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26 Cards in this Set
- Front
- Back
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What is the Rule of 72?
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72/(Interest repayment rate)=time it takes to double the investment size
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What does Dr. E recommend to us?
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Roth IRA though he did a traditional IRA because when he started that was all that was available
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What makes this better than a 401k?
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Simplified Employee Pension IRAs have relatively small administrative fees. 401Ks have a huge administration fee and for this reason are only used by large companies.
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What is the AGI?
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Gross Income-Deductions=Adjusted Gross income
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How much are we now allowed in exemptions for each person we claim?
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$3500
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How much are we allowed in tax credit for child and dependent care? child education? child tax credit?
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$3000, $1500, $1000
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