Benefit Options Form

You still need contingency plans in case the person with the pension plan doesn’t work at that job long enough to qualify, the plan goes bankrupt, you get divorced, the person dies and the spouse gets a reduced benefit (or none), etc.Better to have too much than too little - you can always leave or give some to the kids.

How to get regular income after retirementA retirement investment plan that is a mix of products like small saving schemes, mutual funds and reverse mortgage can assure a steady monthly income for senior citizensWith rising life expectancy in India, post-retirement life span is now longer than what it was earlier. According to the latest World Bank data, life expectancy in India has risen from 53-54 years in 1980 to 67-70 years in 2015. Living longer has a direct impact on your financial preparedness for retirement. While many will have an accumulated pension to fall back on, the truth is an annual price rise or inflation of 5-6% combined with the prospect of potentially living for another 20-25 years post retirement can become an expensive outcome.A basic need for retirees is regular income. You need to take that accumulated pension amount, other savings you have piled up over the years and assets you have created and make them into a viable stream of regular income. Large expenses like medical contingencies need to be accounted for before you estimate your regular income need, else these expenses can eat into your retirement savings. “We find that many who retire haven’t planned any medical insurance. With health costs rising, this is a risk that needs to be covered. If both spouses are not fit enough for mediclaim application to be accepted, the one who can should cover medical expenses through a policy. In its absence, a larger pool of funds will have to be kept aside for medical emergencies," said Vivek Rege, founder and chief executive, VR Wealth Advisors Pvt. Ltd.Financial savings and assetsAmong traditional investment choices for senior citizens are Bank fixed deposits, Senior Citizen Savings Scheme (SCSS) and National Savings Certificate (NSC). Bank FDs give senior citizens an advantage by giving an interest rate that is 25-50 basis points higher than what other individuals get. The 8.3% interest on SCSS is also attractive. One basis point is one-hundredth of a percentage point.After allocating to traditional investments and pension plans which cater to capital preservation, consider mutual fund investments as well—they are liquid, they help you get regular payouts and let you access the lump sum in case of any emergency. For debt funds, your holding period can be between 6 months and 3 years, equity and balanced funds will require you to remain invested for at least 5 years.Yogita Dand, Mumbai-based certified financial planner and co-founder, Ask Y Financial Services, said, “Invest in SCSS and Pradhan Mantri Vaya Vandana Yojana, in which you can invest up to ₹ 15 lakh. With the rest, create systematic withdrawal plans (SWPs) from investments in large-cap equity or balanced funds." An SWP from an equity-oriented fund works if you have invested in equity before and have accumulated profits. Given the need for capital preservation post retirement, if one does not have any equity exposure, then SWP should be done from short-term income funds or other fixed income funds that give stable returns.Physical assetsTraditionally, most Indian families invest in a house. In many cases, people own a house but have inadequate cash flow to meet their expenses or lifestyle, but still do not want to move to a new smaller house or on rent. For such persons, there is reverse mortgage.To opt for reverse mortgage, you must be the home owner and above 60 years of age. It’s like mortgaging your house to the bank, and getting a loan which comes to you as regular payouts. The eligibility depends on age, value of the property, interest rates and tenure of payout. The tenure can be for up to 20 years; the longer the tenure, the lower will be the payout.Punjab National Bank, for example, pays ₹ 435 per lakh per month and ₹ 101 per lakh per month for a tenure of 10 and 20 years, respectively. For a ₹ 80 lakh loan, this will come to a monthly payout of ₹ 34,800 for 10 years and ₹ 8,080 for 20 years. The current rate is about 11.35% per annum, and is revised every five years. Even if the tenure gets exhausted, you can continue living in the house. On death, legal heirs can keep the house by repaying the loan with interest. Else, bank can sell the house to recover the dues and pay the remaining to the legal heirs.It’s been a decade since reverse mortgage was introduced in India, but there are few takers for it.. “There is lack of awareness, neither the government nor the lenders ever tried to make it popular. Low payout, lack of understanding and complex process of borrowing are other deterrents," said Manoj Pandey, director, Mainstream Investments Advisors Pvt. Ltd, a Delhi-based financial planning and wealth management firm.What you should doRemember that structuring a SWP, choosing appropriate funds or even deciding to go for a reverse mortgage is not simple.Your mix of fixed-return products like FDs, small savings schemes and annuities and market-linked products like debt and equity mutual funds will depend on your existing savings pile and your need for capital preservation.Also, fixed return products work best if you are in the 10% or 20% income tax bracket. For those paying 30% plus income tax, a mix of mutual funds is more efficient. Don’t lock all your money in locked-in products like deposits, bonds and annuities.Read more articles visit Market Updates

Depends on the nature of your business and how it is structured.If you own an LLC taxed as a passthrough entity, then you probably will check option b and submit the W7 along with your US non-resident tax return. If your LLC’s income is not subject to US tax, then you will check option a.If the business is a C Corp, then you probably don’t need an ITIN, unless you are receiving taxable compensation from the corporation and then we are back to option b.

There is no option available at formBut phases are decidingWhich phase are in which building are pre decideBut probably all phases of achiever are start in satyarth.

Before you invest an IRA in these securities (yes, they are securities), you really need to understand what they are. And that they are nothing new. Banks have been doing exactly this with mortgage loans, auto loans, credit cards, and any other kind of receivable you can think of. (And pension plans have been investing in these “asset-backed securities” for the past 40 years.) The only thing that may be new about this one is the active marketing as an investment specifically to IRAs.Very briefly, the way it works is as follows. The lending company makes or purchases hundreds (or thousands) of loans — usually of a certain type. The promissory notes representing those loans are assets, and are transferred to a “pool” owned by a trustee. Finally, interests, or “shares” in that pool are issued, each one representing a X% interest in each loan that makes up the pool. So, if someone purchases a 1% interest in the pool, they now own 1% of each of the notes (i.e., each of the loans) that make up the pool. The investment is administered (and apparently is being marketed) as if you are simply investing in the pool itself, but that’s not what is happening from a technical standpoint — and that’s where the problems arise.By investing in 50, or 100, or 1000 notes that make up the pool, your IRA is lending money (i.e., extending credit) to 50, or 100, or 1000 people (the borrowers under the notes), and you don’t know, or actually care, who those people are. Nor, I suspect, could/would the lending company even tell you if you asked. The reason why this is important is that there are a lot of people (known as “disqualified persons”) with whom your IRA cannot enter into a credit relationship; doing so would constitute a “prohibited transaction”, and depending on who the disqualified person is, would either disqualify the IRA or else result in some pretty serious excise tax penalties.For example, let’s say, for the sake of argument, that, unbeknownst to anyone, your VISA bill found it’s way into the pool in which your IRA bought an interest. Or your daughter-in-law had once borrowed money from the lending company and that loan is in the pool. In either case, you’ve got a prohibited transaction. (Pension plans got around these kinds of problems by obtaining exemptions from the Labor Department; that’s not the case here.) I have no idea if, or how, Lending Club deals with this or similar problems, but my suspicion is that they don’t.