of the month is a weekend or holiday, payment dates alter. Since Jan. 1 was a holiday, SSI recipients received their January payments on Dec. 29 and Social Security on Jan. 3. Latest News Beneficiaries learn that the stimulus may rise this time. Most people talk about Christmas and New Year's celebrations incorporating holidays. Thus, officials will give the most. Eligible stimulus cheque recipients will receive the benefit. An additional $140 will be provided. Due to the higher cost of living, people seem content with the money. A COLA of 8.7% is expected for beneficiaries. This is important for retirees and individuals with income issues. This rise will affect tax rates and government deductions. However, the sum must be modified, preferably from taxes. FAQs Distribution of $1800 Social Security Payment? The beneficiary's birthday determines the payment date. Birthdays from 1 to 10 are paid on the second Wednesday of the month. People born 11–20 receive it on the third Wednesday, and those born 21–31 receive it on the last. On December 13, who gets $1,800 from Social Security? Considering the average amount and payment schedule, retired workers who claimed the benefit after May 1997 and were born from the 1st to the 10th of their month will receive an approximate $1,800 cheque on Wednesday, Dec. 20. How much will the 2024 COLA raise my Social Security payment? COLA increases Social Security payments by 3.2%. The Social Security Administration says it will boost monthly payouts by almost $50—new average 2024 payments by recipient category. Read the full article

[townpostin]

321 Pension Approval Certificates Distributed in Jamshedpur

Senior Citizen Pension Certificates Distributed at Baridih Assembly Office Under the directives of Jamshedpur East MLA Saryu Roy, 321 approval certificates for the Chief Minister’s State Old Age Pension Scheme were distributed at the Baridih Assembly office on Sunday. JAMSHEDPUR – On Sunday, 321 approval certificates for the Chief Minister’s State Old Age Pension Scheme were distributed at the…

[buzz-london]

The so-called grey tsunami is upon us: worldwide, people over age 60 already outnumber children under age 5. It’s no tsunami; it’s a demographic wave that scientists have been tracking for 70 years.

It’s increasingly clear that the socioeconomic threat posed by population aging has been overstated to justify shrinking the welfare state and public assistance programs. Nor have other demographic horror stories predicted by conservatives in the 1990s come to pass, as Dean Baker observed on 11/2/23 in Counterpunch.

Healthcare costs have not exploded. (The notion that older people are an inevitable sink for healthcare dollars is incorrect.) Most of the baby boom has already reached “retirement age” and the sky has not fallen. Adjustments to Social Security have already accounted for increased longevity.

That longevity is not evenly distributed: almost all the gains in the last half-century have gone to the well-off. That’s why Baker’s article is titled “The Return of the Aging Crisis: A Diversion from Inequality.” Shamefully, although life expectancy since 2020 has rebounded in other wealthy nations, in the US it has dropped dramatically.

Americans who live less long are disproportionately black, brown, and indigenous, because they experience the highest levels of poverty, face the most food insecurity, and have less or no access to healthcare.

[abfdfjy]

N. Chandrababu Naidu's Initiatives for the Educational and Socioeconomic Development of Scheduled Castes and Tribes

Former Chief Minister N Chandrababu Naidu's tenure in Andhra Pradesh witnessed a strong focus on the educational and socioeconomic development of Scheduled Castes and Tribes. With a significant budget allocation, the government implemented various schemes and initiatives to uplift these marginalized communities. This article highlights the achievements and contributions of the TDP government in empowering Scheduled Castes and Tribes through education, social welfare, and economic development.

Recognizing the importance of education, the TDP government launched the "Mabadi" scheme, establishing 1,841 schools dedicated to the education of Scheduled Castes and Tribes. Additionally, 2,210 hostels were set up, accommodating over 246,000 students from weaker sections. These hostels provide a safe and conducive living environment, supporting students' educational pursuits. The government also established special hostels in each district to improve examination results for students from social welfare hostels. To combat the social evil of untouchability, the government established 22 special courts to handle related cases. Furthermore, incentives were introduced to encourage inter-caste marriages, fostering social harmony and breaking down caste barriers. Additionally, the government formulated a "Turnaround" plan to uplift the advanced leather industry, benefiting Scheduled Castes involved in this sector.

