Taxes and Insurance
A government fee that people pay on the wages they receive
What is Income Tax?
55% of your paycheck goes into this jar that will pay for your rent, utilities, car, etc.
What is Living Jar?
Property Owned by a Person or a Company
What is an Asset?
# of Years to Double $$ (the original Principal)
What is Magical Rule of 72?
When you invest use your _____
(Hint: It is a body part)
What is head?
DOUBLE JEOPARDY!!
Insurance that ONLY pays out when a person that is insured passes away
What is Life Insurance?
10% of your check goes into this jar & it pays for things like books, pencils, paper, tuition?
What is an Education Jar?
Things you must have in order to survive such as clothes, shelter, or food
What are Needs/Assets?
There is Interest growing on Interest
What is Compound Interest?
To invest in a variety of different assets for a safer risk and return
What is Diversification?
Tax that pays for healthcare for the elderly
What is Medicare?
10% of your paycheck goes into this jar and is considered a "just in case" fund
What is Savings Jar?
Real Estate, Businesses, and Stockmarket
What are Asset Examples?
Compound Interest Formula: Interest _____ Interest Rate %
What is Multiply?
DOUBLE JEOPARDY!!
What is the official Age of retirement?
What is 66 years old and 2 months?
Tax that pays for wars, the military, interstate roads?
What is Federal Tax?
10% of your paycheck goes into this jar and you must spend all of the jar every month because life is always about BALANCE.
What is a Play Jar?
Paying Interest, Paying Expenses, and Debt
What are Liability Examples?
Formula of Rule of 72: 72 _____ Interest Rate
What is Divide?
We diversify...
What is to Reduce Risk?
The amount you have to pay when making an insurance claim
What is Deductible?
10% of your paycheck goes into this and with so TLC, this jar can help you not work all your life unless you want to!
What is Freedom Jar?
ONE of the three assets that you can buy in the Money Game
What are Real Estate, Businesses, or Stocks?
You saved $100 in a bank earning 4% interest for 8 months? Which number do you use in Rule of 72?
What is 4%?
To the Farmer, The Golden Goose was a/an...
What is an Asset/Investment?