Retirement 101
The most commonly used retirement account for individuals.
What is an Individual Retirement Account (IRA)?
Another word for not having money left over at the end of the month.
What is a Deficit?
This is Briana's husband's name.
What is Jude?
This ensures that your loved ones can survive/thrive if you die.
What is Life Insurance?
A terrible thing to do when the stock market is going down or near the bottom.
What is selling investments/going to cash?
A retirement plan for companies that isn't so simple.
What is a SIMPLE IRA Plan?
Another word for having money left over at the end of the month.
What is a Surplus?
A little white floof with a big personality.
Who is Raymond?
This ensures that you can maintain income if you are unable to work.
What is Disability Insurance?
A terrible thing to do when the market is at all-time highs.
What is putting all of your cash in the market at once?
An individual IRA account that allows you to avoid taxes later.
What is a Roth IRA?
The things you have to spend money on to survive.
What are Essential Expenses?
A midsized black floof with an easy-going personality.
This tells your loved ones and doctors what you want to happen if you are incapacitated in the hospital.
What is an Advance Health Directive?
Building your investment portfolio to include stocks and bonds from all sectors.
What is diversification?
The most commonly used retirement account for Sole Proprietors.
What is a SEP IRA?
The things you spend money on to thrive.
What are Lifestyle Expenses?
Briana's least-favorite work-related activity.
What are meetings that could have been an email?
This allows a trusted person to speak on your behalf with financial institutions if you are incapacitated or mentally unsound.
What is a Durable Power of Attorney?
The potential for investments to fluctuate or lose value.
What is Market/Systemic Risk?
This is Briana's favorite type of retirement plan.
What is a 401k?
This is directly impacted by having a working monthly budget.
What is Cash Flow?
Briana's favorite non-work-related activity.
What is being outside in nature?
This allows your property and assets avoid probate upon your death.
What is a Trust?
Investing cash in the market in regular amounts at regular intervals over time (aka, the smartest way to invest).
What is Dollar Cost Averaging?