Lesson 1: Your Income
Money received on a regular basis for work or through investments.
Income
A grouping of jobs and industries related by skills or products.
Career cluster
Required payments to a government.
Taxes
A social insurance program that extends health coverage to almost all Americans age 65 and over
Medicare
The things you do well.
Abilities
The biggest requirement for later success in life.
High school diploma
A portion of one's personal income paid to a government.
Income tax
Total pay or earnings made over a one-year period before any deductions have been taken
Gross annual income (GAI)
The things you like and enjoy doing.
Interests
This type of degree has the lowest rate of unemployment.
Doctoral degree
A tax paid when purchasing goods or services.
Sales tax
Total amount of earnings made over a month before any deductions (1/12 of GAI)
Gross monthly income (GMI)
The ideas that are important to you and your career choice.
Values
A degree obtained after four years at a college or university.
Bachelor's degree
A tax paid on the ownership of a home or similar.
Property tax
Income amount remaining after a year’s worth of deductions have been taken
A type of income that is fixed and does not change.
Salary
The fastest growing profession.
Wind turbine service technician
A social insurance system that provides benefits to most Americans who are retired, sick, or too disabled to work, and to families of workers who have died
Social security
Amount of monthly income remaining after all deductions have been taken (sometimes referred to as take-home pay)
Net monthly income (NMI)