Say true or false

1) An annuity is only receiving regular payments (e.g. monthly) and does not apply to paying out regular amounts (e.g. monthly). True/False

2) A single person who has lived in her primary residence for a 3-years and sells her residence at $600,000 will have a $150,000 gain if she had originally purchased it at $200,000. True/False

3) Financial planning has to do with calculating information, moving toward goals and working hard and has nothing to do with psychology (psychology is for psychologists). True/False

4) An investment piece of real estate was purchased (cost) at $500,000 and sold at $750,000 by a single person after 2 years. That real estate transaction is considered tax free loss (zero taxes). True/False