Investing
David Bach's favorite phrase....
Pay yourself first
Albert Einstein called this the eighth wonder of the World because of the effect it has on savings.
Compound Interest
Monthly payment for insurance plan is called this
Premium
The form that is most common that taxpayers fill out for tax return
1040
What is the biggest resource when it comes to investing?
Time!
Lower or higher interest rate: Which is better when it comes to a savings account?
Invest this amount each month for 40 years to retire with 1,000,000.00 (assuming 8% return)
322.00/monthly
The purpose of insurance is to:
Transfer risk
This is the form that people who are not employees fill out -people who own their own businesses
1099
Company A is raising $1 million at its initial public offering (IPO) by issuing 2,000 shares of stock.What is the value of each share?
$500.00
What does a savings account do that a checking account does not?
Earn interest
This is a government program that pools contributions from current workers to then provide retirement support benefits to those who are eligible
Social Security
The term for the occupation that calculates risk for insurance companies
Actuary
This is the date that the W2 should be sent to you by your employer each year
January 31
An index fund is a type of _____ ____ which is an investment vehicle that pools money to buy stocks, etc.
Mutual Fund
What is one major reason online savings accounts have higher interest rates?
There is no building, no bankers to fund!
This is a decentralized, digital ledger that securely records transactions across a network of computers
Blockchain
Average one-night hospital stay: Closer to 10,000 or 20,000?
11,470 (10,000)
The term for a qualifying child or relative who relies on you for financial support
Dependent
If you put money in a savings your money loses this due to inflation
Purchasing power
This financial institutions are owned and controlled by their members.
Credit Unions
Ethereum
Accident damage cost $8000.00. Deductible is $1500.00. How much does driver pay?
$1500.00
Name a state with no income tax
Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming