Exit Ticket (11.9, 11.10) - Tang Xiong | Library

Instructions

Be sure to have completed the lessons for the Unit required for this exit ticket.

Required

2

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

You can invest your 401(k) into a wider variety of asset types than you could with an IRA.

You don’t pay taxes on your investments’ growth each year.

You can contribute up to $19,500, which is more than the limits for an IRA.

Your employer may match some of your 401(k) contributions.

Required

2

An employer-sponsored plan that pays out a set amount every year after you’ve reached retirement age.

An employer-sponsored plan that you contribute some of your salary to before taxes. Your employer may match contributions.

A retirement account anyone can open that you fund with money that you’ve already paid taxes on, so it grows tax-free.

A retirement account anyone can open that you fund with pre-tax dollars. You pay taxes when you withdraw the money.

Required

2

401(k)

Pension

Social security

Traditional IRA

Required

2

Higher fees

Lower returns

Harder to use

Lack of personal touch

Required

2

Understand what your goals are for using the app

Create an account first, then conduct research on the company behind the app

Find out what customer service and educational services the app provides

Read through customer reviews about the app

Required

2

Are usually higher than income taxes

Only apply to the richest 1% of investors

Are taxed the same no matter when you sell them

Are taxed differently depending on if you sell them before or after holding them for 12 months