Types of Accounts Check In

Front

What type of account has the most liquidity? (Easy access to your cash!)

Back

Checking

Front

What is true about a savings account?

Back

You have limits on your withdrawals every month.

Front

What is one difference between a money market and savings account? Options: Savings needs more money to start, Money Market needs more money to start, Savings accounts typically earn higher interest rates

Back

Money Market needs more money to start

Front

Which type of account requires you to keep the money invested for certain amounts of time?

Back

CD's

Front

Which retirement account does your employer offer and you contribute pre-tax dollars?

Back

401K

Front

If my employer offers a 401(K) match, what are they doing?

Back

They will contribute to my 401K too (up to a certain amount)

Front

What is true about time and deposit when it comes to a CD? Longer time & bigger deposit= lower interest rate %; Longer time & bigger deposit= higher interest rate %; Shorter time & bigger deposit= higher interest rate %

Back

Longer time & bigger deposit= higher interest rate %

Front

What is the biggest difference between a Roth IRA and a 401(K)?

Back

How it is taxed

Front

Which term means calculating interest on your interest?

Back

Compound interest