RETIRE ME NOW
AT WHAT AGE CAN YOU MOVE YOUR MONEY IF YOU ARE STILL ON THE JOB?
59 1/2yrs or 59.5yrs
THIS PRESENTATION IS CALLED "THE HUSTLE" BY RODOLFO IN BAMBOO, WHAT IS IT IN CHICAGO?
THE CRUSADE
WHAT IS THE MINIMUM AMOUNT REQUIRED TO PAY FOR A MONTH TO MONTH ANNUITY?
$100/MONTH
WHAT IS A CONTRACT BETWEEN YOU & AN INSURANCE COMPANY IN WHICH YOU MAKE A LUMP-SUM PAYMENT OR SERIES OF PAYMENTS & IN RETURN, RECEIVE REGULAR DISBURSEMENTS, BEGINNING IMMEDIATELY OR IN THE FUTURE?
AN ANNUITY
THIS TYPE OF PRODUCT/ACCOUNT HAS LITTLE TO NO CONTRIBUTION LIMITS WHEN SET UP PROPERLY.
7702, LIRP, PERMANENT OR CASH VALUE LIFE INSURANCE
WHAT ARE POST-TAXED FUNDS FOR A ROLL OVER CALLED?
UNQUALIFIED FUNDS
NAME THE 3 TAX BUCKETS
*PRESENT IN 2-3 MINS*
TAX NOW
TAX LATER
TAX NEVER
THESE FUNDS CAN'T BE MIXED INTO THE SAME ACCOUNT, WHAT ARE THEY?
PRE-TAX & POST TAX FUNDS
OR
QUALIFIED & UNQUALIFIED FUNDS
WHAT ARE THE 2 STAGES OF AN ANNUITY?
ACCUMULATION STAGE & DISTRIBUTION STAGE
WHAT IS THE CONTRIBUTION LIMIT FOR EMPLOYEES WHO PARTICIPATE IN 401(k), 403(b), & MOST 457 PLANS AS WELL AS THE THRIFT SAVINGS PLAN (TSP) IN 2024?
$23,000 OR $23K
WHAT ARE PRE-TAXED / UNTAXED FUNDS CALLED DURING A ROLLOVER
QUALIFIED FUNDS
RICH DAD, POOR DAD TAUGHT US TO USE THIS PRESENTATION TO UNDERSTAND HOW MONEY IS EARNED OR WORKS
*PRESENT IN 5 MINS OR LESS*
CASHFLOW QUADRANT
EMPLOYEE, SELF EMPLOYED, BUSINESS OWNER, INVESTOR
WHAT IS SILAC's MINIMUM AMOUNT REQUIRED TO OPEN AN ACCOUNT?
$10,000 or $10K
WHAT TYPE OF ANNUITY IS A TAX-DEFERRED ANNUITY CONTRACT THAT ALLOWS YOU TO INVEST YOUR MONEY INTO SUB-ACCOUNTS, SIMILAR TO THOSE IN A 401(k)?
VARIABLE ANNUITY
IN 2024, WHAT IS THE CONTRIBUTION LIMIT FOR IRAs.
$7,000 or $7K
WHAT IS THE RETIREMENT ACCOUNT FOR FEDERAL EMPLOYEES & MEMBERS OF THE ARMED FORCES?
TSP (THRIFT SAVINGS PLAN)
WHAT ARE THE 3 WAYS THAT MONEY GROWS & THEIR PROS & CONS
*PRESENT IN 2-3MINS*
FIXED : (+) Safe (-) Little/No Growth
VARIABLE : (+) Growth Potential , (-) No Safety
INDEX : (+) Safety , (+) Growth Potential , (-) Ceiling
A provision in the Internal Revenue Service (IRS) code allowing for a tax-free transfer of an existing annuity contract, life insurance policy, long-term care product, or endowment for another one of like kind is called what?
1035 Exchage
WHAT TYPE OF ANNUITY REQUIRES YOU TO PAY A LUMP SUM TO RECEIVE GUARANTEED INCOME RIGHT AWAY?
AN IMMEDIATE ANNUITY
AT WHAT AGE CAN YOU USE THE CATCH UP PROVISION TO ADD MORE MONEY TO YOUR RETIREMENT ACCOUNT BEYOND THE FEDERAL LIMITATIONS?
50 YEARS & OLDER
WHAT RETIREMENT ACCOUNT ALLOWS FOR TAX FREE WITHDRAWALS, BUT HAS FUNDING LIMITATIONS
ROTH ACCOUNTS (401(k)s, IRAs, etc).
WHAT ARE THE 5 GOTCHAS (IN ORDER?)
*PRESENT IN UNDER 5 MINS*
LOSSES , HEALTHCARE , TAXES , INFLATION , PROCRASTINATION
L.H.T.I.P.
What is called, when you withdraw cash or other assets from one eligible retirement plan and contribute all or part of it, within 60 days, to another eligible retirement plan?
A ROLLOVER
WHAT TYPE OF ANNUITY REQUIRES YOU TO PAY A LUMP SUM OR INCOME PREMIUMS TO RECEIVE GUARANTEED INCOME AT A SET FUTURE DATE?
A DEFERRED ANNUITY
FOR 50+YR OLDS, WHAT IS THE CATCH UP CONTRIBUTION LIMIT FOR MOST PRODUCTS OUTSIDE OF SIMPLE PRODUCTS?