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1. To start making my financial dreams a reality, I should:

A) Track down people who owe me money

B) Keep track of my spending

C) Make tracks to my rich uncle for a loan



2. What's the quickest way to go through $20?

A) Buy lottery tickets

B) Go to Starbucks twice a day

C) All of the above



3. Where should I stash my cash?

A) Under the mattress

B) Open a no-fee checking account with direct deposit

C) In my wallet after I leave the check cashing place



4. I am up to my eyeballs in debt. What should I do?

A) Hold my breath and file for bankruptcy and hope my debt will be erased.

B) Find a Credit Counselor through the City's Office of Financial Empowerment.

C) Get a new credit card and keep charging.



5. My best friend advised me to set money aside for a rainy day.

A) No need for that, I am always lucky at bingo

B) I could always get money from my family in case of an emergency

C) I could open a savings account with my current bank with automatic deductions from my checking account.



6. How can Social Security protect my family's income?

A) Don't count on it; Social Security will not be there when we need it.

B) It may provide an additional source of income for me and my family under different circumstances.

C) Social Security benefits are available only after I reach Retirement Age.



7. Why should I open a 457 or a 401(k) account with the New York City Deferred Compensation Plan?

A) By contributing to a pre-tax account, I can get an immediate tax break and end up with almost the same take home pay I have now.

B) To add to my retirement income such as my pension and Social Security, and help to fight inflation.

C) All of the above



 

For more information, call a Certified Financial Planner professional at the Deferred Compensation Plan at 212-306-5050. Our Planners are there to answer your questions free of charge. They do not sell and product and do not work on commission. You may want to consider attending our seminar "Protecting Your Family Through Insurance Planning." Go to our website for the Calendar of free Seminars available through the Deferred Compensation Plan.

http://www.nyc.gov/html/olr/html/deferred/dcp_seminar_calendar.shtml