Investing for Retirement

Front

Which of the below is an employer based retirement plan that both employees and employers contribute to?
Options: Traditional IRA, Roth IRA, 401K, Pension

Back

401K

Front

What type of employers usually offer pension plans for employees? Options: Government agencies, fast food restaurants, small start ups, private schools

Back

Government agencies

Front

Which of these accounts do you set up at a brokerage firm or other financial institution? 401K, Pension, Individual Retirement Account

Back

Individual Retirement Account

Front

What is the difference between a Traditional and Roth IRA?

Back

A traditional IRA's contributions are not taxed until you withdraw them at retirement. A Roth IRA's contributions are taxed when you invest.

Front

Which of these accounts will NOT change if you switch jobs? IRA, 401K, Pension

Back

IRA

Front

Which of below accounts is your contribution directly taken out of your paycheck? 401K, IRA

Back

401K

Front

Which type of account will your employer often "match" your contributions?

Back

401K

Front

What does tax deferred mean?

Back

You pay taxes at a later date when the money is withdrawn.

Front

The money put into this type of account has already had taxes taken out.

Back

Roth IRA

Front

Most Americans will have enough money from Social Security to retire comfortably.

Back

False