Ugba 135 Midterm #1 Actual Exam 224-2025 Latest Version Questions And Accurate Answers Already Graded A+

UGBA 135 Midterm #1 ACTUAL EXAM 224-2025 LATEST VERSION QUESTIONS AND ACCURATE ANSWERS ALREADY GRADED A+ 21st Century Millionaire - Someone who can financially take care of themselves without help from any government agency, living the life they want to lead - After working for 40 years, only 5% of people are financially independent (don't need government assistance) The cornerstone of their wealth = is being frugal (not cheap, but value-oriented) --> budgeting and spending carefully, living within their means - People who succeed have goals Do not outlive your money - Longevity is more of an issue than saving for retirement, - Invest in yourself now! (education, whatever you need to achieve your goals) Divide between rich and poor - 50% of our country is broke (top 1% pays 40% of income taxes) - Top 5% pays 60% of income tax - 47% of households do not pay federal income tax Burden of saving for retirement Shifting from employer to employee! Companies can no longer afford to pay for the healthcare of theiremployees, now employees must take on the burden of saving for retirement, investing and medical care Good Debt vs Bad Debt Good Debt = education, car, mortgage,