Investment Retirement Account
Cidette Rice Dr. Ott Investing A-Term 3/31/2021 Retirement Options Within the realms of retirement, there are many different opprotunities and styles when it comes to saving money. The general idea is that when it comes to retirement, your two options are to use an individual retirement account (IRA) or a 401k. While these are both good ideas, it should be noted that not only can you have BOTH an IRA and a 401k, but that there's many varities of each. On average, the stock market's return rate is 10% each year, meaning that if you invest $10 at the start of 20xx, you'll have $10.10 by the following year. This is exactly how an IRA works, with some rules and exceptions. Anything with "IRA" in the name follows the same rules, unless stated otherwise. IRA (Investment Retirement Account) Long term investment (think 20-50+ years) Low risk, you deposit your money and let it sit and collect until you retire 7-10% return rate Max $6,000 deposit every year, $7,000 aft