Understanding Social Security: 4 Facts Everyone Should Know

Social Security was a program implemented by the U.S. Congress in 1935 to provide a steady income for older individuals and others. It has provided for millions of American since its inception and is one of the most revered programs provided by the nation’s government. 

However, Social Security has complex rules and restrictions that can be confusing. Here are some of the most basic points of the Social Security system that you should keep in mind.

Not All Employment Contributes to Social Security

If you earn wages from a company, your employer will deposit money into your Social Security account held by the government. If you are self-employed, you will have make the deposits to the government yourself. 

Unless portion of your earnings are deposited to your Social Security account, the wages will not be calculated toward your benefits.

Disability Can Qualify You to Receive Benefits

Social Security is not just a retirement program. It provides income for individuals who are unable to work because of illness or other disability. The rules regarding these cases are complex, and application for benefits can take some time complete. 

You may require an attorney experienced in social security disability benefits to help you navigate the application process.

Applying before Full Retirement Age Reduces Your Benefit

You can begin to receive Social Security benefits as early as age 62, but the amount will be less than if you had waited until full retirement age. Full retirement age is currently 66 years of age for those born between 1943 and 1954. 

If you apply at age 62, your benefit will be reduced by 25 percent. At age 63, your benefit is reduced by 20 percent. At age 64, benefits are reduced by 13.3 percent. And at age 64, benefits are reduced by 6.7 percent.

Years to Qualify for Divorced Spousal Benefits

Individuals who are at least 62 years old may receive benefits under the account of a working spouse if the working spouse has applied for their own Social Security benefits. 

However, if you are the divorced partner of a working spouse, you may receive benefits even before your spouse files for benefits, if he or she is at least 62 years of age. You must have been married to the working spouse for at least 10 years.

Social Security can be a puzzling system, with many requirements for different circumstances. The complex rules have evolved over time to cover a variety of situations that arise in modern society. 

You can find a wealth of information about Social Security benefits on the Internet, along with phone numbers that will connect you to individuals that can answer your questions. 

These resources can provide the information you need to determine whether you are eligible for benefits and the best ways to utilize these benefits for your particular needs.

My Favourite Contemporary Artists by Yomi Rodrig

My name is Yomi Rodrig and I work as a hedge fund manager; working in the investment sector means my mind never shuts down from thinking of new ways I can invest both my own and clients’ money. One of my favourite Items to invest in is contemporary art.

As well as enjoying visiting galleries, exhibitions and meeting with well-renowned and up and coming artists, contemporary art is rising in popularity and therefore value, making it one of the best and most interesting things to invest in at the moment.

If you’re keen to learn more about contemporary art from either a hobby or investment point of view, then please carry on reading to learn more about my favourite contemporary artists who put their own unique stamp on the art world and have become renowned for their individual styles, making them not just well-loved members of the contemporary art market, but valuable ones too.

Rudolf Stingel

Born in Merano, Italy in 1956, Rudolf Stingel is now based in New York City and I believe the style and inspiration for his work comes from this contrast in cultures. Stingel was first recognised for his monochrome pieces, which are a far cry from the work he has continued to create in later years. 

Stingel’s style is unique to him and often employs materials that aren’t usually considered mediums for art such as silver sheets, cork and carpet.




The scale of Stingel’s work varies from vast spaces such as his exhibition at the Palazzo Grassi in Venice in which he used patterned carpet to cover the space and create an environment that encouraged visitors to think and feel, to smaller hanging pieces such as those on display at galleries such as Gagosian and the Omer Tiroche Gallery.

The concept behind Stingel’s work is to provoke conversation by not stating the obvious in his works, he aims to get visitors to his work discussing what they see and creating their own interpretation of his work, hence he adds finer details to his work but generally keeps them open and simple.

Yayoi Kusama

The colourful and creative Yayoi Kusama was born in Japan in 1929 and is infamous around the globe for being an artist of many areas and a writer of many genres. Her pieces include paintings, drawings and sculptures and even extend into the fashion industry.

