Strategy Beginner: Automatic Savings and Investment Plans

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1.
Savings accounts can be ideal candidates for automatic investing plans _______.
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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.
2.
Automatic withdrawals from an existing savings account can be used to fund _______.
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All of the above. Automatic investing can build up your investments for you.
3.
Automatic savings and investment plans are often used to fund _______.
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All of the above. These are the most common uses for automatic plans.
4.
An advantage of using an automatic investment plan to fund a retirement account is that it can benefit from compounded earnings as it grows.
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True. Most retirement plans benefit from compounded growth of earnings.
5.
An automatic savings plan withdraws money from an existing savings or checking account on a periodic basis and deposits it into another account.
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True. The period is usually monthly or weekly.