Kim is a sales representative for a medical software company. She’s planning to start saving for her son’s college education and her own

Question

Kim is a sales representative for a medical software company. She’s planning to start saving for her son’s college education and her own
retirement. Kim could start contributing to her employer-sponsored _________
for retirement and __________
for her son’s college education.

Blank A)
A) IRA
B) 401(k)
C) 529 plan

Blank B)
A) IRA
B) 401(k)
C) 529 plan

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Amelia 3 weeks 2021-09-23T20:31:29+00:00 1 Answer 0

Answers ( )

    0
    2021-09-23T20:32:43+00:00

    Answer:

    Blank A-Option B is correct , 401(k)

    Blank B-Option C is correct,529 plan

    Step-by-step explanation:

    401(k) is an employer sponsored retirement benefits plan where the employer and employee contribute a percent of the employee’s benefits or gross income every payday in order that the funds can be used to to generate further wealth by a way of investment for the benefit of the employees upon retirement.

    529 plan on the other hand,is a college savings plan wherein parent,guardian or even the beneficiary(the would college student) saves money at interval with hope of funding the costs of college education

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