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