Matthew's Financial Planning Insights

Matthew, a 22-year-old systems engineer, discusses his financial situation with Dave. He earns $80,000 annually and plans to buy a house. Dave advises him to use his investments for a down payment and focus on paying off the mortgage quickly. They discuss the importance of a paid-off house and maximizing 401k contributions for wealth building. Dave predicts Matthew could become a millionaire by 30. They also consider future life changes, like marriage, and how they might impact financial plans.

What is Matthew's annual income before bonuses?

• $80,000

• $120,000

• $50,000

• $100,000

How much does Matthew plan to use from his investments for the house down payment?

• $25,000

• $20,000

• $10,000

• $30,000

What type of mortgage does Matthew plan to take for his house?

• 10-year

• 15-year

• 30-year

• 20-year

What is the projected increase in home values according to Matthew?

• 15%

• 10%

• 20%

• 5%

According to Dave, what are the two primary components to achieving millionaire status?

• Business ownership and investments

• Real estate and stocks

• Paid-off house and 401k

• High salary and savings

What is the company match percentage for Matthew's 401k?

• 3%

• 4%

• 5%

• 6%

What does Dave suggest Matthew do with his ETF investments?

• Keep them as is

• Use them for a vacation

• Invest in a new business

• Use them for the house down payment

By what age does Dave predict Matthew could have his house paid off?

• 25-26 years old

• 30-31 years old

• 35-36 years old

• 40-41 years old

What potential life event does Dave mention that could affect Matthew's financial plans?

• Job change

• Marriage

• Health issues

• Relocation

What does Dave refer to people who follow his financial advice as?

• Wealth builders

• Financial gurus

• Everyday millionaires

• Investment experts