Retirement Review

Income for social security is always more than enough to live on for retirement.

• true

• false

You should borrow money from your retirement account.

• true

• false

You can withdrawl money from your Roth IRA when you are .... years old

• 55

• 60

• 65

• 59.5

Earnings are tax free for a Roth IRA.

• true

• false

Which is tax deductible?

• traditional IRA

• Roth IRA

For a 403b plan, it is tax deferred, which mean you pay the taxes when you...

• contribute the money

• withdraw the money

For a 401K match, employers match an employees contribution with 100% of whatever the employee contributes.

• true

• false

For a 401K Plan, the amount of money deducted from your pay is taken out from your ___ earnings.

• pre-tax

• post-tax

Pension plans are common.

• true

• false

Social security is based on credits you earn. You earn these credits for the length of time and how much you earn during your working years.

• true

• false