Financial Planning
This is the most common goal people financially plan for.
What is retirement
This constitutes ownership of a publicly traded company
What is a stock
This is the agency that collects all federal taxes
What is the IRS
A statement of the financial position of a business on a specified date
What is a balance sheet
This molecule makes up 78% of the atmosphere we breathe
What is nitrogen
These are the two things one must have in order to have success.
What is a goal and a plan
These securities constitute a loan to a corporation, government, or municipality
What is a bond
These are the two types of income
What is earned and unearned
The laws governing the minimum standards for retirement and health plans in the private sector
What are ERISA laws (Employee Retirement Income Security Act of 1974)
This is the only letter to not appear in any US state name
What is Q
This is meant to cover 40% if your income in retirement
What is social security income
This obligates parties to buy or sell an asset at a predetermined future date and price
What are futures contracts
This standard increases the tax rate as income increases
What is a progressive tax
These are the funds needed to pay for raw materials, day-to-day running costs, and credit offered to customers
What is working capital
A black hole with a diameter of 0.69 inches would weigh as much as this
What is the Earth
This is a vehicle that allows tax-free distributions
What is a Roth IRA
These debt securities are tax exempt
What are municipal bonds (muni bonds)
This tax was first enacted to pay for the civil war
What is the income tax
This is the maximum annual additions to a defined contribution plan in 2023 (401k)
What is $66,000
These space particles travel from other stars and galaxies, and are responsible for computer issues
What are cosmic rays
This is the full retirement age for social security if you were born in 1960 or later
What is 67
These are the two ways ownership builds wealth
What is appreciation and dividends
This was once the highest marginal tax rate in the US
What is 94%
This is the strategy for passing leadership roles to one or more employees while minimizing risk to the business
What is succession planning
This business is the second largest purchaser of explosives in the world, after the US military
What is Disney