Retirement Planning
This type of retirement account allows you to contribute pre-tax dollars, and withdrawals are taxed as income.
What is a Traditional IRA?
This type of life insurance provides coverage for a specific period and does not accumulate cash value.
What is Term Life Insurance?
This term refers to spreading investments across various asset classes to reduce risk
What is Asset Allocation?
This business structure offers liability protection for owners while allowing profits and losses to pass through to personal tax returns.
What is an LLC (Limited Liability Company)?
This is the tax benefit that allows individuals to deduct their contributions to a retirement account, like a 401(k).
What is Tax-Deferred Growth?
This term refers to the point in retirement when an individual begins drawing down funds from their retirement accounts to replace income.
What is "Retirement Income Phase"?
This type of insurance helps protect your income if you are unable to work due to illness or injury.
What is Disability Insurance?
This strategy focuses on selecting individual stocks or assets based on their long-term growth potential.
What is Growth Investing?
This is a business strategy that protects the business from the loss of key individuals by purchasing life insurance on them.
What is Key Person Insurance?
The tax form you must file each year to report your income and calculate your tax liability.
What is a Tax Return (Form 1040)?
The maximum annual contribution to a 401(k) in 2025 (excluding catch-up contributions for those 50+).
What is $23,000?
This term refers to the portion of a policyholder’s insurance premium that is paid out-of-pocket before insurance kicks in.
What is a Deductible?
This investment option involves pooling funds from many investors to invest in a diversified portfolio of stocks and bonds.
What is a Mutual Fund?
This type of plan allows business owners to provide employees with a retirement savings option while offering tax advantages.
What is a SEP IRA (Simplified Employee Pension)?
This tax is assessed on the income of a business entity and is often lower than personal income tax rates.
What is Corporate Income Tax?
This type of retirement plan is typically offered by employers and often includes matching contributions.
What is a 401(k)?
This is the amount of life insurance coverage recommended to replace your income and cover debts, according to financial experts.
What is 10–12 times your annual income?
This is a type of risk where the value of an investment could decline due to changes in interest rates.
What is Interest Rate Risk?
This is the process of determining the fair market value of a business, especially in the case of a sale or merger.
What is Business Valuation?
This is a strategy used to reduce your tax liability by spreading the sale of an asset over several years.
What is Tax-Loss Harvesting?
This is the age at which you can begin taking penalty-free withdrawals from a 401(k) or IRA, though you still must pay taxes.
What is 59½?
This rider on a life insurance policy allows the policyholder to access death benefits in case of a terminal illness diagnosis.
What is a Living Benefit Rider?
This is the name of the financial concept that refers to the idea of making a steady return on your investments over time rather than seeking large, rapid profits.
What is Compounding?
This valuation method involves estimating the value of a company by calculating its future expected cash flows.
What is Discounted Cash Flow (DCF)?
This type of tax planning involves shifting income to family members in lower tax brackets to reduce the overall tax burden.
What is Income Splitting?