In Saving for Retirement, Penny Could Take Advantage of the Unique

question 48

Multiple Choice

In saving for retirement, Penny could take advantage of the unique tax shelter offered only to small-business owners in a

• A) 401(k) plan.
• B) simple IRA plan.
• C) Roth plan.
• D) Keogh plan.

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Definitions:

American Mind

A concept referring to the collective mindset, attitudes, or cultural ethos predominant among the people of the United States.

Evangelical

A movement within Protestant Christianity emphasizing the importance of the conversion experience, the authority of the Bible, and spreading the Christian faith.

Transcendentalism

A philosophical and literary movement in the 19th century U.S. that advocated for personal intuition, self-reliance, and a closer relationship to nature.

Thoreau

Henry David Thoreau, a 19th-century American essayist, poet, and philosopher known for his writings on naturalism and civil disobedience.