Hooray! You are almost done with module ten! Next, we’ll test your knowledge on the Fire Lifestyle!
After completing these practice questions, you will move into the next module.
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What does FIRE stand for?CorrectIncorrect
Maximize ________ plus minimize _________ and ______________.CorrectIncorrect
You can combat inflation by having investments that offer a rate of return that is less than the current rate of inflation.CorrectIncorrect
Which variation of the FIRE lifestyle acts as a middle ground between cutting back on expenses and generating more income to cover expenses?CorrectIncorrect
What is the biggest enemy of savings?CorrectIncorrect
Higher rates of inflation cause:CorrectIncorrect
What type of investment is done through your employer?CorrectIncorrect
________ can be just as effective in increasing your cash flow as earning more money.CorrectIncorrect
The difference between Coast and Barista FIRE is that individuals using the Barista FIRE method typically already have enough money saved to reach financial independence at retirement, and only work part-time to make extra money.CorrectIncorrect
“________ _______” is income that can be generated with little to no effort after setting it up.CorrectIncorrect