ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Put a little money into retirement each month.
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Spend every dollar you have.
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Do not put money into a retirement account.
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None of the above three choices are correct.
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Detailed explanation-1: -Consider claiming double plan contributions or a retirement savings tax credit of your plan contribution. You may save more if you move to a state with no state taxes. Think about opening both a self-employment savings account and a health savings account.
Detailed explanation-2: -The safest place to put your retirement funds is in low-risk investments and savings options with guaranteed growth. Low-risk investments and savings options include fixed annuities, savings accounts, CDs, treasury securities, and money market accounts. Of these, fixed annuities usually provide the best interest rates.
Detailed explanation-3: -Stock ETFs and mutual funds. Low-cost index funds. Real estate (or REITs) Money market funds. Online savings accounts. Treasury bills. Certificates of Deposit. 06-Jan-2023