Your memorandum should thoroughly explain the tax benefits of your retirement plans and any assumptions that you
Question:
a. What is an IRA? What are the two types of IRAs? Also, fully explain the second type of retirement plan you selected.
b. The maximum annual investment amount for your plans.
c. Your age upon initial investment
d. Your projected retirement age
e. Your projected salary or income in you will be self-employed (you must use realistic amounts nothing greater than $70,000)
f. Information on the firm(s) you selected and why you selected them over others
g. Information on the investment accounts/vehicles you selected and why you selected them over others.
h. Tax implications of your plan.
i. Briefly explain what options are available to your Keogh, 401 (k) or 457 plans if you change jobs/careers, etc.
j. Total retirement income available upon your retirement.