Dave Ramsey - From Tuition to Tuition - Chapter 10

Question 1

Once the emergency fund is in place, you should begin retirement and college funding, which falls within long-term investing for _____.

Answer 1

wealth

Question 2

[Baby Step 4] - Invest _____ of your household income into Roth IRAs and pre-tax retirement plans.

Answer 2

15%

Question 3

ALWAYS save long-term with tax _____ dollars.

Answer 3

favored

Question 4

Everyone with an _____ income is eligible for an IRA

Answer 4

earned

Question 5

Remember: IRA is not a type of _____ at a bank. It is the tax treatment on virtually any type of investment.

Answer 5

investment

Question 6

The Roth IRA is an _____-tax IRA that grows _____ free!

Answer 6

after, tax

Question 7

Why Roth IRA?

• More _____
• Higher _____ at retirement
• More _____
• More _____

Answer 7

Choices
Bracket
Invested
Flexibility

Question 8

A _____-employed person may deduct up to 15% of their net profit on the business by investing in a SEPP.

Answer 8

self

Question 9

Most companies have completely done away with traditional _____ plans in the last 10-20 years. Some new plans offer a variety of pre-tax choices.

Answer 9

Pension

Question 10

Some companies are now offering the ____ 401(k), which grows tax-free.

Answer 10

Roth

Question 11

Do not use Guaranteed investment _____ (GIC) or bond funds to fund your plan

Answer 11

contract

Question 12

You should be funding your plan whether your company _____ or not, but the plans that have a company matching provide even greater returns.

Answer 12

matches

Question 13

You should _____ roll all retirement plans to an IRA when you _____ the company

Answer 13

always, leave

Question 14

Do not bring the money home! Make it a _____ _____.

Answer 14

direct transfer

Question 15

Never _____ against your retirement plan.

Answer 15

borrow