Bussell Traven

Mr Kammerman, instructor
Finance 1010
December 19, 2017

1.You calculate how much you pay in brackets. Then subtract your deductions. Add in any other
articles that may affect your taxes. There you go.
2. One such form you will need to fill out is your 1040. The progressive tax structure is is a
system where you are taxed based on how much you earn.
3. The amount of money you are taxed based on how much you earn.
4. Depends on how much you can itemize. With the new Trump tax plan it will be better to use
the standard deduction.
5. Tax deductions are not the same as exemptions. Yet at the same time they are similar. They
are things you can write off of your taxes. Examples include: sales taxes, charity, business
expenses, etc.
6. Short: Invest 500$, make a return in order to double your investment.
Intermediate: Invest often, attend an investment class or session.
Long: Obtain an adviser, retire with your investments.
7. Pay yourself first, you pay/invest before all else.
8. You can do single stocks, bonds, mutual funds, IRA, ROTHs, 401ks, etc. IRAs, Roths, and
Mutual funds are the most common among the average American who invests.
9. Buy the stocks, the cars would decrease in value drastically. The stocks have a chance to
increase.
10. Strategic asset allocation.
11. A mutual fund is an investment program that allows multiple investors to pool their money in
order to invest in something that someone along can not or does not wish to invest in. It has the
advantages of lower risk, yet at the same time you do not get to choose what you wish to invest
in.
12. No, they have fees that range based on the fund. Examples of such fees include: Redemption
fees, sales fees, Expense ratio, 12(b)1 fee, etc.
13. Depends, mutual funds would be your best bet as they have generally less risk.
14. Terrible idea, there probably will not be much left soon. Save now through investments.
15. Once he retires he is paid his income halfly after he retires after working so long.
16. A 401k is an investment program provided by your company that matches what you pay to a
certain amount. Roth IRA is basically the same thing but through the United States government
while the IRA is basically the ugly sister that has benefits. In my opinion the Roth IRA would be
the best in your situation as you have two million United States dollars at your disposal.
17. Just start investing early, there are several plans out there.
18.Yes, you can make sure you know where your money is going once you die.
19. Your spouse, or someone you trust should be your executor.
20. If you do not have a will the government will distribute your property.
21. When a person gives property to another person for the benefit of a third person.
22. 17.5 years.
23. The interest compounds on itself and at the same time makes interest.
24. Present value is how much something is worth now. Future value is how much something is
worth later. The value fluctuates based on supply and demand.
25. It is a fixed sum of money for the rest of your life. In short...
26. Depends, if the economy is good do variable. If not use fixed.
27. Your credit card debt is unsecured while your student loans are secured.
28. No, trust no one, pay off your debt.
29. No, there are chapters 7 and 13 bankruptcy. You can not use them to get rid of your debt.
30. The purpose of that money is for tuition, you can use it for college. Pay off student loan.
31. Subsidized are better. You do not pay interest like the unsubsidized.
32. First, see how much money you can afford, second, prepare your finances, third, mortgage,
forth, buy the house.
33. Just rent a home until you can afford a good down payment. If you do buy, it depends but if
you can do a 15 year plan.
34. Depends, but, in my opinion buy a nice used car. Not a new car. Leasing is if you do not wish
to own the piece. But if it is a new car, it just depends.
35. Principal, Interest, Taxes, Insurance.
36. Yes, money per year times how many years. Most likely 30 years.
37. No, term insurance is better as it is cheaper.
38. Based on the income you make, you will need $750,000 in life insurance.
39. It is basically a giant pot. If you are injured you pay a deductible then they pay the rest. You
pay premiums every month for such protection.
40. Medicare is for caring for people 65+. Medicaid is for low income families. Disability is for
people who cannot work due to disabilities. Long term is for people in long term care.
41. Renters insurance, cheap and it protects you in this situation.
42. In short, don’t be stupid, be a smartie.
43. You must have liability through Federal law. But you should have comprehensive coverage if
you truly wish to be safe from an accident.
44. Be female, don’t drive a red car, be smart, stay out of accidents.
45. Determine your financial status, develop goals, identify course of actions, evaluate courses of
actions, create your financial plan.
46. Short term goal: get out of debt. Sell your assets to pay off your debt. Less than a year.
Intermediate goal: Get a job, start college. Long term goal: finish college, get a long term career
in order to make that money.
47. Education, career, supply and demand of a skill. You should evaluate how much you can
improve such things.
48. Assets, liabilities, and equity are on a balance sheet. After everything, net worth is $30,000.
49. Assets: checking, saving account. Beanie Babies, golf clubs, CDs, Bonds. As for liabilities:
car loan, gambling debt.
50. Two ratios are the leverage and liquidity ratios the leverage allows you to see how much you
control of a market. While liquidity is how liquid your investments are.
51. A budget allows you to know where your money is going and allow you to better save for
retirement.
52. In my opinion, at the moment you do not need to have a planner. All you truly need to do is
sell your assets and pay off your debts. You do not need more debt.
53. They don’t make any money and you can’t take any money out what fees.
54. So you can get your money quickly.
55. Pay yourself first, so you must pay yourself pay yourself first once paid, interest, etc, self
explanatory.
56. Well there are no accounts listed above, but, debt is a huge detail as well as the fees that may
apply. Cards are usually very liquid.
57. In the end, it depends. If you would like to start building your credit then yes. If not, just do
not get it. Cash is king.
58. If you get a credit card, be a max payer. Pay in full each and every time in order to avoid
interest and fees.
59. A credit card is a card that you use to borrow money, you must pay back with interest if you
do not make the payments in time. Grace period is a period of time that you do not need to pay
interest.
60. Your credit score is 650, you can improve it by making payments on time. Credit scores
determine how much you pay in loans and your reliability .
61. A credit score is your number of your credit reliability. While a credit report allows you to
find that number.
62. Both if you can, but it depends on how much risk you are willing to take. Stocks have high
risk while bonds have lower risk.
63. A growth stock, as you are younger you should be more risky to build more wealth.
64. An index fund is basically a mutual fund with a portfolio.
65. The three types of investment strategies are value, growth, income. The best in their situation
would be value, in order to build wealth for retirement.
66. They are basically a loan for a government or a company. It is lower rsk, pretty much a loan.
67. You could invest in real estate reit and lower the risk.
68. Perhaps he invested in first, or is a higher tier investor.