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10 November, 16:48

If you work your entire life, then you will be adequately prepared for retirement, even without a retirement plan in place.

True - False

403 (b) plans are offered by various corporations.

True - False

IRA stands for Important Retirement Assets.

True - False

It is always good to invest in a retirement account at a young age so you can use the money to pay for a down payment on a house.

True - False

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Answers (1)
  1. 10 November, 19:57
    0
    all are False

    Explanation:

    1. Working in the US does nothing to ensure you will have an adequate retirement benefit. Social security may provide a little income, but usually won't pay the rent.

    2. 403 (b) plans may be offered by some tax-exempt organizations--not by corporations. Corporations may offer a 401 (k) plan.

    3. IRA stands for "Individual Retirement Account."

    4. It is a good idea to invest in a retirement account at a young age so you can take advantage of interest compounding. Using the money for anything other than retirement is not recommended.
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