Budgeting
This two word phrase is used to describe bills that don't change in price every billing period.
What are fixed expenses?
The credit union you bank at has recently closed and you would like to get your money back. Which regulatory agency will help you retrieve funds held by the closed credit union?
(Bonus: if you write down it's proper title)
What is the NCUA?
National Credit Union Administration
This is how much you would have if you saved $100 a week for a year.
What is $5,200?
This plan is related to education but can sometimes be rolled over into a retirement account.
Daily Double! - place bet carefully
What is a 529 plan?
You are an older investor with minimal time until retirement. Name two investments that match your risk tolerance.
What are bonds, conservative mutual funds, cds, or high yield savings accounts.
This is paid if you withdraw from a Certificate of Deposit before the end of the agreed term.
What is a penalty?
You will see this on your bank statement to let you know that it is an automatic bill payment.
(bonus points if you write down its proper name.)
What is ACH?
Automated Clearing House (a U.S. nationwide electronic network for processing financial transactions between banks and other depository institutions.)
You can set aside $50 each month and put it in this account available to you at your bank that offers you the highest potential for compound growth.
What is an IRA? Will accept Traditional or Roth IRA
This is what happens to your premium in variable life insurance.
What is pays for insurance cost and the rest is invested?
This retirement benefit provides you with lifetime income?
What is a pension?
This fancy word is often used in finance but you could just use the word wants instead since we are talking about 30% of your income.
Daily Double! - make sure to bet your amount
What is discretionary?
This word on your bank statement means the transaction is recognized but not yet fully processed by the bank.
What is pending?
Gus wants to purchase a $936 laptop for his fiancée's birthday. He has until March to save up. July is just starting and he is paid semi-monthly. This is how much he must save from each paycheck.
What is $52?
If you put $10,000 into a mutual fund that grows at 12% each year this is how long it takes to have $160,000.
What is 24 years?
To help you decide how much to withdraw from your retirement you must use this principal.
Bonus points if you can tell me how much that is a month for three quarters of a million dollars.
What is the 4% principal? And what is $2,500?
Billy is building a 6 month emergency fund. He gets paid $1,850 semi-monthly. This is how much will be in his fund when it is completed.
What is $11,100?
A rise in the federal rate does this to adjustable-rate mortgage payments.
What is increase?
This three word mantra means to prioritize your future and yourself when it comes to budgeting.
What is pay yourself first?
What type of asset is an investment option named Liberty Global Equity Fund?
What is a mutual fund?
When can you start investing your HSA fund?
What is once you have certain balance in the account. ($1,000 to $2,000)
This percentage is the recommendation for how much of your pre-tax income should go into an IRA or 401(k).
What is 15%
This branch of government makes sure that national banks follow the rules.
What is the OCC or the Office of the Comptroller of the Currency?
Jewels that need to pay their utilities? This T.B. is a short term government security that can be invested in through a money market.
What is a treasury bill?
Future Equity 2084 fund is this type of investment asset.
Bonus points if you describe the level of risk associated and the length of the time horizon with this asset.
What is a target-date fund?
Adjusted for High risk and a long (59 years) time horizon
You are 60 and decide to retire. You have a Roth IRA you must pay these penalties and or taxes.
Bonus points for providing correct reasoning
What are none?
Full retirement is 591/2 and you don't pay taxes on withdrawals for a Roth (you paid taxes on the $ you put in)