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1.
Automated transfers of money between two accounts require that those accounts be from two different institutions.
False. You can set up an automated transfer between two accounts at the same institution.
2.
A good way to determine how well you can afford to participate in an automatic savings plan is to find out where you are spending money needlessly in your budget.
True. This can become a new source of funds for you.
3.
Regular purchases of stock with money taken out of an existing account are an example of an _______.
Automatic investment plan. In this case, money is going toward buying investments.
4.
Savings accounts can be ideal candidates for automatic investing plans _______.
For either the short term or the long term. They are ideal for the risk averse, over either the short term or the long term.
5.
Investments high in risk can be ideal for retirement plans funded by automatic investment plans because _______.
The ups and downs in the market can smooth out over the course of years, leading to growth. Though there are no guarantees, historically the market's ups and down have done this.