Back to School: What Can We Learn from Financial Literacy Tests?
Kim Butler and Todd Strobel stay after class to finish their test. Questions about Financial Literacy are asked, answered, and discussed as Kim and Todd go through the last half of a financial literacy test.
This section of the test features segments about saving and investing. Also, the final part of our test asks a few questions about taxes and the role of government over your money.
Sit down and take out a No. 2 pencil for today’s episode of the Prosperity Podcast!
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[0:38] Irrelevant Questions
[2:01] Annual Interest Earned on a Savings Account from a Bank
[3:19] Mutual Funds and Securities
[5:53] Accounts for Retirement with After-Tax Contributions
[7:16] Conservative Holdings on an Account
[9:30] Families Most Affected by a 10-Year Period of High Inflation
[12:26] Assets that Protect You Against Inflation Increases
[13:49] Actions to Benefit Large Sums of Money (and the importance of liquidity!)
[15:39] How to Calculate Savings
[16:30] Taxes that Change When You Move
[17:47] Retirement Income from the Federal Government
[18:30] United States Corporate Tax Rates
[21:49] Federal Income Tax Payment
[24:45] Prosperity Accelerator Pack
[25:31] Send Us More Questions
Tweetables:Most high schoolers think the only definition of investment is stock market. It’s a great interest of ours to better educate our children. Click To Tweet We’re automatically teaching that you have to associate higher risk with higher returns and that’s not true. Click To Tweet The return OF your principle is more important than the return ON your principle. Click To Tweet
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