Unit 7 vocab by Zelda Luck

zl22584 — 2025-05-01 17:29:33 UTC

A contract by which individuals pay a set amount on a regular basis until retirement, and when the individuals retire, the company pays a set amount to the retiree for life or until the contract ends

zl22584 — 2025-05-01 17:30:17 UTC

An individual's financial positives, like cash, home equity, or a car owned outright

zl22584 — 2025-05-01 17:31:03 UTC

Plans whereby the employer allots an amount of money to be paid to an individual during retirement

zl22584 — 2025-05-01 17:31:37 UTC

Plans whereby the employee contributes to a fund that will grow and can later be used for retirement

zl22584 — 2025-05-01 17:32:01 UTC

Tax-deferred plans managed by the employer

zl22584 — 2025-05-01 17:32:28 UTC

Tax-deferred plans used by self-employed individuals and small businesses

zl22584 — 2025-05-01 17:32:54 UTC

An individual's financial negatives, like a car loan or credit card balance

zl22584 — 2025-05-01 17:33:21 UTC

How much money a person has if they were to pay all debts and sell all assets

zl22584 — 2025-05-01 17:33:51 UTC

A financial document that outlines one's assets and liabilities in order to calculate their net worth on a given day

zl22584 — 2025-05-01 17:34:18 UTC

A list of one's personal property and how much it is worth

zl22584 — 2025-05-01 17:35:05 UTC

A retirement plan that is opened and managed by the individual; income taxes on money for the retirement plan are paid when it is earned rather than when it is withdrawn from the account

zl22584 — 2025-05-01 17:35:39 UTC

A retirement plan that allows small businesses to contribute to an employee's retirement

zl22584 — 2025-05-01 17:36:13 UTC

A social program designed for assisting the elderly or those unable to work

zl22584 — 2025-05-01 17:36:47 UTC

An account for which taxes are paid when the money is withdrawn rather than when the money is initially earned

zl22584 — 2025-05-01 17:37:14 UTC

A savings plan where pre-tax money is deposited to earn interest over a period of time

zl22584 — 2025-05-01 17:37:41 UTC

A tax-deferred retirement account opened and managed by the individual