Basics Flashcards
1
Q
If you’re investing over a 40-year span, which years are the most lucrative?
A
The last 10 years
2
Q
Inflation causes prices to rise at __ - __% each year
A
2-3%
3
Q
Retirement money used to be given out through these 3 ways:
Which of them doesn’t exist anymore for corporations?
A
- Social Security
- Pension plans, including Medicare (doesn’t exist anymore for corporations)
- Personal Savings
4
Q
___ is the single biggest expense in your lifetime
A
Retirement
5
Q
Use your checking account for _________ money
A
day-to-day
6
Q
Use your savings account for ______ _____ and _______ money
A
Emergency fund and short/mid-term (4-5 years), not invested
7
Q
What is “chasing yield”?
A
When you hop from bank to bank to get a better interest rate
8
Q
Commercial banks have monthly ________ fees
A
maintenance
