Types of Retirement Plans

The rule of thumb suggests saving about ___% of your pre-retirement earnings.

• 50

• 60

• 70

• 80

True or False: Individual Retirement Accounts (IRAs) have no penalties for early withdrawal.

• True

• False

What is a key feature of Roth IRA contributions?

• They are tax deductible

• They are not tax deductible

• They have an age limit

• They are only for high-income earners.

Which of the following is NOT a feature of a Keogh Plan?

• Available to self-employed individuals

• Allows investment in CDs

• Withdrawals without penalty at 59.5

• Provides health insurance.

Employer retirement plans often have restrictions on when you can ________ the money.

• Invest

• Withdraw

• Deposit

• Lend