fill in chart

Instructions: In this activity, you will determine how much each person(s) are going to contribute to their retirement plans (401(k), Roth IRA). You will calculate 15% of an income provided in the worksheet and understand the proper order for funding retirement investments based on different personal situations. Review these details before getting started: -How to calculate 15% of an income: income x.15 -The steps to follow when funding a 401(k) and Roth IRA: -Always take advantage of a company match and fund the 401(k). -Above the match, fund Roth IRAs. If there is no match, start with Roth IRAs and fund up to the annual contribution limit. For the purposes of this exercise, use 2021 contribution limits of $6,000 per individual for Roth IRAs and $19,500 for 401(k)s. -Complete 15% of income by going back to your 401(k) or other company plans You will then complete the investment chart based on the facts given for each situation. You should first compute 15% of the annual salary to get the total annual amount for each individual. Write this amount in the total annual investment column, then divide that amount appropriately between the retirement accounts. DIRECTIONS Complete the investment chart based on the facts given for each person's situation. Assume each person or couple is investing 15% of their annual household income. Follow the order of contributions recommended on the next page. - Noa will take advantage of the company match ( 5% of salary) then put the remainder of his 15% into a Roth IRA. - Adrian will fund the 401(k) up to the match and put the remainder of his 15% into his Roth IRA. - Tyler and Aliyah can each fund an individual Roth IRA, then put the remainder in the 401(k). With no company match for the 401(k), they should fund the Roth IRA first (2021) contribution of $6,000 per individual). - Gabrielle is not eligible to open a Roth IRA because there's an annual earnings limitsince she makes more than $140,000 per year, she is not eligible to open a Roth IRA. She will max out her 401(k), then she will have to open a regular IRA with the remainder of her 15% investment. - Jayden and Britney are within the Roth IRA earnings limit for a married couple. After maxing out the individual Roth IRA accounts (2021 contribution of $6,000 per individual), they can put the remainder in their 401(k). - Cameron will fund his 401(k) up to the match, then put the remainder of his 15% into his Roth IRA. - Mariana will fund her Roth IRA since her company does not offer a 401(k) match