09/22/2026
🍂 Fall Into Financial Literacy! 🍂
It’s the first day of fall, so let’s learn something new about money! How many of these financial basics do you know?
🍁 Roth vs. Traditional IRA?
With a Traditional IRA, you may receive a tax benefit when you contribute, but generally pay taxes when you withdraw the money. Roth IRA contributions are made with after-tax dollars, and qualified withdrawals are tax-free.
🍁 How does compound interest work?
It’s earning interest not only on your original money, but also on the interest it has already earned. Over time, that compounding can make a big difference.
🍁 What does your credit score measure?
It helps lenders assess how likely you are to repay borrowed money. Factors can include payment history, amounts owed, length of credit history, new credit, and credit mix.
🍁 Stock, bond, mutual fund, or ETF?
A stock represents ownership in a company. A bond is essentially a loan to a company or government. Mutual funds and ETFs pool money to invest in a collection of securities.
🍁 How are Social Security benefits calculated?
Your benefit is based largely on your earnings history—generally using your highest 35 years of earnings—and the age at which you claim can affect how much you receive.
🍁 What is an RMD?
A Required Minimum Distribution is the amount you generally must begin withdrawing annually from certain retirement accounts once you reach the applicable starting age.
Financial literacy starts with understanding the basics. Keep learning, keep asking questions, and keep growing your financial knowledge.
Happy Fall from Elevate Wealth Advisory! 🍂
