Baby Steps
Saving $1000
What is Baby Step 1?
The amount of adequate life insurance.
What is 10x your annual income?
A down payment of 20% ensures this type of loan to finance your home.
What is a Conventional Loan?
The amount God says we should tithe.
What is a tenth of your increase?
The best retirement investment account.
What is a Roth IRA?
Saving 3-6 months of expenses.
What is Baby Step 3?
Insurance that covers lost income if you’re unable to work for a long period of time due to an illness or injury.
What is long-term disability insurance?
This is type of loan application is recommended for those without a credit score.
What is Manual Underwriting?
God owns it all. We are just asset ____ for the Lord.
What is managers?
The amount of your household income to invest in retirement.
What is 15%?
Paying off all your debts except your house using the debt snowball.
What is Baby Step 2?
The recommended coverage on your auto insurance that includes: collision, comprehensive, and liability.
What is Full coverage?
If you get a mortgage, this is the recommended number of years and loan rate.
What is 15 year fixed-rate loan?
Giving does not only refer to money but includes 2 other ways.
What is your time and talents?
Name a mutual fund that is best described as being the oldest & calmest.
What is Growth & Income?
Build wealth and give.
What is Baby Step 7?
You need this policy if you have a net worth of at least half a million dollars.
What is an umbrella policy?
Your mortgage payments including HOA, insurance and taxes should be no more than ___ of your take-home pay.
What is 25%?
The ______ in financial peace comes from outrageous generosity.
What is peace?
DAILY DOUBLE
Name a mutual fund that is best described as the “wild child”.
Invest 15% of your income in retirement.
Save for your children’s college fund.
Pay off your home early.
What is Baby Step 4, 5, & 6?
This insurance covers assisted living care, in-home care and nursing home care.
What is long-term care insurance?
The real estate agent you hire should close on at least ____ houses a year.
What is 30 houses?
DAILY DOUBLE
A generous person will prosper; whoever refreshes others will be refreshed. Name the book in the Bible where this verse is found.
Name the mutual fund that’s best described as “overseas” and “small cap”.
What is International?