Answer:
1) Individual Retirement Account
2) Certificates of Deposits
3) Stocks
4) 401K Plan
5) Savings Account
Explanation:
1) Individual Retirement Account (IRAs):
Allow individuals to open an account and begin saving funds towards retirement with tax benefits; can be traditional or Roth.
2) Certificate of Deposits (CDs):
Similar to savings account but has higher interest rates, fixed terms and a fixed interest rate.
3) Stocks:
Investment in publicly traded companies; provides owner in a company, can be common or preferred.
4) 401K Plan:
Employee-sponsored benefit plans which provide individuals with the chance to put a portion of their earnings in a financial portfolio, contributions are exempt from income tax and can be rolled over into an IRA or future e.
5) Savings Account:
Earn interest overtime but have limited number of transfers and withdrawals allowed.
