Personal Finance: Chapter 14 & 15
Test Review LATEST UPDATES!!! 2026-
2027 | CORRECT SOLUTIONS WITH QUIZ &
ANSWERS | HIGHLY GRADED A+
A 401(k) plan is a - CORRECT ANSWERS-benefit that helps workers invest for
retirement
Roughly how much more does money grow when it's invested rather than deposited in a
traditional savings account? - CORRECT ANSWERS-about 100 times more
How can you invest for retirement if your employer does not offer a 401(k) plan? -
CORRECT ANSWERS-open an indivual retirement arrangement (IRA)
What is one example of a "brokerage" service? - CORRECT ANSWERS-allowing
customers to buy/sell stocks
How much of your income do experts recommend investing in a 401(k) account? -
CORRECT ANSWERS-10%
Opening an employer-provided 401(k) or an IRA is just the first step towards investing
for retirement. What other action do you need to take? Why? - CORRECT ANSWERS-
401(k)'s and IRA's are types of investment accounts. The next step is that you have to
pick investments that you want to have inside of the account. Opening the account
alone is not enough to start investing for retirement.
What are two significant advantages of a 401(k) over an IRA? - CORRECT ANSWERS-
- you can get free money through an employer match
- you can contribute more per year
What are the tax advantages of investing in a 401(k) or IRA? - CORRECT ANSWERS-
you can reduce your current tax bill and avoid paying taxes on your money's growth
while it's in the account.
According to the article, who should invest in a Roth retirement arrangement? -
CORRECT ANSWERS-People who have relatively lower incomes - and tax rates - now,
compared to what they expect to earn later in life
Test Review LATEST UPDATES!!! 2026-
2027 | CORRECT SOLUTIONS WITH QUIZ &
ANSWERS | HIGHLY GRADED A+
A 401(k) plan is a - CORRECT ANSWERS-benefit that helps workers invest for
retirement
Roughly how much more does money grow when it's invested rather than deposited in a
traditional savings account? - CORRECT ANSWERS-about 100 times more
How can you invest for retirement if your employer does not offer a 401(k) plan? -
CORRECT ANSWERS-open an indivual retirement arrangement (IRA)
What is one example of a "brokerage" service? - CORRECT ANSWERS-allowing
customers to buy/sell stocks
How much of your income do experts recommend investing in a 401(k) account? -
CORRECT ANSWERS-10%
Opening an employer-provided 401(k) or an IRA is just the first step towards investing
for retirement. What other action do you need to take? Why? - CORRECT ANSWERS-
401(k)'s and IRA's are types of investment accounts. The next step is that you have to
pick investments that you want to have inside of the account. Opening the account
alone is not enough to start investing for retirement.
What are two significant advantages of a 401(k) over an IRA? - CORRECT ANSWERS-
- you can get free money through an employer match
- you can contribute more per year
What are the tax advantages of investing in a 401(k) or IRA? - CORRECT ANSWERS-
you can reduce your current tax bill and avoid paying taxes on your money's growth
while it's in the account.
According to the article, who should invest in a Roth retirement arrangement? -
CORRECT ANSWERS-People who have relatively lower incomes - and tax rates - now,
compared to what they expect to earn later in life
