Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
226. A retirement plan where employers often match part of an employee's contribution is
known as a:
227. Withdrawals from a traditional IRA prior to the age of 59½ are:
228. The new simple IRA plans allow employees of ________ companies to contribute larger
amounts than the traditional IRA.
229. The tax-sheltered program to encourage self-employed people to accumulate retirement
funds is called a(n):
230. The people who assist families in developing a comprehensive program that covers
investments, taxes, insurance, and retirement plans are called:
231. For someone with a family that includes young children, the first step in estate planning
should be to:
232. A _______ is a document that names a guardian for your children, states how you want
your assets distributed, and names an executor to handle your estate when you die.
233. A(n) __________ is the person named in a will to assemble and value the assets of the
deceased, handle tax matters, and distribute the assets.
234. Which of the following is least likely to result from the problems facing the Social Security
system?
235. The earnings of a traditional individual retirement account (IRA) are:
236. The biggest advantage of the Roth IRA is that:
237. The increase in the number of retirement plans approved by the federal government likely
indicates that:
238. For workers who qualify, the earnings from income invested in a traditional IRA are:
239. A Keogh retirement plan would be used by a(n)
240. Financial planners encourage individuals to begin contributing funds into an IRA as early
as possible. The major benefit of early and regular contributions is that:
241. Jack is thinking about preparing a durable power of attorney. This indicates that he wants
to:
242. As an employee of New Hampshire Industries, Kathleen has an opportunity to invest pre-
tax income in an employer-sponsored retirement plan. Her employer will contribute 50 cents for
every dollar that Kathleen contributes to this fund. This is an example of a(n):
243. Zach quit his job to open his own Internet consulting business. He now realizes that he
no longer has the benefit of a corporate retirement system. He should consider investing in a(n):
244. Bob has decided to contribute $2,800 to a Roth IRA. He is currently in the 25% tax
bracket. How will his contribution affect his income tax for the current year?
245. James is in the 30% tax bracket. What is the after-tax cost of a $3,000 contribution to his
traditional IRA account?
246. Hilda has contributed to a Roth IRA for the last several years. She is now in her late
sixties and has just retired. She plans to withdraw $3,000 this year from her Roth IRA. If she is in
the 25 percent tax bracket, how much tax will she have to pay on her withdrawal?
247. Which of the following is an indication that the government has recognized that problems
with Social Security funding make it highly unlikely that future Social Security benefits will be
sufficient to provide retirees with enough income for a comfortable retirement?
