Capital Gains
What is a short term gain/loss
Gain or loss realized from the sale of an investment held for less than 1 year.
What does it mean if an account is said to be "Qualified"
It means that the account grows tax deferred.
At what age do you become eligible for "Catch-Up Contributions"
Age 50
How often during a day do Mutual Funds update prices for buying/selling
1 time per day at the stock market close (4pm)
What age do Required Minimum Distributions (RMD's) begin
Age 72
What is a long term gain/loss
A gain or loss realized from the sale of an investment held for more than 1 year.
What type of account is tax qualified
IRA, ROTH IRA, 401K, 457 Plan, 403B, ROTH 401K, or any other "Retirement" account.
What is the maximum annual contribution limit for IRA's and what is the "Catch-Up Contribution" limit for IRA's
$6,000 + $1,000
How often in a day do Exchange Traded Fund prices update for buying/selling
Every second of every day
What was the 1st annuity ever created (We will all have 1 of these if we pay taxes)
Social Security (1935)
What is the capital gains tax rate
What type of account only pays taxes on withdrawals
IRA, 401K, 457 Plan, 403B
What is the annual contribution limit for a 401K, 457 Plan, 403B, or ROTH 401K and what is the "Catch-Up Contribution" limit
$19,500 + $6,500
How often in a day do individual equities update prices for buying/selling
Every second of every day
What is the term used to calculate volatility of an investment
BETA
Who pays capital gains taxes on a joint account
The owner that is listed 1st on the account.
What type of account is funded with money that has already been taxed, but is tax free upon withdrawal
ROTH IRA
What is the annual Modified Adjusted Gross Income limit to qualify to contribute to a ROTH IRA
If single, $139K/$140K
If married filing joint, $206K/$208K
Mutual Funds
What is the term given to the distribution of profits from a company to it's shareholders
Dividend
What type of account is associated with capital gains taxes (Qualified or Non Qualified)
Non Qualified
What type of account is funded with money that has already been taxed, and still pays taxes on realized gains
Non Qualified, taxable, individual, joint, brokerage
What is the annual contribution limit for a Non Qualified account
There is no limit
Without using exceptions, at what age do IRA distributions become penalty free and what is the penalty for early withdrawals
Age 59 1/2
10% penalty plus the taxes due
What is the term for the payment received for owning a bond
Interest or Coupon