One of Yayoi Kusama’s most infamous concepts is her ‘Infinity Mirrors’ exhibitions which have been hosted in various venues around the globe, including temporary exhibitions at the Dallas Museum of Art and Victoria Miro Gallery in London, and permanent exhibitions at various locations including the Mattress Factory, Pittsburgh, Pennsylvania and The Broad, Los Angeles, California.

The idea of the ‘Infinity Mirrors’ exhibitions was to reflect Kusama’s previous artworks into a vast open space, taking the pieces from hanging artworks and into an experience that tested all the senses.

Takashi Murakami

Born on February 1st 1962 in Japan, Takashi Murakami is a multi-talented contemporary artist, specialising in both fine arts such as paintings and sculptures and commercial media such as fashion and merchandise. 

Murakami’s aim after graduating from the Tokyo University of Art was to establish himself as a successful artist in the Western art world and then move his empire back to Japan to help encourage the growth of an art market in Japan, which he felt was currently missing.

Due to being strategic in how he produced and advertised his work, Murakami is now well-known around the globe for his work. As well as creating traditional pieces of artwork for galleries and exhibitions around the globe, including 727 which takes permanent residence at the Museum of Modern Art in New York, Murakami was enlisted to work with designers and brands such as Louis Vuitton and Issey Miyake where his work was used as the inspiration behind commercial products such as handbags.

Not only is an interest in contemporary art a way to engage in interesting conversations and experience unique things but dedicating time to exploring the contemporary art world could open a new investment opportunity if you gain a good understanding of the market and the value of the best artists and their works.

How A Bad CIBIL Score Can Ruin Your Chance Of Getting Doctor Loan

You heard of an opportunity to take over a polyclinic facility nearby. Sadly, you have to give it a miss. You realise that you do not have enough resources and lenders are hesitant to offer loans since you have a poor credit score.

Your CIBIL score is what speaks of your creditworthiness in front of banks or other financial institutions when you apply for a loan. An individual with low or bad CIBIL score is usually denied loan sanctions. Having a bad CIBIL score can hinder your chances of availing a doctor loan.

Why Is CIBIL Score Important to a Doctor?

To expand their practice and business, you as a doctor might need financial help for it. A CIBIL score can help you get the finances you need. Having a good credit score can fast-peddle your loan application for further formalities. 



But, seeing a bad credit score, banks or other financial institutions are known to reject applications.

What Will Affect Your CIBIL Score?

● Payment dues

Lenders need to know that their money is returned to them in the time given. If you have a payment dues on your credit card, or have ongoing loans, it will tend on influencing your credit history. The CIBIL score helps lenders know how credible you are for a loan. A bad CIBIL score will lessen your chances of getting credit without any hassles.

Amount of utilization

Having many loans and credit cards reflect that you have pending dues to pay. The amounts of those also matter. It is commonly known that the amount of credit you use from what is available to you shows how you manage your funds. It is advisable that you use only 30% of the total credit available to you and pay the bill on time.

● Healthy mix of credits (secured and unsecured)

Availing too many unsecured loans reflect bad credit score. There should be a healthy balance between secured and unsecured loans in your name. This shows the lender that you have securities that you have given for a loan. It holds up your CIBIL score and assures the lenders about your credibility.

● Infrequently checked credit report

Going a long while without checking your credit scores can land you in trouble. It is possible that you may have missed some information. Checking your credit score regularly will ensure that you have no wrongly put information or any technical error. It helps in keeping your credit history clean.

● Too many debts

If you have too many debts, lenders will be hesitant about lending you money. More so, if the debts have bad repayment history. Keeping your records clean, paying your EMIs regularly and keeping a track of your credit are all ways of avoiding too many debts.

● Many recent accounts

Availing a loan when you have recently applied for credit cards or other loans reflect badly on you. It may also give the lender the impression that you are greedy. Your CIBIL score is, hence, affected and it lessens the chances of you getting a loan when you actually need one.

