Financial Literacy
This investment is essentially a loan you give to a company or government that pays interest.
What is a bond?
The flow of information between different hierarchical levels within an organization.
Vertical Communication
Clue:
A person has no savings and their car suddenly needs a $1,200 repair. They must rely on credit cards or loans to cover the cost.
Financial experts recommend building this type of savings to avoid situations like this.
What is an emergency fund?
When buying a car with a loan, this upfront payment reduces the amount you need to borrow.
What is a down payment?
This extra cost added to a loan represents the price of borrowing money.
What is interest?
This retirement account allows contributions with after-tax money, and withdrawals in retirement are tax-free.
What is a Roth IRA?
Trust in team members' choices
Empowerment & Autonomy
Businesses that offer different products or services but compete for the same target market or customer base as another company.
Indirect Competitors
This government program provides retirement income to many Americans.
What is Social Security?
Failing to make payments on loans can damage this important financial number.
What is a credit score?
This happens when you fail to pay money you borrowed according to the agreement.
What is defaulting on a loan?
This Standard is based on regulations and legal requirements.
Mandatory Standard
Analysis of inside a business.
Strengths & Weaknesses
This retirement account allows contributions that may be tax-deductible now but are taxed when withdrawn later.
What is a traditional IRA?
A ________ account is a taxable financial account used to buy and sell securities like stocks, bonds, mutual funds, and ETFs.
Brokerage
This retirement account allows money to grow tax-deferred and is often offered by employers.
What is a 401(k)
This Standard is based on goals we try to reach or strive to uphold.
Aspirational Standard
The owner sells ownership into a retirement fund for the employees.
ESOP Employee stock ownership plan
This form is given by employers each year summarizing wages and taxes withheld.
What is a W-2 form?
Two people invest the same total amount of money.
Person A invests $2,000 per year from ages 20–30, then stops investing but leaves the money invested.
Person B invests $2,000 per year from ages 30–65.
Even though Person B invests far more total money, this person often ends up with less money at retirement.
This powerful financial concept explains why.
What is compound interest?
Spreading your money across many investments to reduce risk is called this.
What is diversification?
1) Identify the overall scope.
2) Identify Key Personnel
3) Define deliverables
Work Breakdown Structure (WBS)
(Selling Price - Production Cost)/ Production Cost X 100
ROI Formula
Interview Prep
Tell me something negative about yourself?
(There are two good answer choices)
I'm too nice.
I am too much of a perfectionist.
When renting an apartment, this payment often equal to one month’s rent is collected in case the tenant damages the property.
What is a security deposit?