Financial Foundation
the rise in prices of goods and services over time (silent killer)
what is Inflation
401k, 403b, 457
what is a Retirement Plan?
Debt, Income, Mortgage, & Education
what is the DIME Method?
company pensions, social security, & personal savings
what is the Three Legged Stool?
at least 3-6 months income
what is an Emergency Fund?
there are two things definite in this life
what is death and taxes?
an important feature to move your money to a better investment account of your choice
what is a Rollover?
low risk, high interest, with the support of multiple companies
what is IUL?
can be revocable or irrevocable
what is Trust?
guard against loss of income
what is Proper Protection?
the difference between the amount you sold and the amount you paid for it
what is capital gains?
the most common form of a retirement plan
what is an IRA?
this has an accumulation and a payout phase
what is an Annuity?
legal document that allows you to distribute your property (DOUBLE JEOPARDY)
what is a Will?
strive to outpace inflation & reduce taxes
what is Build Wealth?
what is tax now, tax later, and tax advantage
this helps supplement the income of retirees
what is Social Security?
fixed, indexed, & variable but not an insurance policy
what is an annuity?
investment, emergency fund, debt, savings, and protection
what is the Financial Cake?
reduce taxation & build a family legacy
what is Preserve Wealth?
mortgage, car payment, & student loans
what is debt?
to receive full social security benefits, you have to be what age? (DOUBLE JEOPARDY)
what is the age 67?
the insurance company pays or advances a portion of the policy's death benefit to the insured
what is Living Benefit?
you're never as young as you are today
what is the Power of Time?
earn additional income and manage expenses
what is Cash Flow?