Helllooo everyone,
Happy Wednesday. Sorry I’m a little late, I was working with clients, but it is time to reveal our answers and the winners!
Here we go!
What are the 2 types of Life Insurance
A: Term and Whole Life
What is the purpose of an RMD?
A: To start paying taxes on your qualified money e.g. Traditional IRA, 401 K plan
At what age do you have to take an RMD?
A: 70 1/2
True or False: The purpose of purchasing a bond is to help business owners raise money for their vacations?
A:False
Which type of life insurance earns cash value?
A: Whole Life
Which type of life insurance expires after a certain period of time?
A: Term
What does IRA stand for?
A:Individual Retirement Account
What is the maximum contribution per year for a 50-year-old into a Traditional IRA?
A: 6500
Which IRA is pre-tax dollars?
A:Traditional IRA
Which IRA can NOT be written off on your taxes?
A:Roth IRA
The winner is Ms Jax 🙂 Way to go! You win 15.00 for a meal on me! I will email you shortly. Enjoy!
Thank you to all that participated😄
Changing the lives in our community….one family at a time
