CFMA Trivia
The department/college that the CFMA is associated with.
What is the Smith School of Business?
This retirement account is employee sponsored.
What is 401k, 403b, 457b?
The best time to start saving is
Now!
CFMA stands for...
What is Collegiate Financial Management Association?
This retirement account has tax-free withdrawals.
What is ROTH IRA?
Interest earned on both the initial principal and the accumulated interest from previous periods or "interest on interest"
What is compound interest?
The previous PPF presentation was on...
What is Confidence in Credit (with SECU)?
This account is used for college savings and excess funds can be rolled over into an IRA.
What is a 529 Plan?
This account gives you an employer match (essentially free money!) .
What is a 401(k)?
The year CFMA was founded.
What is 2018?
The main difference between a traditional IRA and a Roth IRA is...
Tradition: tax-free now, pay taxes later
Roth: pay taxes now, tax-free later
Every dollar you put into your plan, your employer contributes too
What is an employer match?
The mission of the CFMA
What is increase the personal finance and leadership skills of college students?
This account is better to contribute to in lower tax brackets.
What is a ROTH IRA?
These are additional, voluntary contributions allowed for individuals age 50 and older to save extra money in retirement accounts (401(k), 403(b), IRA) beyond standard annual limits.
What are catch-up contributions?