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Retirement Planning

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Questions and Answers

What is the main difference between traditional and Roth IRAs?

Traditional IRAs offer tax-deductible contributions, while Roth IRAs offer tax-free withdrawals. (correct)

Traditional IRAs and Roth IRAs offer the same tax benefits.

Traditional IRAs offer tax-free withdrawals, while Roth IRAs offer tax-deductible contributions.

Traditional IRAs and Roth IRAs are not retirement savings accounts.

True or false: A traditional IRA offers tax-free withdrawals.

False

Which retirement plan is funded solely by the employee?

Pension

Annuity (correct)

401(k) plan

IRA

True or false: A 401(k) plan is only offered by government employers.

False Signup and view all the answers

Which retirement plan is exempt from income tax?

403(b) plan Signup and view all the answers

True or false: An annuity is a retirement plan that is funded by an employer.

False Signup and view all the answers

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Description

"Get Retirement-Ready: Test Your Knowledge on Different Types of Retirement Plans!" Take this quiz to learn about the various types of retirement plans available and which one may be the best fit for your financial goals. From 401(k) plans to IRAs, test your knowledge and discover your retirement planning options. Don't miss out on the opportunity to secure your future and retire with peace of mind!