Compare tax advantage retirement plans, including Individual Retirement Accounts (IRAs), Roth IRAs, 401(k) plans, and 403(b) plans, and determine an appropriate investment for retirement
Calculate tax treatment penalty for early withdrawal
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Q 1/5
Score 0
Which of the following is NOT a retirement agreement granted through an employer?
300
Roth IRA
All of these are granted through an employer.
401(k)
403(b)
Q 2/5
Score 0
What is one advantage that a 401(k) has over an IRA?
300
You can use 401(k) funds, up to $10,000, to buy your first home.
You can start getting level payments from your 401(k) when you turn 55.
You can pull out money up to what you contributed without paying a penalty.
Your employer will often match whatever you contribute to your 401(k), up to a certain percentage.
5 questions
Q.
Which of the following is NOT a retirement agreement granted through an employer?
1
300 sec
130.180.F.11.A
Q.
What is one advantage that a 401(k) has over an IRA?
2
300 sec
130.180.F.11.A
Q.
What is one advantage that an IRA has over a 401(k)?
3
300 sec
130.180.F.11.A
Q.
Why is it important to contribute to your retirement account as early as possible?
4
300 sec
130.180.F.11.B
Q.
Ferdinand has a traditional IRA with a balance of $14,756. He has contributed $8,000 over the life of his IRA. How much money can he withdraw without a tax penalty?
