Financial steps
setting financial goals is the start of
what is Independence?
owing somebody something which you can be penalized for in the future if not handled
What is Debt?
income that is made Via employment
income received from employment
What is Earned income?
When an employer or employee contributes to your retirement plan
What is a defined contribution plan?
Likelihood that something will be lost
Beliefs that a person considers important
what are values?
making this plan can help you through out your life time and help you keep track of money
what is a financial plan?
The amount paid for working additional hours
What is Overtime Wage?
Employee sponsored retirement plan
What is a 401K?
The amount of uncertain processes a person is willing to handle
What is Risk tolerance?
The Morals and principles that direct a person
what are ethics?
The cost of goods or services purchased
what are expenses?
The difference in between what is owned and what is owed
What is Net Worth?
plan available to people though non profit organizations
What is a 403B?
Multiple investments that a person has made
What is an Investment portfolio?
judging the importance of multiple different things in comparison to one another
What are priorities?
A set or certain amount that must be paid when due
What are fixed Expenses?
Tracking past decisions and saving them
What is recordkeeping?
A plan with no defined RMD rules
What is a 457 plan?
When profit deviates from the rate of return
What is level of risk?
Something you work to obtain and bring to a entire completion
What is a Goal?
An organization or a group of willing people to help those in need without charge
What is a charity?
Stages that a family passes though during their lifetime
What is a Family life cycle?
Personal account for setting money aside for retirement
What is an IRA?