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Mathematics, 26.10.2019 08:43 angelashaw449
Directions: 1. assume each person is following dave’s advice of investing 15% of his or her annual household income.
2. follow the sequence of contributions recommended in the lesson. always take advantage of a match and fund 401(k). a. above the match, fund roth iras. b. if there is no match, start with roth iras.
3. complete 15% of income by going back to your 401(k) or other company plans.
4. carefully review each investor's information prior to completing the chart. 5. you will need a calculator to complete this activity.
investors:
joe will take advantage of the company match (5% of salary) then put the rest in a roth ira.
melissa will fund the 401(k) up to the match and put the remainder in her roth.
tyler and megan can each fund a roth then put the remainder in the 401(k). with no match, fund the roth first (based on 2013 contribution of $5,500 per individual).
adrian is not eligible to open a roth ira because he makes too much money. he will put his entire 15% into his 401(k).
david and britney are still within the guidelines for ira contributions for a married couple (based on 2013 contribution of $5,500 per individual). after maxing out the ira, they will fund the 401(k).
brandon will fund his 401(k) up to the match, and then put the remainder in his roth ira.
chelsea will fund her roth ira.
first one is an example.
investment | annual salary | company match | 401(k) | roth ira | total investment
joe $40,000 1: 1 up to 5% $2,000 $4,000 $6,000
melissa $55,000 1: 2 up to 6%
tyler & megan $105,000 no match
adrian $111,000 1: 1: up to 3%
david & britney $150,000 no match
brandon $35,000 2: 1 up to 6%
chelsea $28,000 no match
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Directions: 1. assume each person is following dave’s advice of investing 15% of his or her annual...
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