Intro to Retirement
Retirement Savings Plans
Is this where we get into 401(k)s?
Yes, but we’re also going to discuss three other plans: 403(b)s, 457s, and—for those us lucky enough to still have them—employer pensions.
What is the maximum amount you can contribute to a 401(k)?
$24,500
There is no maximum
$7,500
$15,000
What’s the purpose of an employer-based 401(k)?
To allow employees to save for higher education
To allow employees to pay no taxes on withdrawals
To allow employees to save for retirement
To allow employees to save for a home
What is a 401(k) match?
A type of stock that’s only available in a 401(k)
The amount that your employer contributes to your 401(k)
A game designed to improve your memory function
The return you make on your 401(k) investments