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Which of the following is a mistake often associated with new-employee orientation:
Roth IRA
Deposits are taxable, but when the money is withdrawn after having been there for at least 5 years and the saver is at least 59 1/2 years old, the money and the income earned is tax-exempt, or free from all taxes.
Tax-Deferred
Taxes are paid at the time the money is withdrawn from the account, not when the money is actually earned.
Social Security Benefits
Payments made to eligible individuals (retirees, disabled workers, and their families) from the Social Security program, funded by Social Security taxes.
Need-Based
A criteria or qualification that is determined by the applicant's financial need or income level, often used for financial aid or grants.
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