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 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. Alex wants to open a personal retirement account. He is willing to take the tax hit now in order to enjoy tax-free withdrawals when he retires. What plan would you recommend? O Roth IRA O Traditional IRA Carl is a sole proprietor. He wants to create a retirement plan that requires the least amount of setup and maintenance effort. What type of pla Carl most likely going to open? O SEP-IRA O Keogh Ji is 34 years old and is going to open a personal retirement account, even though right now he is on a very tight budget. Ji is committed to making a contribution to his new plan but otherwise needs as much cash available now as possible. What plan would you recommend? O Roth IRA O Traditional IRA Jared is a small-business owner who's decided to create a retirement plan that he believes will offer the most benefits to himself and his employees. Jared is willing to invest the time and money into setting up the plan and administering it. He knows that if maintaining the plan becomes too much to handle, he has the flexibility to convert it to a plan that's simpler to set up and maintain. What type of plan will Jared most likely decide to open? O SEP-IRA O Keogh 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 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. Alex wants to open a personal retirement account. He is willing to take the tax hit now in order to enjoy tax-free withdrawals when he retires. What plan would you recommend? O Roth IRA O Traditional IRA Carl is a sole proprietor. He wants to create a retirement plan that requires the least amount of setup and maintenance effort. What type of pla Carl most likely going to open? O SEP-IRA O Keogh Ji is 34 years old and is going to open a personal retirement account, even though right now he is on a very tight budget. Ji is committed to making a contribution to his new plan but otherwise needs as much cash available now as possible. What plan would you recommend? O Roth IRA O Traditional IRA Jared is a small-business owner who's decided to create a retirement plan that he believes will offer the most benefits to himself and his employees. Jared is willing to invest the time and money into setting up the plan and administering it. He knows that if maintaining the plan becomes too much to handle, he has the flexibility to convert it to a plan that's simpler to set up and maintain. What type of plan will Jared most likely decide to open? O SEP-IRA O Keogh
