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What do 401(k) plans and IRAs have in common?

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What do 401(k) plans and IRAs have in common?

asked Oct 7, 2018 36.9k views

1 vote

What do 401(k) plans and IRAs have in common?

Business
high-school

Liupeixin asked

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2 Answers

7 votes

Answer:

top person is correct

Step-by-step explanation:

OrElse answered Oct 9, 2018

by OrElse

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1. They both grow tax deferred

2. Most contributions are pre-tax

3. You must leave the money in until age 59.5 or you will pay a penalty for taking it out under age

Sam Oliver answered Oct 14, 2018

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