Describes the principle of pay yourself first

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Reference no: EM131939747

1. Which statement best describes the principle of? “Pay Yourself First”?

A. Spend money on things you want before you buy the things you need

B. Save or invest money from your paycheck as soon as you receive it

C. Donate 10% of your paycheck before you add any money to your savings account

D. Spend 5-10% of your paycheck on entertainment before you do anything else

2. Our employer said that you have a 5-year graduated vesting plan for your employer's retirement plan. This means that if you leave your job after 3 years you will:

A. be able to take 60% of your employer's contributions and the earnings on those contributions with you to your new employer's retirement plan? (or a rollover IRA).

B. receive an employer matching contribution equal to $0.60 for every $1 you contribute.

C. will have to work for 2 more years before you can participate in your employer's retirement plan.

D. not be entitled to any of the funds in your? employer's retirement plan.

Reference no: EM131939747

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