Let’s sit back and reflect…
description
Transcript of Let’s sit back and reflect…
![Page 1: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/1.jpg)
Let’s sit back and reflect…
With a little game of
Jeopardy
![Page 2: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/2.jpg)
IRA: Focus on the IRA: Focus on the FutureFuture
BasicsBasics TraditionalTraditional RothRoth CoverdellCoverdell FormsForms Hodge-Hodge-PodgePodge
$100 $100 $100 $100 $100 $100
$200 $200 $200 $200 $200 $200
$300 $300 $300 $300 $300 $300
$400 $400 $400 $400 $400 $400
$500 $500 $500 $500 $500 $500
$600 $600 $600 $600 $600 $600
![Page 3: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/3.jpg)
IRA: Focus on the IRA: Focus on the FutureFuture
BasicsBasics TraditionalTraditional RothRoth CoverdellCoverdell FormsForms Hodge-Hodge-PodgePodge
$100 $100 $100 $100 $100 $100
$200 $200 $200 $200 $200 $200
$300 $300 $300 $300 $300 $300
$400 $400 $400 $400 $400 $400
$500 $500 $500 $500 $500 $500
$600 $600 $600 $600 $600 $600
![Page 4: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/4.jpg)
Final Jeopardy
Please make your wagers now
![Page 5: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/5.jpg)
Mr. Brown is 66 ½ working as a “greeter” at Wal-Mart part-time. He makes $7,000/year. How much can Mr. Brown contribute for the current year?
![Page 6: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/6.jpg)
Final Jeopardy Answer
$6,000
![Page 7: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/7.jpg)
Basics $100
What does IRA stand for
![Page 8: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/8.jpg)
Basics $200
The three types of IRAs Safe 1 offers
![Page 9: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/9.jpg)
Basics $300
Give tax information, not tax __________
![Page 10: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/10.jpg)
Basics$400
The minimum amount a member can open an IRA with
![Page 11: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/11.jpg)
Basics $500
Name 2 of the 3 ways IRA accounts benefits the credit union
![Page 12: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/12.jpg)
Basics $600
The term used for the cut-off date for a previous year deposit
![Page 13: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/13.jpg)
Traditional$100
Under normal circumstances, this is the earliest age you can withdraw penalty-free
![Page 14: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/14.jpg)
Traditional$200
Under normal circumstances, at what age is a member required to take distribution
![Page 15: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/15.jpg)
Traditional$300
This reason for penalty-free distribution begins with “D” and ends with a “Y”
![Page 16: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/16.jpg)
Traditional$400
What does RMD stand for
![Page 17: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/17.jpg)
Traditional$500
What year was the Traditional IRA established?
![Page 18: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/18.jpg)
Traditional $600
10% and 1%
![Page 19: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/19.jpg)
Roth$100
The biggest benefit for a member to open a Roth
![Page 20: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/20.jpg)
Roth $200
$5,000 for 2008
![Page 21: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/21.jpg)
Roth$300
Age when the member is required to take distributions
![Page 22: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/22.jpg)
Roth$400
These can be withdrawn tax-free and penalty-free at any time
![Page 23: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/23.jpg)
Roth $500
5 years and first-time home purchase
![Page 24: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/24.jpg)
Roth$600
60 days/once in 12 months
![Page 25: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/25.jpg)
Coverdell$100
ESA stands for
![Page 26: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/26.jpg)
Coverdell $200
Maximum Annual Contribution amount
![Page 27: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/27.jpg)
Coverdell$300
Under normal circumstances, this is the maximum age limit for contributions
![Page 28: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/28.jpg)
Coverdell$400
Withdrawals are tax-free and penalty-free only for this type of expense
![Page 29: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/29.jpg)
Coverdell$500
The term used for the person responsible to over-see the account
![Page 30: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/30.jpg)
Coverdell$600
Under normal circumstances, this is the age that all funds must be disbursed by
![Page 31: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/31.jpg)
Forms$100
Every branch has one of these that contains IRA originals
![Page 32: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/32.jpg)
Forms$200
Our CUID
![Page 33: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/33.jpg)
Forms$300
This document is used to type the information onto the application
![Page 34: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/34.jpg)
Forms$400
The form required in order to open any IRA
![Page 35: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/35.jpg)
Forms$500
This area must be signed if the primary beneficiary is not the spouse
![Page 36: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/36.jpg)
Forms$600
Use this form if a member wants to move his/her IRA from KSFCU to Safe 1
![Page 37: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/37.jpg)
Hodgepodge $100
She is our IRA Specialist
![Page 38: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/38.jpg)
Hodgepodge $400
What was our name before Safe 1 Credit Union?
![Page 39: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/39.jpg)
Hodgepodge $200
Safe 1’s Motto
![Page 40: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/40.jpg)
Hodgepodge $300
Name 2 of the 4 people in the Operations Department
![Page 41: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/41.jpg)
Hodgepodge $500
The number of directors that serve on the Board
![Page 42: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/42.jpg)
Hodgepodge $600
This is Safe 1’s IRA Administrator
![Page 43: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/43.jpg)
Daily Double!!!
![Page 44: Let’s sit back and reflect…](https://reader035.fdocuments.in/reader035/viewer/2022062519/56815225550346895dc06b62/html5/thumbnails/44.jpg)
A Parting Gift for the Contestants