Banking
Bank account that earns interest and is used to save money.
What is a savings account?
Share of ownership in a company.
What is a stock?
The form used to report annual income to the Government.
What is a 1040?
Term used for the process of creating a plan for how to spend and save money.
What is a Budget?
Type of insurance that is used to protect against damage or loss to one's home.
What is homeowner's insurance?
The type of loan that is backed by a home.
What is a mortgage?
The strategy of spreading investments across different asset classes to reduce risk?
What is diversification?
Percentage of you monthly income commonly recommended for discretionary spending, such as entertainment or dining out.
What is 20%?
What is 3 to 6 months?
The fraudulent practice of using another person's personal information for financial gain.
What is Identity Theft?
What does a bank pay to an individual who deposits money into a savings account?
What is interest?
This account allows individuals to make tax-deductible contributions and grow their investments tax-free until retirement.
What is an IRA?
A document that outlines an individual's financial goals and strategies to achieve them.
What is a financial plan?
When should one start saving for retirement?
Immediately
When the level of prices continues to go up.
What is inflation?
Rate charged on credit card unpaid balances.
What is APR - Annual Percentage Rate?
The age at which one can begin to withdraw money from a retirement account without penalty.
What is 59.5?
The difference between an individual's total income and their allowable deductions.
What is taxable income?
A person who starts a new business and assumes all the risks and rewards of the business.
What is an Entrepreneur?
Tax levied on the value of an estate after someone dies.
What is estate tax?
Tax form used to report interest payments to individuals.
What is a 1099?
The total value of goods and services produced within a country in a given time period.
What is GDP - Gross Domestic Product
Retirement account that allows individuals to contribute after-tax income and enjoy tax-free withdrawals in retirement.
What is a ROTH IRA?
What you own minus what you owe?
What is Net Worth?
The largest stock exchange in the world.
What is the NYSE? New York Stock Exchange