Makin' It Grow
Represents ownership in a company
What is a stock
This account grows tax deferred
What is an IRA?
What you own - what your owe
What is net worth?
It is the purest form of life insurance
What is Term Life Insurance?
Financing for a car that matures between 3-7 years
What is an auto loan?
You are a creditor to the company
What is a bond?
This account grows tax free
What is an Roth IRA?
This is a key to your financial plan. It is used to forecast net cash flow.
What is a budget?
A form of permanent life insurance that has a savings component
What is whole life insurance?
A type of credit card that is funded with your personal cash.
What is a secured card?
A pooled investment that may carry a front- or back-load fee.
What is a mutual fund?
You can take it as early as age 62
What is social security?
Method in which we distribute assets while we're living and after death
What is estate planning?
What is Medicare?
This ranges between 350-850
What is a credit score?
Nasdaq & NYSE are types of
What is an exchange?
A type of employer-sponsored plan that you are responsible for managing
What is a 401k?
This gives someone authority to act on your behalf
What is a power of attorney?
A form of insurance that kicks in if you're unable to work due to an accident for an extended period of time.
What is disability insurance?
This makes up 30% of your credit score.
What is credit utilization?
This is your greatest ally in managing risk
What is diversification
This account is used for health care expenses but once your 65 years old it can be accessed outside of medical expenses
What is a Health Saving Account (HSA)?
This avoids probate
What is a trust?
There are 6 key components that are similarly found in a renters insurance
What is home insurance?
When you are no longer required to repay back your due to a court order and remains on your credit for 10 years
What is Bankruptcy 7?