Discover Your Financial Future in 7 Minutes... or Less!   Question 1    How much did the Ford Mustang originally cost in 1965? $18,000-20,000 $10,000-$15,000 $1,800-2,300   Question 2    Which is a better financial strategy when purchasing a car? Purchase a new car. Purchase a car 2-4 years old. Finance a car for 5 years.   Question 3    What is a mutual fund? A combination of many different stocks and bonds. An investment that high risk people take to grow their money. A group of stocks or bonds that I pick and choose.   Question 4    What is best way to begin saving money in taxes? Make money under the table. Use legitimate and legal tax strategies. Wait for the governmet to change the tax code.   Question 5    The tax code was written by the rich to benefit... themselves poor people the middle class those that use it wisely   Question 6    What is the best way to turn a vacation into a business trip? Have a business appointment scheduled and documented at a location I want to visit. Use a different credit card for all expenses that relate to the business activity. Keep a time record of activities and appointments. All of the above.   Question 7    What is the best way to retire - especially if you are behind schedule? Forget about it, it will never happen. Get a new game plan for taking action in place immediately. Wait for the government to figure it out.   Question 8    What is something I can do to better secure a safe retirement? Hope and pray I get a social security check someday. Start a Roth IRA now, even if I'm in debt. Learn how to invest in real estate income property with no money. 2 and 3   Question 9    What does it mean to retire? Not working unless I want to. Becoming 65 and hoping it will all work out. Having the time, the money, and the health to enjoy life without having to work.   Question 10    Financially successful people...(fill in sentence) Don't know it all. Know it all. Don't know it all - but know people who do.   Question 11    The worst way to create financial safety is to... Diversify my income. Have a fall back plan. Get another job.   Question 12    Financially successful people think... Short term / they don't really consider the future consequences of their current actions. Long-term / they seriously consider the future consequences of their current actions. They don't really think about it - they just do it.   Question 13    Financially successful people... Have written goals and a game plan for success. Fly by the seat of their pants, hoping and praying it will somehow work out. Wait for someone else to give them permission to get real money.   Question 14    What is the best way to becoming debt-free? Live below my means. Learn how to earn more money. Understand the time value of money principle. All of the above.   Question 15    If I'm in debt, what is the next best step to take? Unhook my phone. Ignore it and creditirs will eventually go away. Begin a new plan of action to fix the situation.   Question 16    Successful investors use which Master Strategy? Buy low-sell high. Understand the investment they are dealing with. Investment values are based on supply and demand in an active marketplace. All of the above.   Question 17    How much earned income can be contributed pre-tax to a tax deferred SEP-IRA in one year? $4,000 $20,000 up to 25% of earned income up to $44,000 25% of earned income up to $44,000   Question 18    How much is the current (SE) self-employment tax? 12.4% up to 94,200 of earned income 15.3% up to 94,200 of earned income 2.9% with no earned income limit   Question 19    What is the current (2006) actual use deduction per mile for use of an automobile used for business purposes? 44.5 cents per mile 33 cents per mile 29 cents per mile   Question 20    If you claimed $100,000 earned income in 2006, approximately how much would you pay (combined) in SE, federal and state income tax? about 10-15% or $10-$15,000 about 35-40% or $35-$40,000 about 15-20% or $15-20,000   Question 21    How often do you actual see and review your credit profile? once a year never every 6 months every 3 months   Question 22    Who is responsible if you've been a victim of identity theft? I am guilty until I prove myself innocent. My credit card company. The identity crook.   Question 23    Approximately what percentage of people have already been effected by identity theft? 5% 10% 15%   Question 24    Who is most vulnerable to ID theft? people who have good credit people who have significant assets people who don't monitor their credit profile both 1 and 3   Question 25    What is the difference between a Roth-IRA and a Traditional IRA? The contributions to a Roth-IRA grow tax-free according to current tax law. The Roth-IRA contribution is funded with pre-taxed dollars The Roth-IRA can only be used by self-employed people.   Question 26    How much can I contribute (2006) to an HSA (health savings account) and be used towards medically neccesary expenses? up to $1,000 based on your current health plan (if you have one) up to $5,250 based on current health plan (if you have one) up to $3,450 based on your current health plan (if you have one)   Question 27    The HSA is funded with what type of money? pre-taxed dollars saving me potentially thousands in taxes each year after-taxed dollars not saving me anything in taxes this year can only be used by self-employed people   Question 28    What is the maximum interest I can be charged by a credit card company according to current government regulations? 21% 18% there is no ceiling it's legal loan sharking 12% plus prime   Question 29    What is the maximum a credit card company can charge you for a late fee? $29 $29 plus interest no limit according to current permitted regulations   Question 30    If you invested $10,000 into a real estate investment and received postive cash flow of $100 per month, a depreciation deduction of $815, and appreciation of $3,000; what would be your approximate ROI (return on investment) after taxes? 50% ROI 10% ROI 26% ROI   Question 31    How is money really made? People make money Government prints money Money makes money Both 1 and 3 only   Question 32    If I mortgage a property for 15 years versus 30, about how much will I save in interest? 17-23% 24-29% 30-34% none          First Name :      Email :