Acronyms
IRA
What is an Individual Retirement Account?
This type of type account is typically offered by an employer, and funds are deducted automatically from your paycheck.
What is a 401(k)?
How people typically file their taxes when married.
What is Jointly?
The withdrawal rate you should not exceed in retirement to ensure success.
What is 4%?
This type of insurance protects families from financial loss if an income earner dies too soon.
What is life insurance?
HSA
What is a Health Savings Account?
This type of savings account is offered to employees of a company in the public sector or a non-profit.
What is a 403(b)?
This type of filing typically allows the highest deductible rate.
What is Head of Household?
If you withdraw funds from most retirement accounts before age 59 1/2, this is the percent you will pay in tax penalties.
What is 10%
This type of insurance protects families from financial loss if an income earner is injured.
What is disability insurance?
RMD
What is a Required Minimum Distribution?
This type of individual account provides tax benefits upon contribution, but taxes are paid later when withdrawn.
What is an IRA?
This type of filing typically offers the lowest deductible rate.
What is Married Filing Separately?
This source of retirement income is adjusted annually by the rate of inflation.
What is Social Security?
This type of insurance protects families from running out of money if they live too long.
What is an annuity?
CDFA
What is a Certified Divorce Financial Analyst?
This type of individual account does not offer tax benefit upon contribution, but is never taxed on withdrawal?
What is a Roth IRA?
This type of employment usually means the individual is paying the FICA rate twice.
What is sole proprietor or self-employed?
This is the most important factor in investment success.
What is diversification?
This type of insurance protects assets if a family member needs assisted living.
What is Long Term Care Insurance?
ETF
What is an Exchange Traded Fund?
This type of account offers tax benefit upon contribution AND can be withdrawn tax-free?
What is a Health Savings Account?
This structure of employment allows a "sole proprietor" to avoid double taxation.
What is an S-Corp?
This process utilizes different withdrawal strategies to reduce cumulative taxes in retirement.
What is tax diversification?
This type of insurance rider can be added to an annuity to protect against financial loss if a family member needs assisted living.