Budgeting 101
This can be short, medium, or long term and can really help you be successful.
What are (financial) goals?
These are the 2 most common accounts most Americans have in their lifetime.
What is a checking account and savings account?
In this market, individual investors can buy equity in publicly traded companies.
What is the stock market?
This is the money left on your paycheck after deductions.
What is net income?
This type of account should only be used in critical situations, i.e. losing your job. Sadly, about 42% of Americans do no have this if they needed it.
What is emergency savings?
This debt management strategy aims to pay off the liability with the smallest outstanding balance first.
What is the Snowball Method?
This account is the most traditional, taxable, investment account that allows people to buy stocks and bonds.
What is a brokerage account?
How many months have we had a bear market since June of 1949?
What is 12 months?
This is the amount of money you earn before any deductions, like taxes, are taken out.
What is gross income?
This is a tool that can protect your family in the event of an unexpected tragedy or help leave a legacy behind for your loved ones.
What is life insurance?
This debt management strategy aims to pay off the liability with the highest interest rate first.
What is the Avalanche Method?
Selling a stock that has made money and has been held for more than 12 months will result in an investor paying this type of tax.
What are Capital Gains?
How many months have we had a bull market since June of 1949?
What is 267 months?
This is the most commonly used retirement savings account in America!
What is a 401(K)?
What is 30%?
This rule serves as a general guideline for creating your own budget.
What is the 50/30/20 rule?
This type of mutual fund is often used by savvy investors as an alternative to savings accounts because it is considered low risk and, often times, has a higher yield.
What is a money market fund?
The average 12-month return immediately following a 15% or greater decline is (blank).
What is 52%?
Created in 1997, this account allows investors to contribute after-tax dollars so that distributions after the age of 59 1/2 are tax free.
What is a Roth IRA?
This type of account is offered through an employer and has a triple tax advantage - tax deductible contributions, tax-free growth, and tax free withdrawals for qualified medical expenses.
What is a Health Savings Account?
This type of plan is one of the most critical components to financial success. In this approach, money is transferred from one account to another at the same date each month.
What is an automatic savings plan?
Created in 1996, this section of the internal revenue code allows parents to save for their children's college expenses by utilizing a tax-advantaged investment account.
What is a Section 529?
In any given 10 year period, what is the likelihood that an investment in the S&P 500 will yield a positive return? (Answer must be expressed as a percentage)
What is 90%?
(Blank) is the age where the U.S. Government considers an individual to be fully retired and eligible to receive 100% of their social security benefits in 2025.
What is 67?
If someone put away $200 a month into an investment account with an average annual return of 8%, this is what their account value would be after 40 years.
What is $648,561?