N. Chandrababu Naidu's government took strict action against crimes targeting Scheduled Castes and Tribes. In cases of murder or unnatural death, compensation of two lakh rupees is provided, along with pensions for family members and free education for children. For incidents of rape, compensation of Rs. 50,000 is provided. These measures aim to ensure the safety and welfare of marginalized communities, providing them with support during times of distress. The TDP leaders implemented various social welfare programs, including cash incentives for inter-caste marriages and the distribution of house plots to Scheduled Castes, Scheduled Tribes, and Backward Classes. Integrated institutions called "Ananda Nilayas" were established to amalgamate government asylums and liberation hostels. Moreover, an old age shelter in Hyderabad was set up, and a monthly pension of Rs. 50 is provided for impoverished widows. The government also established a Voluntary Welfare Fund to encourage and financially assist organizations engaged in social welfare activities. Look over the TDP website for more live updates and political news.

The government's efforts extended to economic empowerment, with a focus on promoting entrepreneurship and employment opportunities. Financial assistance was provided to advance the leather industry, identified as a key sector for economic development among marginalized groups. Training programs were also implemented to enhance the skills of individuals from Scheduled Castes and Tribes, enabling them to succeed in various industries. To combat poverty, the TDP government initiated programs offering cash assistance and subsidies to ensure access to basic necessities like food, clothing, and shelter for Scheduled Castes and Tribes. Furthermore, job training and employment opportunities were provided to uplift individuals from these communities, enabling them to improve their economic status.

N. Chandrababu Naidu's government in Andhra Pradesh demonstrated a strong commitment to the educational and socioeconomic development of Scheduled Castes and Tribes. Through focused initiatives, such as dedicated schools and hostels, efforts to address untouchability and economic empowerment programs, the government aimed to create an inclusive society where marginalized communities can thrive. These endeavours have played a significant role in promoting education, social welfare, and economic upliftment, fostering a more equitable and empowered society in Andhra Pradesh.

[thelistingteammiami]

Why Florida Homes Are Still a Great Investment Choice

Florida owes many of its natural wonders to geography. However, it’s smack in the middle of the path of hurricanes. Although storms are part of the state’s rich tapestry, some real estate investors question whether Floridian properties are worth it. If you share the same sentiment, you must know Florida houses are still a terrific investment.

Thinking of them as a lost cause is unjustified because extreme weather is just a tempest in a teapot. Here are nine reasons the state’s real estate future is sunny — even during cloudy days.

1. Strong Retiree Magnet

The Sunshine State’s reputation as a retirement haven is as old as time. Florida has over 4.6 million residents aged 65 and above, accounting for 21% of its population. Besides warm weather, friendly tax policies consistently attract seniors to the state.

In the Retirement State, you get to keep all of your income. You can pocket 100% of your Social Security benefits, 401(k) distributions, dividends, and capital gains from investments and wages should you return to work. Moreover, Floridians enjoy many sales tax holidays. A lot of children’s goods are tax exempt, so grandparents can spoil their grandkids and save money.

If you win the lottery in the country’s Citrus Capital, you’ll be even luckier — the state government wants no slice of the pie. Regarding property taxes, Florida charges less than 1% of an owner-occupied property’s assessed value — the 25th lowest effective real estate tax rate in the United States. As long as the state remains a tax haven for pensioners, its real estate markets will benefit from the influx of retirees who want housing to spend their sunset years there.

2. Booming Tourism

Florida is one of the most visited states in the U.S. In 2022, it welcomed 137.6 million tourists — the highest in its history.

The peninsula has abundant attractions to lure visitors across the country and the world. It’s home to Walt Disney World Resort, Magic Kingdom Park, Universal Studios, SeaWorld and LEGOLAND, earning it the title of the Theme Park Capital of the World. Likewise, it has nine teams across the four major professional sports leagues. It’s blessed with white-sand beaches that rival world-class Caribbean attractions, too.

Flourishing tourism is one of the drivers of Florida’s robust real estate markets. If you own a property in or near a tourist hotspot, your asset can grow your wealth in multiple ways.

3. Favorite Snowbird Destination

Snowbirds — usually from Canada — escape the cold and seasonally migrate to regions with milder winters. Unlike ordinary tourists, these visitors can stay in the States 182 days a year. Their extended stays allow them to contribute big time to local economies.

Many snowbirds own residences in Florida, making the Sunshine State their second home. When they’re away, they rent out their vacation houses and earn passive income. Those who prefer to lease and spend their winter in different destinations bring cash to landlords’ pockets.

4. Surging Job Growth

Corporations are having a more favorable view of Florida. It’s one of the biggest beneficiaries of the exodus of California companies, making Miami the new home base of tech startups fleeing Silicon Valley. In July 2023, the state recorded more jobs than New York, representing 3.2% growth year over year.

Rapid corporate migration to Florida will create a positive chain reaction. When businesses relocate, they bring their employees or generate new jobs. Either way, the deluge of prospective renters and buyers will drive up property prices in top corporate headquarters relocation spots like Jacksonville.

If you own a property in a strategic location, consider being a landlord. Your responsibilities will depend on your rental, but maintenance duties will come with the territory.

If you want to cash out on your home equity, you can move and reinvest in a neighborhood in an emerging market with more room for growth. Cape Coral, Tallahassee, St. Petersburg, Pensacola and Port Charlotte are some of the Gulf State’s hottest cities.

The National Association of Home Builders says properties with energy-saving features lure many buyers. That’s why houses that reflect sunlight, generate their electricity to be grid-independent and light the indoors without producing too much heat are an easy sell in Florida.

Make your home as energy efficient as possible to get attractive offers from aspiring settlers who want to build their careers. If your property is also storm resistant, it may sell itself and bring you a handsome return.

5. Massive Student Population

The Land of Flowers has dozens of colleges and universities, serving as a temporary home to hundreds of thousands of students. Many live off campus and provide positive cash flow to rental property owners.

Although students tend to move elsewhere after graduation, more will likely stay because of the increasing number of Fortune 500 corporations in Florida. By 2022, 23 of the largest companies in the U.S. had HQs in the Everglade State.

6. Burgeoning Citizenry

Florida’s population ballooned by 1.9% in 2022, overtaking Idaho as the nation’s fastest-growing state. The fact that it’s already one of the biggest demographically makes this milestone more impressive. Furthermore, it ranked first in domestic net migration in the same year.

Since the end of World War II, the Peninsula State’s population has increased more than ninefold. Florida has consistently had a positive annual growth rate for the past seven decades, so more people have moved into it than left since 1950.

7. Recession-Proof Home Values

The house prices in Florida rose when the U.S. fell into a recession from February to April 2020. They sustained their upward trend amid the pandemic’s height — proof of people’s strong desire to be in the state. If you have a mortgage in the Orange State and want to avoid negative equity during economic storms, government data shows you should stay.

8. Non-Existent Rent Control

Florida is a paradise for rental property owners. It has no rent control, so you can adjust rent based on market demand. Although the state has a housing crisis like the rest of the country, its lawmakers believe the answer is more supply and not a cap on rental premiums.

9. Diverse Property Options

Only some places can match the variety of properties you can buy in Florida. If you’re interested in residential real estate investing, you can choose from the following:

Single-family homes

Duplexes

Triplexes

Townhouses

Apartments

Condos

Timeshares

Vacation rentals

Villas

With various options at your disposal, you can select a property that suits your budget and lifestyle.

Real Estate Is Sunny in Florida

Risk is an irremovable aspect of residential real estate investing, but minimizing it as much as possible is your key to success. Judging by how things are going in the Tropicana State and its rosy outlook, it’s clear that using a Florida home as your retirement plan is a safe bet.

[crossborderfinancialplanning]

Navigating the Cross-Border Transition: Canadian Retirees Moving to Texas for Permanent Residency

Retirement marks a significant life transition, often involving careful planning to ensure financial stability and well-being during the golden years. When the prospect of cross-border relocation arises, particularly when a Canadian mother considers moving to Texas for permanent residency, a myriad of implications, potential complications, and considerations come into play. This blog will explore the multifaceted aspects of such a transition, focusing on how Canadian Old Age Security (OAS), retirement accounts, healthcare, and taxes are impacted. We will delve into the complexities of cross-border financial planning and tax optimization, while highlighting the indispensable role of cross-border financial advisors in ensuring a smooth and tax-efficient transition.

Implications and Potential Complications

Canadian Old Age Security (OAS): The Canadian Old Age Security program provides a basic pension to eligible seniors. However, moving out of Canada can affect OAS payments. As of my last knowledge update in September 2021, Canadian citizens living abroad for more than six months may experience a reduction or complete suspension of OAS benefits. Careful consideration is necessary to evaluate the impact on retirement income.

Retirement Accounts: If the Canadian mother possesses Registered Retirement Savings Plans (RRSPs) or Registered Retirement Income Funds (RRIFs), moving to Texas introduces complexities. The tax implications of withdrawing from these accounts and transferring them across borders demand careful planning to avoid hefty tax liabilities.

Healthcare: Canada's publicly funded healthcare system differs significantly from the U.S. model. While Medicare covers healthcare costs for U.S. citizens and permanent residents, navigating healthcare access and insurance as a Canadian expatriate in Texas requires thorough research and planning.

Tax Implications: Taxation is a central consideration in cross-border transitions. Individuals are subject to taxation in both Canada and the U.S., potentially leading to double taxation. The Canada-U.S. Tax Treaty helps mitigate this issue by providing guidelines for determining which country has the primary right to tax specific income sources.

Considerations for a Smooth Transition

Residency Status: Determining residency status in both Canada and the U.S. is crucial. It affects taxation, benefits eligibility, and more. Avoiding dual residency can prevent complications and ensure adherence to tax laws.

OAS Clawback: Analyzing the impact of OAS clawback, which reduces benefits when income exceeds a certain threshold, is crucial. Strategic financial planning can help minimize the impact.

Tax-Efficient Account Transfers: Transferring retirement accounts across borders can lead to taxation. A cross-border financial advisor can help devise strategies to minimize tax liabilities during these transfers.

Healthcare Planning: Understanding healthcare coverage options in Texas is vital. Adequate health insurance must be secured to cover medical expenses, potentially in coordination with existing Canadian coverage.

Estate Planning: Estate and inheritance laws differ between Canada and the U.S. Careful estate planning can ensure assets are distributed as intended, while minimizing tax implications.

Currency Fluctuations: Managing financial assets across borders exposes individuals to currency fluctuations. Hedging strategies can be employed to mitigate risk.

The Role of Cross-Border Financial Advisors

Cross-border financial advisors specialize in navigating the intricate landscape of international financial planning and taxation. These professionals offer invaluable assistance in the following ways:

Expertise in Tax Planning: Cross-border financial advisors possess a deep understanding of the tax implications associated with cross-border moves. They can provide insights into minimizing tax liabilities, understanding tax treaties, and optimizing investments.

Customized Financial Strategies: Each individual's financial situation is unique. Cross-border financial advisors create personalized strategies that consider factors like residency, income sources, and retirement accounts to achieve the best possible outcomes.

Navigating Legal Complexities: Laws and regulations pertaining to cross-border financial matters are intricate. Advisors help clients navigate legal complexities, ensuring compliance with both Canadian and U.S. laws.

Accounting for Changes: Life is dynamic, and financial situations change. Advisors offer ongoing support, helping retirees adjust their financial strategies as circumstances evolve.

Peace of Mind: Making a cross-border transition can be overwhelming. Cross-border financial advisors provide peace of mind by offering expert guidance, ensuring retirees can focus on enjoying their retirement years.

