Finance

posted by .

Now that you have a full time job you are ready to start investing for retirement. Your corporation will match 50 cents of each dollar that you put in your 401K account up to the first $7,000. You have altogether $15,000 that you can afford to save this year. How should you split your money between your 401k account and IRA accounts? Which type of IRA account probably makes the most sense at your age? (age is 21) Explain your decisions.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. econ

    Suppose you inherit $10,000 and decide to use the money to start a lawn-care business. You purchase a truck and a mower for $10,000 and start mowing lawns. Your annual cost for fuel and other supplies is $2,000. Now, instead of investing …
  2. corporate finance

    1)You have just turned 30 years old, have just received your MBA, and have accepted your first job. Now you must decide how much money to put into your retirement plan. The plan works as follows: Every dollar in the plan earns 7% per …
  3. Math

    Luis has $150,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over" his assets to a new account. Luis also plans to put $3000/quarter into the …
  4. finance

    You currently have $22,500 in your retirement account. What annual rate of return will you need to make on your investment in order to have $1,000,000 in the account on your 60th birthday?
  5. Finance

    You are 45 years of age and your asporation is to retire in 17 years at age 62. Assume you are about to set up a new retirement savings account at a 4% annual interest rate (APR). Based on how you want to live in retirement, and any …
  6. finance

    company starting salary 75,000 retirement benefits 401k with annual contribution of 5% company will match 3% (for max contribution of 8% salary) avg 401k return within mutual fund options at 8% per year sign on bonus 0 annual bonus …
  7. Finance

    Simon wishes to have $400,000 in a retirement fund 20 years from now. He can create the retirement fund by making a single lump sum deposit today. How much would Simon need to have on deposit at retirement in order to withdraw $35,000 …
  8. math

    Barry heard in his Personal Finance class that he should start investing as soon as possible. He had always thought that it would be smart to start investing after he finishes college and his salary is high enough to pay the bills …
  9. Finance

    Joseph is 28 and would like to retire at 55. He has $25,000 to invest today and would like to have $1,000,000 in his retirement account when he retires. Joseph has found an investment that will pay him a return of 6% until retirement. …
  10. Finance

    You want to be able to withdraw $25,000 from your account each year for 20 years after you retire. If you expect to retire in 25 years and your account earns 7% interest while saving for retirement and 6.7% interest while retired Round …

More Similar Questions