Tax advantage of Retirement Funds

Which is employer-sponsored

• 401(k)

• Roth IRA

Which has income restrictions?

• 401(k)

• Roth IRA

• both

• neither

Which has a maximum annual contribution allowed?

• 401(k)

• Roth IRA

• both

• neither

Which might possibly include "free money"?

• 401(k)

• Roth IRA

• both

• neither

Which takes money directly from your paycheck?

• 401(k)

• Roth IRA

• Both

• neither

Which one requires you to be 59.5 to withdraw without any penalities?

• 401(k)

• Roth IRA

• both

• neither

401K's give you tax benefits now while Roth IRA’s give you tax benefits in retirement.

• True

• False

You can contribute to both a Roth IRA and a 401K in the same tax year.

• True

• False

When is the best time to open a Roth IRA?

• When you first start working

• After working for 10 years

• After working for 30 years

• After the company goes out of business

An employer match is "free money"

• True

• False

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2