Personal finance
A percentage paid to a lender for the use of borrowed money is called
interest
What has historically had the highest rate of return over long periods of time?
Stocks
What does personal finance refer to?
Management of an individual’s financial resources
What is the purpose of retirement planning in personal finance?
To ensure a financially secure retirement and future
something, typically money, that is owed or due
Debt
What is a bear market?
A time when stock prices are falling
What is a key component of debt management in personal finance?
Paying off debts on time and minimizing interest charges
What is the purpose of saving money in personal finance?
To build an emergency fund and achieve financial goals
a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority:
cryptocurrency
Designed for holding money you don't plan to spend immediately
savings account
What does estate planning involve in personal finance?
Arranging for the distribution of assets after death
Ideal for everyday transactions
Checking Account
How much should you save/invest per paycheck?
10%-20%
What is considered Retirment age in America?
67
What does Btc mean in the stock market?
Bitcoin
What does FDIC Insured mean?
The federal government will repay your deposits of up to $250,000 if the bank fails.
Most traded crypto
Tether
According to Charles Schwabs, how much is considered wealthy?
2.2 million
curated collection of separate assets that have monetary value
Financial Portfolio
Resources with economic value
Assest
type of account that tends to offer a higher interest rate than traditional savings accounts.
money market account
a type of savings account where you earn a fixed rate of interest over a fixed period, also known as a CD term
Certificate of deposit
What year was cryptocurrency created?
1983 American cryptographer David Chaum proposed a form of electronic cash. He conceptualized a token currency that could be transferred between individuals safely and privately;
Richest Person in America?
Elon Musk
Richest Person in the world?
Elon musk