Introduction
This is what you must give up to acquire what you want.
What is opportunity cost?
This type of tax structure has everyone pay the same percentage of tax.
What is proportional?
This is the term for the monthly (or annual) cost of purchasing insurance protection.
What is a premium?
These are the three guidelines or principles of investing.
What are start early, buy low/sell high, and diversify?
These are the two types of IRAs.
What are traditional and Roth?
This is the term for having a positive net worth.
What is solvent?
Income taxes can be reduced dollar for dollar with this.
What is a credit?
Someone with a high premium will have a _____ deductible.
What is low?
A stock that appreciates in value faster than its competitors are known as this.
What is a growth stock?
This type of retirement account is set up by an employer and sometimes offers a match.
What is a 401(k) or a 403(b)?
This is the term for having a negative cash flow.
What is a deficit?
These are two popular tax deductions.
What is saving in a retirement fund, using a HSA or FSA card, saving for college in a 529 account, paying for daycare, etc.?
These are the three types of required car insurance.
What is property damage liability, bodily injury liability, and uninsured motorist?
This is a blend of stocks, bonds, and other assets that are well-diversified.
What is a mutual fund?
If you do not want to pay taxes when you retire, you should choose this type of retirement account.
What is a Roth IRA?
This is the least liquid type of account insured by the FDIC.
What is a Certificate of Deposit (CD)?
Everyone paying a $20 fee to register their car is an example of this type of tax structure.
These are two services that are covered by health insurance free of charge.
What are an annual physical, basic vaccinations, some basic medications, cancer screenings, etc.?
This is a well-established company with a very large market cap and reliable performance in the market.
What is a blue-chip company?
This is why it is important to start saving for retirement in your 20s.
What is compound interest?
This action makes up the largest percentage of your credit score and is therefore the most important way to raise or build it.
What is paying your bills on time?
Income tax brackets, where higher income people pay a higher percentage of taxes, demonstrate this tax structure.
What is progressive?
This type of insurance will pay your loved ones if you unexpectedly die.
What is life insurance?
This is the name of one of the three major stock indices in the US.
What is the S&P 500, Dow Jones Industrial Average, or Nasdaq?
Retirement experts suggest you should have this amount of money saved for retirement.
What is roughly 10 times your annual salary?