Planning for Retirement
These two types of IRAs can help you plan for your retirement
What is a Roth and Traditional IRA
This limit is specified by your bank and has a maximum amount you can borrow.
What is a credit limit?
This is one of many types of insurance one can buy to protect themselves.
What is fire insurance, medical insurance, health insurance, life insurance, car insurance, pet insurance, house insurance, etc.
These three types of things are very common needs and desires the average American will save for.
What is a new car, a mortgage, education, vacation, emergencies, medical bills, or rent.
This term is used to when you invest your money in many different types of places such as stocks, bonds, etc.
What is diversifying?
This retirement account is often established by your employer and allows you to contribute a certain amount of your paycheck every pay period
What is a 401K?
This score is used to calculate a person's credit.
What is a credit score?
This is a list of things that your insurance pays for either partially or in full. It protects users of this insurance from having to pay out of pocket for important expenses.
What is coverage?
These are non-negotiable expenses that you must pay each month. They often include things such as rent, insurance, utilities, etc.
What are fixed expenses?
This is a part of a company that you can buy and legally own in return for part of the company's value.
What is a stock?
This dollar amount is the maximum amount of money you can deposit into your IRA account every year.
What is $7,500
Young adults moving into a new apartment or house for the first time must go through this type of check during the application process.
What is a credit check?
This is the term for the amount of money a person must pay each month to continue to have full access tho their insurance coverage and benefits.
What is a premium?
This savings account has a high APY
What is a high yield savings account?
This type of fund is a collection of stocks and bonds.
What is a mutual fund?
What is the public pension fund in Ohio called?
What is OPERS?
This is a reward that gives a certain percentage of money back each time a person uses their credit card on a purchase.
What is cashback?
In medical insurance this term refers to the group of people or organizations that your insurance will cover. In a sentence you would say: You doctor is in *blank*
What is a network?
The x/x/x rule specifies how much money you should save from every paycheck
What is the 50/30/20 rule?
This is one of many different types of brokerage companies you can invest your money with
What is Fidelity, Robinhood, Vanguard, Charles Schwab, or Morgan Stanley?
This percentage amount is charged each time you withdraw from your retirement account
What is 10%
This phrase is often turned into the acronym APR
Annual Percentage Rate
The *blank* is the fixed rate you pay for a service as long a *blank* has been paid.
What is a copay and decductible?
This on-campus partner at UC has peer financial coaching to help students with their personal and academic finances. They include debt management, credit, saving, budgeting help and more.
Who is The Student Wellness Center?
This is when you give a company a certain amount of money and after, 5, 10, 15, or more years they will return your money, often with added interest.
What is a bond?