Financial Fact or Fiction
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Do you know the facts? Test your knowledge on what is financial fact and what is financial fiction.
Financial Fact or Fiction Archives
- More than half take out 401(k) hardship withdrawals to pay for school tuition or loans.
- 2 in 5 employers that suspended matching 401(k) contributions have reinstated them.
- The "Original Medicare" plan was put in place to cover 100% of medical expenses.
- The Economy is Experiencing a Time of Deflation.
- 30% of American families spend more money than the make!
- The U.S. Mint prints 26 million new pieces of paper money daily, using over 9.7 tons of ink per day.
- There are over 500 million credit cards issued and in circulation in the United States.
- There are 5 counterfeit bills in the U.S for every 10,000 legal bills.
- The average U.S. household credit card debt is over $14,000.00.
- "Father's Day" has been celebrated in the United States for more than 200 years.
- The Current Rate of Inflation is 3.6%.
- 90% of Homeowners Carry Enough Insurance on Their Homeowner's Policies.
- “Caveat emptor” is an important consumer principle.
- Ponzi schemes are a relatively new concept.
- The last government shutdown occurred in 1996.
- The average life expectancy in the United States is 72 years.
- Today’s unemployment rate is a post-World War II record.
- Interest rates always rise and fall in unison for both borrowers and depositors.
- The U.S. accounted for nearly half of the entire world’s debt in 2010.
- Celebrities don’t make to estate planning mistakes because they can afford the best legal advice.
- Only 10% of American workers have $1,000 or less saved for retirement.
- The unemployment rate is the lowest it’s been since April 2009.
- You have to pay a fee in order to access your credit report.
- Wall Street Bonuses Have Declined as a Result of the Recession
- Six in ten people stick to their New Year’s resolutions.
- The Social Security Program won’t run out of funds any time soon.
- A 401(k) is the best retirement savings vehicle for most Americans.
- The FDIC has one dollar on hand for every dollar insured in an FDIC account.
- If you lose 50 percent of your retirement nest egg in the stock market, it takes a gain of 100 percent on what is left to get back to where you were.