Ramsey Classroom Ch. 3 Post Test 100% Correct

Ramsey Classroom Ch. 3 Post Test 100% Correct In order to outpace inflation when investing, your investments need to have a lower rate of return than the rate of inflation. - Answer️️ -False _______ is a millionaire's best friend. - Answer️️ -Compound growth The only place you should keep your emergency fund money is... - Answer️️ -A savings account or money market account Compound interest is earned at a fixed rate, while ________ is an average based on an investment's past performance. - Answer️️ -Compound growth Which two habits are the most important for building wealth and becoming a millionaire? - Answer️️ -Consistently investing money and patience to give it time to grow What is the goal of an emergency fund? - Answer️️ -To have cash on hand for unexpected events 90% of millionaires make over $100,000 a year. - Answer️️ -False Once you have a $500 emergency fund, you should . . . - Answer️️ -Save it until you have an emergency Why do stores rarely advertise the full price of big purchases like smartphones? - Answer️️ -By showing you only the monthly payment, they make the product seem affordable.