What is $1000 in an emergency fund (or $500 if you make less than $20,000 a year?)
100
IRA
What is an Individual Retirement Arrangement?
100
ESA
What is Educational Savings Accounts?
100
Rollover
What is the movement of tax-deferred retirement money from one plan to another?
100
Wealth Building
What is long-term investing after emergency fund is fully funded?
200
Baby Step 2
What is Paying off all debt except the house utilizing the debt snowball?
200
One grows tax free the other doesn't.
What is the primary difference between the Roth IRA and a traditional IRA?
200
Use the child's name and the parent as the custodian.
What name should be listed on the college savings account?
200
403(b)
What is a retirement plan found in non-profit groups (schools, hospitals)?
200
Tax-favored
What is a qualified plan or an investment that has a special tax treatment?
300
Baby Step 3
What is three to six months of expenses in savings?
300
IRA that grows tax free.
What is a Roth IRA?
300
Four ways to avoid student loan debt if you do not have a college fund.
What is scholarships, part-time job, military, work for a company that pays for tuition, go to school part-time, do well on SAT/ACT?
300
SEPP
What is a retirement plan for self-employed people. Simplified Employee Pension Plan.
300
Direct transfer into an IRA or Rollover.
What is the best option for your retirement plan when you leave a company?
400
Baby Step 4
What is Investing 15% of household income for retirement?
400
Your best investment option if your company does not provide any type of 401(k) match.
When should you invest the maximum amount allowed in a Roth IRA first?
400
The best way to save for your children's college using this type of plan.
What is tax-favored plans?
400
Save for college by first using this type of account.
What is ESA or Educational Savings Account?
400
Using Rule of 72 it is going to take 6 years to double my investment.
What is 12% interest rate?
500
Baby Step 5
What is College Funding?
500
A tax treatment on virtually any type of investment. It protects or shelters your money from taxes.
How does an IRA Work? (Remember the analogy of the coat that keeps the investment warm.)
500
Three "nevers" of college savings.
What is pre-paid tuition, insurance or savings bonds?
500
UTMA
What is Uniform Transfer Minors Act?
500
Should not depend on as retirement money because does not provide a large sum of money each month. There is a maximum amount you are allowed to collect and, in most cases, that amount will not support your standard of living.