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3 years ago

If an employer does not offer a retirement plan, what might be another way to save for retirement?

Business

2 answers:

JulijaS [17]3 years ago

5 0

The option D is correct.

If an employer does not offer a retirement plan, then traditional IRA and Roth IRA might be another way to save for retirement.

Further Explanation:

A retirement plan is a plan in which an individual gets the lump sum amount of money after providing a specific number of services to the company. Sometimes, the employer does not responsible for retirement plan to their employees. In that case, the employee can take benefit of the traditional IRA and Roth IRA for save the money for retirement.

Justification for the correct and incorrect answer:

Traditional IRA: This option is incorrect.

Traditional IRA refers to type of individual retirement account in that employee can save his income for future use at the time of retirement. The employee opts for this account when the tax rate is lower at the time of retirement. This is not only the correct option.

Roth IRA: This option is incorrect.

Roth IRA refers to a type of individual retirement account in which the employee can save his income for future use at the time of retirement. The employee opts for this account when the tax rate is high at the time of retirement. This is not only the correct option.

401k plan: This option is incorrect.

401k plan is a type of retirement account that has been opened by the employers. This option is incorrect as in the question employer does not offer a retirement plan.

Both A and B:This option is correct.

As both options A and B is correct. So this is the correct option.

Learn more:

1. Learn more about retirement

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2. Learn more about life insurance

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3. Learn more about negotiating plan

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Answer details:

Grade: Middle School

Subject: Taxation

Chapter: Retirement plan

Keywords: An employer, does not offer, retirement plan, might, another, way, to save, traditional IRA, Roth IRA, 401k plan, individual retirement account, lump sum, amount of money.

Strike441 [17]3 years ago

3 0

I would think the answer D cause they both have good plans

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