Strategy Beginner: Automatic Savings and Investment Plans

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1.
With an automatic savings or investment plan, funds are typically transferred to the target account on the same day each week or month.
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True. That regularity is important for the plan to work.
2.
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.
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.
Using an automatic investment plan to fund a retirement account is only for the young.
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False. Even later in life, you can still build up a sizable amount of money.
5.
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.