Question

A great way to get a sold start to investing is through some of the options...

A great way to get a sold start to investing is through some of the options offered in your workplace. What are examples of some of thew savings tools that can be offered through your employer and how do they work?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

There are several savings tool that are offered through the employers. Some of them are discussed below:

401(k) plan – This tool is a qualified employer sponsored retirement plan. This tool allows eligible employees to make salary-deferral contributions and the employers make matching or non-elective contributions to the plan. The contributions by the employers are made on behalf of the eligible employees.

Simple IRA – This savings tool allows employers to set up IRAs easily and employers match employee contributions. Employers can also make unmatched contributions.

SEP IRA – SEP is simplified employee pension. In case of SEP IRA employer has to contribute for all eligible employees who meet certain requirements. SEP IRAs are mainly used by small business owners.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1) You have just paid your subscription to Investing Wisely Weekly through the end of this...
1) You have just paid your subscription to Investing Wisely Weekly through the end of this year. You plan to subscribe to the magazine for the rest of your life. You have two options. You can either renew the subscription annually by paying $85 at the end of each year or you can get a lifetime subscription for $620 payable immediately. Assuming that you can earn 6.0% on your funds and that the annual renewal rate will remain constant, how...
1. From your own experience, in what way has the economy impacted you in the last...
1. From your own experience, in what way has the economy impacted you in the last year? Give some examples. Do you think the economy has impacted you in a positive or negative way? Why? Let me know what you think. 2. If economics is the study of how we choose to use resources, what are some of the choices that you have had to make in the last week or month that connect you to the economy? Give some...
To me, the aspect of the economy is to get back to the ‘normal’. In that...
To me, the aspect of the economy is to get back to the ‘normal’. In that way, people will start working which will boost our economy. However, as of now, I think it is unsafe to reopen the country due to the intensity of the virus. We should vote a president who has knowledge on making good decision such as protecting the citizens. We have already over 100,000 deaths in the country due to the lack of good decision making....
Consider the following two options related to one of old machine tools in your shop: Option...
Consider the following two options related to one of old machine tools in your shop: Option 1: You continue to use the old machine tool that was bought four years ago for $12,000. It has been fully depreciated but can be sold for $2,000. If kept, it could be used for three more years with proper maintenance and with some extra care. No salvage value is expected at the end of three years. The maintenance costs would run $10,000/year for...
1. Identify and describe a great manager. What makes him or her stand out from the...
1. Identify and describe a great manager. What makes him or her stand out from the crowd? 2. Have you ever seen or worked for an ineffective manager? Describe the causes and the consequences of the ineffectiveness. 3. Describe in as much detail as possible how the Internet and globalization affect any company today. 4. Name a great organization. How do you think management contributes to making it great? Identify different functions and show how they are related. 5. Name...
What are the NIPAs? Who collects the data? Where do you go to get it? What...
What are the NIPAs? Who collects the data? Where do you go to get it? What can you do with it? How good is it? Get some data and put the current state of the economy into perspective with some actual measures of activity. To start, find the most recent information on the major economic components... GDP, C, I, G, and NX (note that NX=X-M exports - imports) and see how they have been changing over the last few periods....
Title: Work Trade with Great Britain and Brazil 1 Abstract: This video explores the trading relationship...
Title: Work Trade with Great Britain and Brazil 1 Abstract: This video explores the trading relationship between Great Britain and Brazil, and how the British Consul is helping to improve the relationship through trade delegations. Work Trade With Great Britain and Brazil - 5:39 Key Concepts: globalization, trade, small business Notes: Great Britain and Brazil have been trading partners for some 200 years. At one point Great Britain was one of Brazil’s top five trading partners. Today though, Great Britain...
"Consider the following two options related to one of the old but special machine tools in...
"Consider the following two options related to one of the old but special machine tools in your machine shop. -Option 1: You continue to use the old machine tool that was bought four years ago for $12,000. It has been fully depreciated but can be sold for $1,800. If kept, it could be used for 3 more years with proper maintenance and with some extra care. No salvage value is expected at the end of 3 years. The maintenance costs...
Consider the following two options related to one of the old but special machine tools in...
Consider the following two options related to one of the old but special machine tools in your machine shop. -Option 1: You continue to use the old machine tool that was bought four years ago for $11,000. It has been fully depreciated but can be sold for $2,200. If kept, it could be used for 5 more years with proper maintenance and with some extra care. No salvage value is expected at the end of 5 years. The maintenance costs...
Consider the following two options related to one of old machine tools in your shop: Option...
Consider the following two options related to one of old machine tools in your shop: Option 1: You continue to use the old machine tool that was bought four years ago for $12,000. It has been fully depreciated but can be sold for $2,000. If kept, it could be used for three more years with proper maintenance and with some extra care. No salvage value is expected at the end of three years. The maintenance costs would run $10,000/year for...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT