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The main differences between a 401K and a Roth IRA are tax treatment, investment options and possible employer contributions. 401K plans and Roth IRAs are both popular tax- advantaged retirement saving vehicles. The two should be considered before determining which one to use. It is possible to contribute to both plans, but not with the same dollars.…
One of the main differences between a 401K and an Roth IRA is that a 401k is offered by your employer, while the Roth IRA is something an individual seeks and funds on their own. With a 401K your employer contributes or matches what you are putting into your 401K.…
Retrieve the SEC's complaint against ClearOne Communications (link provided on Blackboard with the case). Describe management's alleged scheme for inflating revenue.…
This is the explanation of the role of this ratio and why it is important…
Assume that monthly income will not be sufficient. In at least 100 words, what steps can you take now and/or in retirement to live comfortably in retirement? The steps I can take is making sure to finish school and countie to work on a higher education to fulfill my retirement plan and paying my house before 62 years of age. I should not have any car loans by then and I belive this will help me out so much. I think by the age 48, would be the last time I could buy a new car/truck and start keeping my credits in a very low balance with the help of my wife, we should be able to have the things we want paid off by 62 of age and start…
If you do not agree to the ifs using any part of this submission as an exemplar, please enter an N in the following box…
Fried Green Tomatoes is the story of the town of Whistle Stop, Alabama. Most of the story centers on Ruth Jamison and Idgie Threadgoode, a pair of women who changed the lives of everyone in their town. The story is told both in the present, 1920s-40s, when the events occurred, and in the past, while Ninny Threadgoode relives those events by retelling them to her friend, Evelyn Crouch, in the 1980’s.…
A 401(k) plan is a retirement account to which employee and employers contribute, on which taxes are deferred until withdrawal, and for which the employee selects the types of investments. As with anything to do with the Internal Revenue Service, the 401(k) plan has many ups and downs and many regulations that must be followed. This makes things more difficult for both the employer and employee in making decisions about the plan. We have taken a look at the advantages and disadvantages of the plan from both sides of the table to show what all is involved in deciding to use a 401(k) plan.…
Franklin Roosevelt founded National Foundation for Infantile Paralysis in 1938 to defeat polio, which the name was later change to March of Dimes. The organizations constructed a polio program to research and develop vaccines for polio, in addition once it obtain a vaccination for polio the focus change to preventing premature birth defects (March of Dimes, 2017). March of Dimes is accessible in all 50 states, that consist of Chapter staff and volunteers that partner with hospital and local health agencies to promote educational material and service to prevent premature births. It has also partner with other countries to create global programs to prevent prematurity and birth defects worldwide (Mission, 2017).…
The history of the 401(k) plan begins with an amendment to the Internal Revenue Code (IRC) by Congress which added section 401(k), after which the plan is named. The Revenue Act of 1978 added provisions to the Internal Revenue Code, which included allowing the use of "salary reductions" as a source of plan contributions (McDonnell, 1). Basically, this meant that employees could defer part of their salary into their account, also decreasing their taxable income. The law went into effect in January of 1980 and more regulations were issued in 1981. Shortly thereafter, many companies started the process of adopting 401(k) plans and, by the mid 1980s, nearly half of all large firms already had or were considering 401(k) plans (McDonnell, 1). One of the first companies to begin planning to adopt the 401 (k)…
Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally.…
The Canada Pension Plan is a contributory, earnings-related social insurance program. It ensures a measure of protection to a contributor and his or her family against the loss of income due to retirement, disability and death.…
A defined contribution plan is a type of retirement plan where the employer contributes a certain amount each period to the plan but does not have any requirements as to the amount that will be paid out at retirement time. The amount that would be paid to the employee is determined only by what the return is on that investment. The risk for these types of retirement plans is on the side of the employee. The employer expense is equal to the amount that is removed from the employee’s paychecks and placed in the retirement account…
The recruiting strategy that I would use for Friendly Financial Works would be utilizing Private Employment Agencies. There are several reasons that utilizing this strategy would be the most beneficial for this company. Friendly Financial has an extremely high turnover rate, so it is obvious that they spend a lot of time recruiting and hiring new employees. By allowing an agency to take the lead in this process, Friendly Financial can focus more on their business and on employee retention practices. Many successful companies use private employment agencies for this reason. Recruiting is the agencies core business and the thing they do best. And because it’s their core business, they can afford to invest the time, resources and intellectual property to continually improve both the process and results. This caliber of investment is rarely undertaken by an employer. Also, when measuring the time involved with in-house recruitment and the costs associated with each recruitment step, it is usually determined that outsourcing the recruitment process is in fact more efficient — both in terms of time and cost. Another great benefit of this strategy would be the fact that private employment agencies typically have access to a hidden candidate market. Most people that employers wish to attract to their organization are already employed, and the reality is that these people will generally not contact an organization direct if they are looking for a new role, particularly if the organization is a competitor of their current employer. But, employees may feel more comfortable with talking to a recruiter from a private agency when they are ready for their next career step. As a result, the recruiter has access to a larger pool of qualified candidates, including these ‘hidden candidates’, where an employer would not have this opportunity as an…
One year ago, the U.S. had the 10th best retirement-income system in the world. One year later, that hasn't changed, according to the third annual study of the pension systems of 16 countries by Mercer and the Australian Centre for Financial Studies.…