Multiple Select Questlon

Select all that apply

Select all the reasons most planners advise people to contribute as much as possible to a SEP$-$IRA or $401(k)$ plan.

Increased value accumulates on a tax$-$free basis until funds are withdrawn.

Contributions reduce adjusted gross income and therefore reduce taxes.

Withdrawals are tax$-$free upon retirement.

Early withdrawals are penalty$-$free if spent on living expenses.