Facts: You estimate annual earned income from your employer at $60,000 plus a $3,000 bonus. In addition, you project $150 in interest and $300 in ordinary dividends. The maximum your employer will contribute to your traditional 401(k) plan is 50 cents for each dollar you contribute up to a maximum employer contribution of 3% of your annual earned income. Personal Goal: Save 15% of your annual earned income. Determine for each of two Scenarios your after-tax contribution (out-of-pocket cost) to save that 15%. Scenario 2: Using the same "Facts" given above, calculate the following option which may also be available to you. 17. Suppose you decide to contribute to a Roth 401(k) plan, how much would you need to contribute to receive the maximum employer contribution?.... .. 18. Based on your contribution, how much will your employer contribute to your Roth 401(k) plan?..... 19. How much will your employer contribute to your traditional 401(k) plan?... 20. If you are in a 22% federal tax bracket, how much of your contri to your Roth 401(k) plan will be tax deductible? .........S 21. Of the total contribution made by you and your employer, how much is tax deductible to you?.. 22. If your goal is to save 15% of earned income, how much will you have to save to reach your goal?......... S .S 23. How much is already being contributed by you and your employer?... 24. How much more do you need to save to reach your goal of 15%?.. 25. If you add the amount in #24 to your traditional 401(k) account to reach your goal, what will be your after tax cost of this amount?............. 26. What will be your total after tax cost to reach your goal of saving 15% of earned income under Scenario 2?........ 27. How much was contributed by other parties?...................... .................. 28. What % was contributed by other parties?... 29. What was contributed by you on an after tax basis?........ 30. What % of the total contribution is in your Roth 401(k)?....._ 31. How much of the amount in #24 could you have contributed to a traditional IRA?...... Facts: You estimate annual earned income from your employer at $60,000 plus a $3,000 bonus. In addition, you project $150 in interest and $300 in ordinary dividends. The maximum your employer will contribute to your traditional 401(k) plan is 50 cents for each dollar you contribute up to a maximum employer contribution of 3% of your annual earned income. Personal Goal: Save 15% of your annual earned income. Determine for each of two Scenarios your after-tax contribution (out-of-pocket cost) to save that 15%. Scenario 2: Using the same "Facts" given above, calculate the following option which may also be available to you. 17. Suppose you decide to contribute to a Roth 401(k) plan, how much would you need to contribute to receive the maximum employer contribution?.... .. 18. Based on your contribution, how much will your employer contribute to your Roth 401(k) plan?..... 19. How much will your employer contribute to your traditional 401(k) plan?... 20. If you are in a 22% federal tax bracket, how much of your contri to your Roth 401(k) plan will be tax deductible? .........S 21. Of the total contribution made by you and your employer, how much is tax deductible to you?.. 22. If your goal is to save 15% of earned income, how much will you have to save to reach your goal?......... S .S 23. How much is already being contributed by you and your employer?... 24. How much more do you need to save to reach your goal of 15%?.. 25. If you add the amount in #24 to your traditional 401(k) account to reach your goal, what will be your after tax cost of this amount?............. 26. What will be your total after tax cost to reach your goal of saving 15% of earned income under Scenario 2?........ 27. How much was contributed by other parties?...................... .................. 28. What % was contributed by other parties?... 29. What was contributed by you on an after tax basis?........ 30. What % of the total contribution is in your Roth 401(k)?....._ 31. How much of the amount in #24 could you have contributed to a traditional IRA