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Personally Established Retirement Accounts These days, almost anyone can open personal, tax - sheltered retirement accounts whether or not they're enrolled in a plan at
Personally Established Retirement Accounts
These days, almost anyone can open personal, taxsheltered retirement accounts whether or not they're enrolled in a plan at work. Terms and provisions vary among plans, so it pays to do some homework before deciding which is best for your circumstances and goals. To help you focus on the aspects of different plans, answer the following questions.
Alison is a smallbusiness owner. She wants to create a profitsharing or moneypurchase retirement plan. What type of plan is Alison most likely going to open?
Keogh
SEPIRA
Madeline wants to open a personal retirement account. She is willing to take the tax hit now in order to enjoy tax free withdrawals when she retires. What plan would you recommend?
Roth IRA.
Traditional IRA.
Eileen is a smallbusiness owner. She wants to create a retinement plan and does not intend to contribute to it during years in which the business experiences a loss. What type of plan is Eileen most likely going to open?
Keogh
SEPIRA
Amy is years old and opened a traditional IRA when she was Amy earns less than $ per year. Her contribution for this year is $
This contribution is made entirely with:
aftertax dollars.
pretax dollars.
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