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14 January, 00:55

What is the purpose of tax-deferred retirement accounts?

A. To encourage consumers to invest money before it is taxed

B. To level high taxes on a consumer at retirement age

C. To collect taxes during retirement at higher rates

D. To trick consumers into investments that will incur fines and penalties

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Answers (1)
  1. 14 January, 03:12
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    The idea is to put time on your side, allowing years of investment savings and income to compound, without having to pay tax on it. You can accumulate tax-deferred savings in several ways: Fund tax-deferred accounts like an IRA or employer-sponsored retirement plan such as a 401 (k), 457 or 403 (b) plan./

    answer is b
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