are worth 2 points Part 2 of your assignment is answering the following questions based on this scenario: Assume that your favorite cousin comes to your house for Christmas. She knows you are taking a personal finance class. She comes to you and asks you about saving for retirement. She recently got a new job where her employer offers a 401 (k) retirement plan as a benefit. The employer also will contribute a 25% match to what she contributes. Assume her income places her in the 22% federal income tax bracket for 2021. Your cousin isn't sure if she should put money into the 401 (k) account. After all, she is only 23 years old and retirement is a long way off. Plus, she will get Social Security benefits when she retires. She really wants to keep her money and spend it on things she wants now. She can always start saving later when she makes more money. However, she has noticed that a lot of older people are still working at her local McDonald's and Walmart past age 65 and wonders why. Therefore, she asks you to give her some advice about whether she should start saving for retirement now or wait until later. She also wonders about opening her own IRA as her aunt has one. What do you tell her? Your answer should include the following items and you need to explain why you answered them the way you did: a. What a 401 (k) plan is and how it works. b. Should she invest in the 401 (k) plan now, or wait? If you say wait, how long should she wait? c. What the tax consequences to her would be if she invests in the plan