UVA Financial Literacy Presentation

Describe your confidence as it relates to your personal financial literacy

• VERY CONFIDENT

• CONFIDENT

• SLIGHTLY CONFIDENT

• NONE

What percentage of American households run out of money during retirement?

• 40%

• 28%

• 65%

• 78%

What percentage of people have no emergency savings?

• 5%

• 10%

• 20%

• 40%

What percentage of parents are uncomfortable discussing money with their children?

• 17%

• 59%

• 47%

• 29%

What is the average amount of student debt per borrower?

• $100,000

• $48,000

• $30,000

• $10,000

Which of the following are NOT considered a primary area of financial planning?

• Investments

• Risk Management

• Credit Score Cultivation

• Tax Planning

What percentage of your gross income should you save for retirement and future goals?

• 20%

• 10%

• 5%

• 40%

Sound financial planning correlates....

• Only with defensive strategies like life insurance and income protection

• With both offensive and defensive strategies

• Only with offensive strategies like saving/investing

• With finding tax efficiencies and IRS loopholes for the wealthy

At what age can you start to pull money from a Traditional 401(k) without incurring a 10% penalty?

• 65

• 59 1/2

• 72

• 50 1/2

What is the benefit of a Roth IRA?

• You can pull the basis out at any point without penalty

• You will not have to pay taxes when taking distributions

• It reduces your Adjusted Gross Income (AGI)

• They grow tax-deferred