Baby Steps
Wealth Building
Investment Options
Wealth building
&
College Savings
Fun FActs!
100
$1,000 in an emergency fund.( $500 if you make less than $20,000 a year)
What is Baby Step 1?
100
Pre-Authrized Checking
What does "pac" stand for?
100
Means to spread Around
What is diversification?
100
Special Tax treatment
What is a Tax-Favored Plan?
100
This is the least liquid of consumer investment (Real Esate)
What is the most liquid of investments?
200
Baby Step #3
What is three to six months in expenses?
200
Purchases
What is the second thing you saved money for?
200
Money markets, the carry a low risk
What is a good account for an emergency fund?
200
15% of my household income
What is the correct % to invest in my roth Ira And pre-Tax retirement plan?
200
If it can go Wrong, It will
What is murphys law?
300
College Funding
What is Baby step #5
300
A sinking fund, save the money before you buy the item
What is a good approach for making a purchase?
300
Debt insterment by which the company owes you money
What is a bond?
300
fund this with pre- tax dollars
What is a Traditional Ira?
300
This is found in non-profit orgazations, such as:schools, churches and hospitals
What is a 403(B)?
400
Pay off your home early!
What is Baby step #6
400
Discipline
What is the key of savings?
400
we "share" or pool our money
What is a mutual fund?
400
A fund with after tax dollars.
What is a Roth Ira?
400
An educational Savings Account
What is an ESA?
500
Pay off all debt execpt the house utilizing the debt snowball
What is Baby step 2?
500
This works over time and the rate of return will make a diffrence in how large your investment grows
What is Compound Intrest?
500
cerificate of depsit
What is a C.D?
500
$5,000
What is the maximum annual ccontrobution for an Ira?
500
Borrow Against it!
What is something you should never do on your retirement plan?
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