ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Retirement
|
|
|
College Savings
|
|
|
Low Interest
|
|
|
Stock
|
Detailed explanation-1: -A Roth IRA is an Individual Retirement Account to which you contribute after-tax dollars. While there are no current-year tax benefits, your contributions and earnings can grow tax-free, and you can withdraw them tax-free and penalty free after age 59½ and once the account has been open for five years.
Detailed explanation-2: -Both can help you save for retirement, but while a 401(k) is a tax-deferred plan offered through a workplace, a Roth IRA is an individual plan where you pay taxes on money before it goes in. A good place to start is simply to familiarize yourself with the retirement options you have.
Detailed explanation-3: -An individual retirement account (IRA) allows you to save money for retirement in a tax-advantaged way. An IRA is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis.
Detailed explanation-4: -S&P 500 index funds. One of the best places to begin investing your Roth IRA is with a fund based on the Standard & Poor’s 500 Index. Dividend stock funds. Value stock funds. Nasdaq-100 index funds. REIT funds. Target-date funds. Small-cap stock funds. 23-Nov-2022