I’m getting old!

*a simple intro to money market accounts, 401Ks, IRAs, and Roth IRAs*

Hiya! Here is a really quick reference/clarification on the accounts that you hear about every day to help you know whats up; so that you actually know what you’re nodding your head about in affirmation when your friend-who-works-in-finance-and-seems-to-speak-another-language-sometimes-starts talking about the “asset allocation” in her 401K. Asset allocation is a little ways off, so we’re gonna start with the basics. This is just a really quick intro to retirement accounts that will help you next time you’re with said friend and wanna look sexy and cool (your friend is looking hotter every day) and you want to impress him/her with your personal finance acumen.

401Ks:

MAIN SETUP/FUNCTION:

*PROS of 401KS*:

CONS:

Roth IRAs (individual retirement accounts):

*PROS of ROTH IRAS*:

CONS:

Traditional IRAs (individual retirement account):

FEATURES:

Money Market Accounts:

FEATURES:

ok. so thats retirement plans in a (very small) nutshell. now go out and wow ’em, tigah. 🙂

1 Response so far »

  1. 1

    Carly Rose said,

    I have to read this posting thoroughly when I have time. I’m ALWAYS just nodding my head when they talk about this stuff!!


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