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Retirement Accounts
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401(k)
Offered by employers, pre-tax contributions, tax-deferred growth, employer matching is possible.
Roth IRA
Post-tax contributions, tax-free growth and withdrawals, no required minimum distributions.
457 plan
Non-profit and government employees plan, pre-tax contributions, no early withdrawal penalty.
Roth 401(k)
Employer-sponsored plan with post-tax contributions, no income limits, tax-free withdrawals.
403(b)
Similar to a 401(k), but specifically for non-profit and public education employees.
SIMPLE IRA
Savings Incentive Match Plan for Employees, for small businesses, requires employer contributions.
Thrift Savings Plan (TSP)
Federal employees and service members plan, similar to a 401(k), offers both traditional and Roth options.
Traditional IRA
Pre-tax contributions, tax-deferred growth, taxation upon withdrawal, required minimum distributions after age 72.
SEP IRA
Simplified Employee Pension plan, for self-employed or small business owners, higher contribution limits.
Defined Benefit Plan
Traditional pension plan, provides a fixed, pre-established benefit for employees at retirement.
Employee Stock Ownership Plan (ESOP)
Employees receive stock ownership, often at no upfront cost, fostering employee engagement and retention.
Variable Annuity
A tax-deferred retirement account that allows you to choose from a selection of investments, and then pays you a level of income in retirement that is determined by the performance of the investments.
Profit Sharing Plan
A plan where contributions are based on company profits, with flexible contributions from year to year.
SAFE HARBOR 401(k)
Encourages small businesses to offer 401(k)s by easing administrative burdens and removing some contribution limits.
Solo 401(k)
Designed for sole proprietors with no employees, allows for higher contribution limits.
Keogh Plan (HR-10)
Retirement plan for self-employed individuals and unincorporated businesses, has high contribution limits.
Spousal IRA
Allows a working spouse to contribute to an IRA in the name of a non-working spouse.
Money Purchase Plan
A type of defined contribution plan where employer contributions are fixed and not based on company profits.
Investment-Only Retirement Account
An account used by retirement account owners to give an investment firm access to invest in a wider range of securities.
Fixed Annuity
Offers a guaranteed payout in retirement, acting as a supplemental retirement account or an investment within one.
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