Bottom Line

Moving from Canada to Texas for permanent residency involves intricate financial and legal considerations. The implications on Canadian Old Age Security, retirement accounts, healthcare, and taxes underscore the importance of meticulous planning. With the guidance of cross-border financial advisors specializing in cross-border financial planning and cross-border tax planning, retirees can navigate these complexities, ensuring a smooth transition with minimal tax implications. As the landscape of cross-border living is subject to change, seeking professional advice is crucial to achieving a financially secure and comfortable retirement.

[libramonthlyhoroscope1]

IRA

There is no limit to the number of individual retirement accounts (IRAs) that you can establish. But you'll still be subject to your annual maximum contribution limits, so you cannot simply max out each account that you have.

In other words, if you have two IRA accounts, you can contribute the maximum amount between the two of them. In 2022, you can contribute a maximum of $6,000 per year to an IRA. If you had two IRA accounts, for example, you could split the $6,000 and deposit $3,000 in each account, but no more than $6,000 combined. For 2023, the maximum amount you can contribute to an IRA account increases to $6,500.

IRA

Also, you must also have eligible compensation, which includes wages, salary, or self-employment income for any year you contribute. That leaves out income from things like pensions, annuities, interest, dividends, and rentals.

KEY TAKEAWAYS:

There is no limit to the number of traditional individual retirement accounts, or IRAs, that you can establish.

However, if you establish multiple IRAs, you cannot contribute more than the contribution limits across all your accounts in a given year.

If your spouse has little or no income, you can contribute on their behalf, which can double the amount saved for retirement.

Each account may have associated fees that affect the returns on the accounts overall.

Understanding IRA Accounts

There have been changes to IRA accounts in recent years. In December of 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act went into effect. The SECURE Act eliminated the maximum age for traditional IRA contributions, which was previously capped at 70½ years old.

A Roth IRA can also be established at any age, as long as you have eligible compensation and meet the income requirements. A Roth IRA doesn't provide a tax deduction in the years that contributions are made, but it allows for tax-free withdrawals in retirement as long as the person is over the age of 59½ and the account has been opened for more than five years.1

Conversely, a traditional IRA provides a tax deduction in the years that the contributions are made, but the withdrawals in retirement are taxed at the retiree's income tax rate in the year of the distribution.

IRA Contribution Limits

Keep in mind that regardless of the number of IRAs you maintain, you still cannot contribute in total more than the annual contribution limits. For 2022, you are allowed to contribute 100% of your compensation up to $6,000 per year to an IRA, increasing to $6,500 in 2023. If you're aged 50 and over, you can contribute an extra $1,000 as a catch-up contribution for a total of $7,000 per year in 2022 or $7,500 in 2023.

All regular IRA contributions must be made in cash (which includes checks), not in securities. You can divide up the permitted contribution among your IRAs or contribute the whole amount to one IRA.1

Roth Income Limitations

The Roth IRA has income limitations, meaning that if you earn over the limit, you will not be able to contribute to a Roth, or your contributions could be phased out or limited. The income phase-out range also depends on your tax filing status.

For the 2022 tax year, if you are filing taxes as single, you couldn't contribute to a Roth IRA if you earned more than $144,000 ($153,000 for 2023). The income phase-out range for 2022 contributions was $129,000 to $144,000 ($138,000 to $153,000 for 2023).678

For married couples who file a joint tax return, the maximum you could contribute to a Roth in 2022 was $214,000 ($228,000 in 2023). The 2022 income phase-out range is $204,000 to $214,000 ($218,000 to $228,000 in 2023).

Spousal Contributions

If your spouse has little or no income, you are allowed to make contributions on their behalf—commonly known as spousal IRA contributions. The same rules apply as those for traditional IRA contributions.2 Your spouse will have their own IRA account since IRA accounts are not allowed to be held jointly. This allows a family to double the amount of money set aside for retirement.

Here are the requirements for opening a spousal account:

You must be married and file a joint tax return.

You must have eligible compensation to make contributions.

The total contribution for both you and your spouse cannot be more than your taxable compensation reported on your joint tax return.1

Special Considerations

If you decide to establish multiple IRAs, remember that annual maintenance fees may apply to each IRA. These fees can average from $50 to $100 per year. Fees can eat into your returns, so it is important to be knowledgeable about all of your retirement account fees.

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