1.Might it actually affect your spending habits now to think about how $1 at age 25, if invested, could easily be $32 at age 70? Explain whether it might.
2. Explain the logic of your retirement age goal (and include the age). (Assume you will retire someday.)
3.Picturing yourself during (the assumed) retirement, do you predict having grandchildren?
4. If taking a leisurely walk every day, starting now, would add 5 healthy years to your senior years, would you be able to start that walking habit?
5. Of Jaspreet’s four investment styles he reviews, which would be Dr. Stewart’s favorite, and which is Jaspreet’s favorite?
6. If you want to spend $50,000 per year for each of your retired 25 years, and your account will average 7.125% annual returns, then how large a nest egg do you need to achieve that goal?
7. Social Security income changes by approx. 8% per year, lower if you’re not FRA, higher if you are, from 62 to 70. If your annual Social Security income would be $18,000 at age 67, what would it be at age 62? 70?
8. Suppose you make $50,000 and are taxed 25% on it before you invest the total after-tax amount. In year 1 that amount grows by 8%, and then that growth amount is taxed 25%. Same for years 2, 3 and 4. How much did you invest at the beginning, and what are the after-tax account balances at the end of 1, 2, 3 and 4?
9. Two people have identical investing patterns, only one invests through an IRA and the other doesn’t. If the income tax rate for each person is 25%, which account ends up larger? Do we know by how much?
10. Two people have identical investing patterns, only one invests through a Roth IRA and the other doesn’t. If the income tax rate for each person is 25%, which account ends up larger? Do we know by how much?
11. Do you predict you’ll face higher income tax rates when you are mid-career or when you first retire? Explain.
12. A friend of yours says they know they should open a Roth IRA, but they really want to invest in stocks. What advice can you offer them?
13. Can you invest in any fund you want with IRA money? With 401k money?
14. Optional items aren’t graded. It’d be contradictory if they were. Here’s hoping it’s not yet 11pm on the day the quiz is due!
15. There are items A through E. Explain which one most deserves to be removed.
16. Explain how lifestyle inflation could be a sign that the person is unhappy.
17. ‘What are the three whammies of the “triple whammy?” With which of the three does Dr. Stewart disagree?
18. How much sea-level-rise could the collapse of the Thwaites Galcier cause? (Please don’t go for the low housing prices of living in a flood plain.)
19. Are the tax benefits of a HSA more like the tax benefits of an IRA or like a Roth IRA, or what?
20. Explain what “matching” means, in this context, as though you’re explaining it to a great-grandmother.
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