Why Are 401(k) Retirement Plans Often Better Than Saving Money

question 13

Multiple Choice

Why are 401(k) retirement plans often better than saving money in a bank account?

• A) You don't pay taxes on the money you contribute or interest you earn until you draw the money out after age 59 1/2
• B) Employers have to match the amount you contribute each year.
• C) The money you put into the plan earns more interest than what banks pay.
• D) All of the above.

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Definitions:

Application Letter Closing

The final section of an application letter where the applicant thanks the recipient for considering their application and may include a call to action or a statement expressing hope for further communication.

Interview Request

A solicitation, often formal, asking for a meeting or conversation for the purpose of obtaining information, an evaluation, or a job.

Job Opportunities

Various positions of employment available to job seekers, offering a chance for career advancement or change.

Prospecting Job Application Letter

A written document sent to potential employers expressing interest in a position and highlighting qualifications, often when no job has been advertised.