3.10 EXIT TICKET- How to Invest for Retirement Exit Ticket

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1.401(k)s and IRAs are both…

• Types of investments that you can choose to have in an investment account
• Investment accounts that are commonly offered by employers
• A type of savings account that generally offers around a 1% rate of return
• Investment accounts that you can open to help you invest for retirement

2. All of the following are advantages of a 401(k), EXCEPT…

• You don’t pay taxes on your investments’ growth each year
• You can invest your 401(k) into a wider variety of asset types than you can with an IRA
• Your employer may match some of your 401(k) contributions
• You can contribute more money into a 401(k) than into an IRA

3. Which type of retirement account is an investment option for ANY young person?

• Traditional IRA
• Pension
• 401(k)
• Social security