Lesson 9: How to Invest for Retirement
Duration of Days: 1
Lesson Objective
Understand what a 401(k) plan is and its advantages
Explain the options available to them if an employer does not offer a 401(k) plan
Conduct research to compare different types of retirement accounts, including Roth IRAs, traditional IRAs, 401(k)s, and pensions
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Earning Income
1d: Examine the benefits of participating in employer sponsored retirement savings plans and healthcare savings plans
10c: Explain the importance of participating in employer sponsored retirement plans, when available, and contributing enough to qualify for the maximum employer match
Saving
6a: Explain how traditional IRAs (individual retirement accounts), Roth IRAs, and education savings accounts provide incentives for people to save
6b: Compare the tax advantages of traditional and Roth IRAs
7a: Explain how an employer match of employee contributions to its retirement plan provides an incentive for employees to save
7c: Describe the pros and cons of saving through an employer retirement plan as compared to saving outside of an employer plan
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NGPF Curriculum Crosswalk_Connecticut Standards for Personal Financial Management and Financial Literacy
https://docs.google.com/document/d/1mLCswzLA8iEiXA1QXO1TviXvxw51TYgsl8vsQh5m1EI/edit?tab=t.0