Middle Class Habits Quiz

What is a common reason people remain in the middle class according to the first habit discussed?

• Lack of education

• Fear of asking for a raise

• High living expenses

• Poor investment choices

What psychological experiment is used to explain the concept of delayed gratification?

• The marshmallow test

• The Stanford prison experiment

• The Asch conformity test

• The Milgram experiment

What is a potential risk of relying on a single income source?

• Increased tax liability

• Difficulty in career advancement

• Lack of job satisfaction

• Financial instability if the job is lost

What is a suggested method for becoming more aware of your finances?

• Hiring a financial advisor

• Opening multiple bank accounts

• Tracking expenses regularly

• Investing in stocks

What is the current record level of credit card debt mentioned in the video?

• $2.5 trillion

• $900 billion

• $1.42 trillion

• $3.1 trillion

What is a negative consequence of using debt to maintain a lifestyle?

• Improved credit score

• Increased net worth

• Financial stagnation

• Higher savings rate

How can excessive alcohol consumption impact your professional life?

• It reduces productivity

• It increases job satisfaction

• It enhances networking opportunities

• It improves creativity

What is the average 401K balance for Americans aged 65 and over?

• $1 million

• $750,000

• $500,000

• $272,000

What percentage of income is now considered a record share for retirement savings?

• 6%

• 10%

• 20%

• 15%

What is the recommended savings rate for those aged 20 to 35?

• 20% to 25%

• 15% to 20%

• 10% to 15%

• 5% to 10%