6-6 Retirement Planning Review Business U

Fill in the blank: An employer-sponsored qualified retirement plan that allows employees to contribute money on a tax-deferred basis is called _________.

• 401(k)

• Roth IRA

• Health Savings Account (HSA)

• 529 Plan

A qualified retirement account that allows individuals to contribute money for retirement on a tax-deferred basis is called _________.

• Individual Retirement Account (IRA)

• Health Savings Account (HSA)

• Certificate of Deposit (CD)

• Flexible Spending Account (FSA)

The increase in the general level of prices in an economy is called _________.

• Inflation

• Deflation

• Stagnation

• Depreciation

The process of creating a plan for retirement to meet desired future income goals, and allocating and investing the financial resources necessary to achieve the plan is called _________

• Retirement Planning

• Estate Planning

• Tax Planning

• Budgeting

Fill in the blank: A qualified retirement account that allows individuals to withdraw money from their retirement account on a tax-free basis is called _________.

• Roth IRA

• Traditional IRA

• 401(k)

• SEP IRA

Fill in the blank: A government-funded program offering financial support to retirees, disabled individuals, and survivors of deceased workers is called _________.

• Social Security

• Medicare

• Unemployment Insurance

• Food Stamps

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

The granting of money or ownership based on achieving certain milestones is called _________.

• Vesting

• Amortization

• Depreciation

• Escrow

Fill in the blank: The strategy of spreading investments across various assets, sectors, or geographic regions, to reduce risk is called _________.

• Diversification

• Speculation

• Concentration

• Leverage

Fill in the blank: An investment security that holds a diversified portfolio of assets, such as stocks, bonds, or commodities, and trades like a stock throughout the day is called _________

• Exchange Traded Fund (ETF)

• Certificate of Deposit (CD)

• Savings Bond

• Money Market Account

A professionally managed investment vehicle that pools together money from many investors to purchase a diversified portfolio of securities is called _________.

• Mutual Fund

• Savings Account

• Certificate of Deposit

• Credit Union