Retirement and Savings
Emergency fund, Short term goals, Long term goals
What are savings?
Income taxes are due
What is April 15th
806 billion dollars
What is the total credit card debt for Americans?
1 in 8
Who in America have student loan debts?
https://www.nerdwallet.com/article/loans/student-loans/student-loan-debt
Spend, Save, Invest, Give
What are things you can do with your money?
Consider making a budget to help you make a plan.
IRA, Roth IRA, 401k, 403b, etc.
What are retirement vehicles?
These taxes support your local county, city, school district, etc.
What are property taxes?
16.13%
What is the average credit card interest rate?
As of June, 2021
Car, Mortgage, Personal
What are types of loans?
Gross Pay
What is the amount of money an employee receives before deductions?
7%
What is the historical average annual return for the S&P (Standards and Poor 500 Index) adjusted for inflation?
https://www.investopedia.com/ask/answers/042415/what-average-annual-return-sp-500.asp
5.35%, 6.80%, 7.85%, and 9.85%
What are Minnesota state tax rates for 2021?
Minimum payment on credit card
What is the amount you have to pay on your credit card balance by the due date to avoid a late payment?
$28,950
What was the average debt for a 2019 graduate graduating with a bachelor's degree?
62% of 2019 college graduates graduated with student debt.
https://www.nerdwallet.com/article/loans/student-loans/student-loan-debt
Health Insurance, FICA social security, FICA medicare federal tax, state tax, 401K contributions, etc.
What are some examples of deductions?
Investing $6000 annually at 7% interest rate for 40 years
What is 1.28million dollars?
$12,550
What is the standard deduction in 2021 for a single person?
$0
What is the amount of interest you pay on a credit card if you always pay on time and in full?
$7.4 billion dollars
What is the total amount awarded among 1.7 million private scholarships?
As of 2019
https://www.savingforcollege.com/article/college-scholarships-statistics
Indirect compensation (cash or non-cash) paid to an employee above regular wage or salary
What are benefits?
Examples: health insurance, life insurance, 401K/403b, vacation time, etc.
What is compound interest?
decreasing the total you pay in income taxes
What are tax credits and tax deductions?
Grace Period
What is the time between the credit card bill closing and the due date for credit card accounts that always pay in full?
Between 300 and 850
What is a credit score?
Free money
What is a retirement match?