Which type of retirement account remains unchanged even if you switch jobs?

Retirement Accounts Quiz

Quiz
•
Social Studies
•
12th Grade
•
Hard

Righteous Traveler
FREE Resource
11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Pension
Traditional 401(k)
Traditional IRA
Roth IRA
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which retirement account's eligibility may be affected by how long you work with a given company?
Pension
Traditional 401(k)
Roth IRA
Social Security
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of retirement account is offered by all employers?
Pension
Traditional 401(k)
Traditional IRA
Social Security
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which retirement account do you pay taxes when you eventually take the money out?
Pension
Traditional 401(k)
Traditional IRA
Roth IRA
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Jenny says a Roth IRA is best because you pay taxes now and avoid them in retirement. Jomaine says a Traditional IRA or 401(k) is better because you pay taxes later. How might both be right?
Roth IRA offers tax-free withdrawals in retirement, while Traditional IRA offers tax-deferred growth.
Roth IRA and Traditional IRA both offer tax-free withdrawals.
Roth IRA and 401(k) both require taxes to be paid upfront.
Traditional IRA offers tax-free withdrawals in retirement, while Roth IRA offers tax-deferred growth.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Your friend Sonia says pensions and 401(k)s are the best retirement options because they offer you “free money.” What does she mean by this?
Employers often match contributions to 401(k)s, which is like receiving free money.
Pensions and 401(k)s do not require any contributions from employees.
Pensions and 401(k)s are tax-free.
Pensions and 401(k)s guarantee high returns.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Raheem is unsure how Social Security will factor into his retirement planning. How can Social Security impact his savings strategy, and why is it important to consider alongside accounts like IRAs and 401(k)?
Social Security provides a guaranteed income, which can supplement savings from IRAs and 401(k)s.
Social Security replaces the need for IRAs and 401(k)s entirely.
Social Security is only available to those without IRAs and 401(k)s.
Social Security offers higher returns than IRAs and 401(k)s.
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