Money Market
What is a money market account primarily used for?
What does the 401(k) retirement plan stand for?
What is a tax-advantaged retirement savings plan offered by employers.
What is an annuity primarily used for?
What is Providing a steady income stream in retirement.
What is the term for property purchased as an investment rather than for personal use?
What is Investment property.
What is a Ponzi scheme?
What is A fraudulent investment scam that pays returns to earlier investors using new investors' money.
True or False: Money market accounts typically earn higher interest than regular savings accounts.
True or False: You can withdraw money from a 401(k) anytime without penalties.
What is False.
Name one type of annuity.
What is Fixed, variable, or indexed annuity.
What is the benefit of investing in real estate compared to stocks?
What is Tangible asset, rental income, tax advantages.
True or False: A guaranteed 50% return per year is a safe investment.
What is False, high returns usually mean high risk or scams.
What is the minimum balance requirement usually associated with money market accounts?
What is the key difference between a Roth IRA and a Traditional IRA?
What is a Roth IRA uses after-tax dollars, Traditional IRA uses pre-tax dollars.
True or False: Annuities are backed by the FDIC.
What is False, they are backed by insurance companies, not the government.
What does "flipping houses" mean?
What is Buying, renovating, and selling homes for profit.
Name a type of investment scam.
What is Ponzi scheme, pyramid scheme, pump-and-dump.
Name two advantages of money market accounts.
Higher interest rates than savings accounts, check-writing privileges, low risk.
What happens if you don’t start withdrawing from a Traditional IRA by age 73?
What is You face required minimum distributions (RMDs) with penalties.
What is the major downside of annuities?
What is High fees and potential surrender charges.
What is a mortgage?
What is A loan used to buy property.
What is a "pump-and-dump" scheme?
What is Inflating stock prices with false hype and then selling for profit.
https://youtu.be/CakdQBB5QnQ?si=5KLHMOlU7UAD8a9J
What type of investment is similar to a money market account but offers higher returns with more risk?
What is the maximum employee contribution limit for a 401(k) in 2024?
What is $23,000, plus $7,500 catch-up for those 50+.
What does it mean when an annuity is "deferred"?
What is Payments start at a future date instead of immediately.
What is the name of the government-sponsored loan program that helps first time homebuyers?
What is a FHA Loan
What is one way to spot a fraudulent investment?
Unrealistic returns, no clear business model, high-pressure sales tactics.