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Activity: Funding 401(k)s and Roth IRAsObjective: The purpose of this activity is to learn tocalculate 15% of an income to save for retirement and to understandhow to fund retirement investments.Directions: Complete the investment chart based on the factsgiven for each situation. Assume each person is following Dave’sadvice of investing 15% of their annual household income. Rememberto follow the sequence of contributions recommended in thelesson.InvestmentsAnnual SalaryCompany Match401(k)Roth IRATotal Annual InvestmentJoe$40,0001:1 up to 5%Melissa$55,0001:2 up to 6%Tyler & Megan$105,000No MatchAdrian$111,0001:1 up to 3%David & Britney$150,000No MatchBrandon$35,0002:1 up to 6%Chelsea$28,000No MatchJoe will take advantage of the company match (5% of salary)then put the rest in a Roth IRAMelissa will fund the 401(k) up to the match and put theremainder in her Roth.Tyler & Megan can each fund a Roth, then put the remainderin the 401(k). With no match, fund the Roth first (based on 2011contribution of $5,000 per individual).Adrian is not eligible to open a Roth IRA because he makes toomuch money. He will put his entire 15% into his 401(k).David & Britney are still within the guidelines for amarried couple (based on 2011 contributions of $5,000 perindividual). After maxing out the IRA, they will fund the401(k).Brandon will fund his 401(k) up to the match, then put theremainder in his Roth.Chelsea will fund her Roth IRA.