One of the first accounts opened in the dependent life stage is:
A) Savings
B) Checking
C) Mortgage
D) IRA

Question

Quizplus · Accepted Answer

During the dependent life stage, individuals typically start saving for future expenses such as higher education, a down payment on a home, or starting a family. Therefore, opening a savings account is the best choice in this stage. Checking accounts are more focused on day-to-day expenses and may not be as important yet. A mortgage is not typically opened until later in life when purchasing a home becomes a priority. An IRA (Individual Retirement Account) is focused on saving for retirement, which is not a major concern in the dependent life stage.

One of the First Accounts Opened in the Dependent Life