Kathy Is 48 Years of Age and Self-Employed

question 40

Multiple Choice

Kathy is 48 years of age and self-employed. During 2020 she reported $534,000 of revenues and $106,800 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k) ?

• A)$57,000.
• B)$63,500.
• C)$83,088.
• D)$19,500.

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Definitions:

Emotional Eating

The practice of consuming food in response to feelings rather than hunger, often leading to overeating.

Destructive Thought

Negative, harmful thoughts that can impair emotional well-being and influence behavior negatively.

Behavior Change

Alterations in an individual's behavior patterns, attitudes, or actions, typically aimed at achieving better health outcomes or lifestyle adjustments.

Encouragement

The action of giving someone support, confidence, or hope to motivate or inspire.