Urgent: coming soon the end of your work life
Retirement accounts There are several types of retirement accounts: Pensions, Traditional individual retirement accounts, Roth individual retirement accounts, 401k accounts, Self-employment accounts or simple accounts or simplified employee pension, 457b accounts. Pension: Used mainly by government agencies but in the past more private companies were offering them. The fund is paid into by the company and the employee. Employees have a certain amount that they pay and depending on how long they work will be paid a certain amount after they retire. The company is responsible for paying and has to manage the fund. They can be dependent on earnings the fund has or guaranteed by the company. You will be taxed when receiving the money in retirement. These are more costly to maintain and why most companies don’t have them. You will probably have the choice of lump sum or payments. You don’t necessarily have to be at retirement…