Dave Ramsey - From Tuition to Tuition - Chapter 10 Flashcards Preview

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Flashcards in Dave Ramsey - From Tuition to Tuition - Chapter 10 Deck (15):
1

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

wealth

2

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

15%

3

ALWAYS save long-term with tax _____ dollars.

favored

4

Everyone with an _____ income is eligible for an IRA

earned

5

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

investment

6

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

after, tax

7

Why Roth IRA?
-More _____
-Higher _____ at retirement
-More _____
-More _____

Choices
Bracket
Invested
Flexibility

8

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

self

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.

Pension

10

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

Roth

11

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

contract

12

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

matches

13

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

always, leave

14

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

direct transfer

15

Never _____ against your retirement plan.

borrow