No, an IRA is not the same as a 401K. The most common forms of IRAs (Traditional and Roth) are usually open with banks, credit unions, or brokerages while 401(k)s are employer-sponsored retirement plans. Traditional and Roth IRAs are individual retirement accounts that a person opens and...
we will dive deep into the world of asset allocation funds, discussing their definition, investments, types, and providing examples. By the end of this article, you’ll have a comprehensive understanding of asset allocation funds and how they can fit into your investment portfolio. ...
These assets are completely protected from your creditors, however, they are accessible by your employer's creditors. While I think most doctors still ought to use these plans due to the tax benefits, some choose not to as they are concerned their employer may go out of business! Estate Plan...
To truly understand how coinsurance is applied in health insurance plans, let’s take a look at an example. Let’s say you’ve already hit your deductible, and your coinsurance is 20%. If you availed of a healthcare service covered by your insurance and got billed $800, the amount you...
Another investment opportunity is a tax-deferred account, such as a 401K or Roth IRA. Employees can participate in these savings plans by investing pre-tax money into the account. Any money deposited into the account is not reported to the IRS because taxes are not due until the account hold...
There are four types of health insurance plans available through ObamaCare's marketplace they are Bronze, Silver, Gold, and Platinum health insurance plans.
So if you’re thinking of building effective benefit plans or looking to boost your existing policies, we got you covered – we present the basics of employee benefits, including types of employee benefits, common benefits per location and insight on what candidatesandemployees truly want: ...
Discuss the difference between 401k and Roth IRA. Explain whether each of the following is an example of moral hazard or adverse selection: (explain why) a) Someone whose parents lived to 100 is anxious to buy a life annuity. b) People who are elig ...
A Canadian retirement savings plan (RSP) and a registered retirement savings plan (RRSP) both refer to the same thing. Both acronyms can be used interchangeably. Some people use RSP for an individual RRSP (similar to anIRAin the U.S.) and RRSP for group or pooled plans. However, this d...
Automatic Investment Plans for Individuals Outside of employer-sponsored automatic investment plans, individuals also have a wide range of options to choose from in the investment market. Nearly every available investment account offering provides investors with the option to make automatic investments. ...