shit for eco
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| Investing is for... | long-term goals, less liquid, higher risk, possibly higher returns, building net worth/wealth.
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| Saving is... | emergencies, limited risk, more liquid, low returns (0-4%), financial security, big purchases.
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| Investing | The process of setting money aside to increase wealth over time for long-term financial goals such as retirement
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| Investment | Assets purchased with the goal of providing additional income from the asset itself but has a risk of loss.
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| Financial Literacy | The ability to understand and effectively use various financial skills such as personal finance management, budgeting, and investing.
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| Personal Finance | All the financial decisions an individual family must make in order to earn, budget, save, invest, spend, and give money over time.
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| Rule of 25 | Multiply your annual expenses by 25. This is what you'll need to retire.
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| 4% Rule | If you were to withdraw 4% of your retirement fund, that's a year's worth of expenses.
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| Principal | The money that you originally invested.
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| Simple Interest | Interest earned calculated using principal only.
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| Accrued Interest | The interest that has been accumulated since the original investment but has not been paid out yet.
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| Compound Interest | The interest on savings calculated on both the initial principal and the accumulated interest.
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| Rule of 72 | 72 divided by the annual interest rate equals the years it will take to double
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| Liquid Asset | An asset that can be easily bought or sold.
Ex. cash, stocks, bonds, mutual/index funds.
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| Debt Security | Financial assets that define the terms of a loan between an issuer (borrower) and an investor (lender).
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| Equity Security | Financial assets that represent shares of a corporation.
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| Stock | A security that represents part ownership or equity in a company (or companies).
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| 401k benefit one | Pre-tax account
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| 401k benefit two | investments grow tax defferred
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| Traditional IRA one | money grows tax deferred contribution
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| Traditional IRA two | taxed when withdrawn
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| Roth IRA one | Money grows tax free
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| Roth IRA two | not taxed if withdrawn
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| Anything else? | Real estate- ownership of residential property
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