Dave Ramsey Chapter 11 Questions and Answers

Dave Ramsey Chapter 11 Questions and Answers Pre-tax means the government allows you to invest money after taxes are taken out. t/f - Answer️️ -False ESA's are a good way to save for college. t/f - Answer️️ -True Once you have a fully funded emergency fund, put 10% of your income into retirement plans. t/f - Answer️️ -False "457" plans are designed for employees of non-profit organizations such as hospitals and schools. t/f - Answer️️ -False If we used a race analogy to describe building wealth, it would be most like a marathon. t/f - Answer️️ -True You should never save for college using insurance, savings bonds or pre-paid college tuition. t/f - Answer️️ -true You should wait until after your emergency fund is in place before you invest in retirement funds. t/f - Answer️️ -True You should begin investing in retirement funds before your emergency fund is in place. t/f - Answer️️ -False If you borrow from your investments, you will likely pay taxes and penalties, but you will not unplug the investment, meaning it will not cease to compound. t/f - Answer️️ -False An IRA is the tax treatment on virtually any type of investment and it protects, or shelters, your money from taxes. t/f - Answer️️ -True