How To Improve Your CIBIL Score

• Pay your dues on time
• Fasten your debt repayments
• Don’t have too many unsecured loans
• Monitor your finances
• Keep your credit history clean

Conclusion

To get a doctor’s loan, your best bet is to always maintain a good CIBIL score. It is certainly a boon. Having a healthy score not only improves your chances of being approved for a loan easily but also helps you earn lower rates of interest. Bajaj Finserv offers a range of doctor loans at affordable rate of interest. You can use the credit given to you on a flexi-loan basis that saves you interest. The doctor’s loan from Bajaj Finserv comes to you in times of need.

How Your Used Assets Can Put Money in Your Wallet

Do you need to save money for something? Perhaps you want to go on a family vacation. Maybe you’re planning on moving into a larger home. Either way, you need to have the finances. 

Don’t assume that there’s nothing you can do to be more proactive about getting them, either. Your used assets may actually help you save, believe it or not. Your “trash” may just be another person’s treasure.

Organize a Garage Sale

Organizing a yard sale can be a wondrous way to quickly earn some extra cash. It can be a fantastic way to clean your home and free it of any pointless clutter as well. It can even be a fun event for the entire family. 

Garage sales enable people to speedily unload. Do you have old artwork that just doesn’t interest you anymore? Do you have clothing that’s too small for your children? Hold a garage sale on a pleasantly mild day. Be sure to advertise it in your community, too.

Sell Your Used Assets on the Internet

You don’t have to have a big yard to get rid of your used assets. That’s because you can sell your used assets on the Internet in this day and age. Internet auction websites can be excellent for people who are looking to sell or auction off their unwanted items. 




Internet classified listing websites can be just as effective and convenient. You can sell anything you want online nowadays. You can get rid of an old piano that’s taking up way too much space in your living room. You can get rid of a bicycle that you no longer ride as well.

Sell Your Old Car

Do you have an old vehicle that’s simply wasting valuable space in your garage? Why not sell it to earn some cash? There are many reputable companies that give people cash for their old cars. 

Selling your old, used car is a simple process for most people to take on. They often purchase vehicles regardless of factors such as condition, mileage, and features as well.

Head to a Pawn Shop

Do you have used jewelry that no longer captivates you the way it did in the past? You can probably sell it for cash at a nearby pawn shop. Look for reliable and credible pawn shops in your area. Pawn shops can make fine choices for people who want to rapidly get their hands on cash.

Something that’s useless to you may be gold to another person. If you need to save cash, take a look at all the things around you that you just don’t need or use.

5 Common Credit Score Myths to Consider

When it comes to credit scores and credit reports, the so-called “conventional wisdom” is full of common myths and flat-out inaccuracies. The fact is, some of the most common misconceptions can actually hurt your score. With that said, here are five common credit score myths to consider.

Myth: Improve Your Score by Closing Unused Credit Cards

Many consumers believe their credit scores will improve if they close unused credit cards. The truth is, closing an unused account could hurt your score. Credit scoring models place a big emphasis on your credit utilization ratio. 

This is the ratio between the amount of available credit to you and the total credit you actually use. If you have a low credit utilization ratio, you will have a higher score. 




If you close an unused credit card, that reduces a portion of your available credit, which can increase your credit utilization ratio and lower your credit score.

Myth: There’s Only One Universal Credit Score

The truth is, there is a wide array of credit scoring models that issue countless credit scores. However, the most recognized credit score is the one issued by FICO. For example, most mortgage lenders will use your FICO score to determine your creditworthiness. 

By contrast, if you are looking for a bad credit auto loan, a lender might use the VantageScore 3.0 credit scoring model. The point is, there is not one score that applies to every consumer.

Myth: Income Determines Credit Scores

Your income has nothing to do with your credit score. Most credit scoring models do not consider your income when issuing a credit score. What does impact your score is your payment history, credit utilization ratio, age of credit and credit inquiries. 

However, if you earn plenty of income, a credit score may not matter much in terms of your buying power.

Myth: The Federal Government Runs Credit Bureaus

Although there are laws that regulate how the three major reporting agencies, TransUnion, Experian and Equifax report credit, the federal government has nothing to do with the day-to-day operations of the reporting agencies. FICO is also an independent company that has no ties to the government.

