What are the different types of retirement plans?
There are several types of retirement plans, including 401(k)s, IRAs, and pensions. Would you like to know more about a specific type?
Can you explain how a 401(k) works?
A 401(k) is an employer-sponsored retirement plan that allows employees to save a portion of their paycheck before taxes. Employers may also match contributions.
What are the benefits of an IRA?
An IRA, or Individual Retirement Account, offers tax advantages for retirement savings. You can choose between a traditional IRA and a Roth IRA, each with different tax implications.
How much should I contribute to my retirement plan?
It's generally recommended to save at least 15% of your income for retirement, but this can vary based on your financial goals and retirement age.
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