money market & savings

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16 Terms

1
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Interest formula

I=PRT

2
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4 savings tools

Checking, savings, money market, CD

3
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Most liquid saving

Checking

4
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What % is taken from social security

6.2%

5
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Retirement plans

401k, 403b, 457, pension

6
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Difference between Roth and traditional

Roth doesn’t tax deductions

7
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Average index fund

8-12

8
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Diverse investment option

Mutual

9
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Share ownership of company

Stock

10
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Which saving has a Withdrawal penalty before maturity

Money market

11
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3 main options to develop wealth

Stock, real estate, business

12
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Primary purpose of social security

Supplement money for retired/can’t work

13
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Most risky

Speculative

14
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What age do you apply for social security

62

15
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FDIC insurance max coverage

250k

16
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3 main stock index

Dow jones, s & p, nasdaq