Myth: The Credit Bureaus Report Good and Bad Credit

This myth really confuses many consumers. In truth, the credit bureaus make no determination that your credit is either good or bad. The bureaus merely compile credit information provided to them by lending institutions. From there, other lenders will use the information in your credit report to determine your level of creditworthiness.

There are many other common misconceptions in the world of credit reports, so it is vital that you do your homework before applying for your next loan or credit card. Arm yourself with the facts, and do not believe everything you hear or see about credit scores and credit reports.

Crowdfunder Success Stories of 2017

The Internet is a perfect vehicle for anything that requires connection with a large number of individuals, so crowdfunding has benefited the lives of many people in the recent years. Here are some successful examples of both business and humanitarian crowdfunding campaigns in 2017.

SONDORS Electric Bike

Raised over a million dollars from more than two thousand people. 

While electric cars are slower and more expensive than their petrol-consuming counterparts, electric bikes are gaining popularity among those riders who fancy their bikes more as a transportation device than as a piece of training equipment. 

Affordable and with a thin lightweight frame, it contains a 350W motor and it can achieve the speed of up to 32 km/h.

GoHenry Children’s Money Card

Children’s money card and app aimed to help parents financially educate their children from an early age. 

The campaign was planned to raise 2 million pounds but ended up raising twice as much. The application has a parent account and a child account. 

Parents can set up regular weekly payments into their kid’s account and monitor and influence their habits by introducing and removing spending limits, restricting where the money can be spent, offering tasks as a way to encourage the kid to work for some extra cash. 

The kids can set saving goals and the app provides graphical charts to tell them how well are they following their plan. Because it is also a regular VISA card, the kids can spend money online within the predetermined rules. If the rules are broken, the application provides an explanation what was done wrong.

Roccbox Portable Oven

Another great idea based on creating a light version of an otherwise expensive and complicated product. A portable oven which produces restaurant-quality pizza in 90 seconds. 

It can also be used to prepare meat, fish, vegetables, and many other types of food. This product was envisioned by Tom Gozney of Gozney Ovens, and funded by more than two thousand people, raising in excess of a million dollars. 

However, the success didn’t come overnight. Gozney and his team experimented with different versions of the oven since 2012 before launching the campaign last year. The oven can be fueled by gas or wood. 

Its main feature, besides being portable, is its interior made of special thermal elements which contain the heat within in a way similar to a traditional stone bake oven.

Elijah DeVaughn Enrolled into Harvard

Kids who grow up in neighborhoods like Compton, California have very little chance to enroll into prestigious universities. But Elijah DeVaughn didn’t give up his dreams and thanks to a humanitarian fundraising campaign . 

They collected $21,000 dollars and managed to get into the university which produced many Nobel Prize laureates, US presidents, and world’s foremost scientists. The crowdfunding is still underway, raising money for his books, clothes, and other ongoing schooling expenses.

Startup Stock Exchange

An innovative approach to both crowdfunding and investing in the share market. The funds are converted into stocks, providing the holder better liquidity than the usual equity crowdfunding ventures, since the stocks can be sold at any time. 

Companies like SSX are using this new investment product to find their place in the business dominated by major online trading platforms like TD Ameritrade, CMC Markets, and others.

PopSLATE 2 – Smart Second Screen for iPhone

Designed for iPhone 6 and 6+, popSLATE offers a unique full-screen e-ink display, e-reader, easy access wallet, reduced battery usage, touchscreen, dashboards, newsfeeds and many other features. 

The model is an improved version of the original popSLATE which was released in 2015. 

The second model had much more success than the first, mostly thanks to the crowdfunding campaign on Indiegogo, which raised more than a million dollars.

Repossession Company Worker Raises Funds to Return an Wlderly Couple’s Car

Jimmy Ford has been working as a repo man for twenty years. When he had to repossess a 1998 Buick from the Kipping family, a couple in their eighties, and heard their story, he felt he needed to do something about it. 

In the most unusual act of kindness, he started a crowdfunding campaign and managed to raise 28000 dollars for the return of their car. 716 people contributed, and it took five months to raise the whole sum.