Describe the difference between a 401(k) plan and an Individual Retirement Account.
Describe the typical costs of a retiree.
Typical costs for a retiree include housing, food, utilities, transportation, health insurance, medicines, and other medical care. Retirees also need money for personal expenses, insurance, taxes, and emergencies, even if some work-related costs go down.
Quality of life can include mental, as well as physical, activity level.
Medicare benefits are restricted to those who _________.
Describe the difference between a 401(k) plan and an Individual Retirement Account.
A 401(k) plan is a retirement savings plan offered through an employer, and employees often contribute part of their paycheck, sometimes with employer matching. An Individual Retirement Account, or IRA, is opened by an individual on their own through a financial institution rather than through an employer.
When buying a home, it is important to factor in future costs, like ___________.
Suburban communities are generally more populous and densely built than urban areas.
Describe the typical costs of a retiree.
Medicare benefits are primarily useful for housing projects.
When buying a home, it is important to factor in future costs, like ___________.
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