Personal Finance- 4-2 Review: Retirement

Baby Step 4

• $1,000 Emergency
• Debt Snowball
• College
• 15% Into Reirement

What percent should you aim to retire on?

• 10%
• 15%
• 12%
• 6%

Tax-Favored Plan

• Qualified Plan
• Special Tax Treatment
• "Coat"
• All of the Above

Which is the BEST type of retirement plan to invest?

• Pre-tax

• After-tax

• Doesn't matter

What is NOT a type of retirement plan?

• 401(k)

• Individual Retirement Account

• SEPP

• 403(b)

IRA stands for Individual Retirement Account

• True
• False

The max contribution for an IRA/Roth IRA

• $6000

• $19,000

• 15%

• $55,000

Which is better: Roth IRA or IRA?

• Roth
• IRA

The main difference between Roth and Traditional IRA

• Roth is after-tax / grows tax free
• Traditional is pre-tax / grows tax free
• Traditional makes you invest more
• Roth has penalities

Which is a retirement plan for the Government?

• 401 (k)
• 403 (b)
• 457
• SEPP