Types of Retirement Accounts

2021.04.14 11:40 am - 12:21 pm

Teaching point: What are the different types of retirement accounts and their characteristics?

Do Now

How Much Would I Need To Save Monthly To Have $1 Million When I Retire?

2021.04.05 Do Now

Agenda

Do Now (5 - 10 minutes)

College Students Talk Retirement (5 - 10 minutes)

Compare Types of Retirement Accounts (20 - 25 minutes)

Closure (5 minutes)

College Students Talk Retirement

In this video, Vanguard asks college students about their retirement goals. When asked when they’ll start saving for retirement, the students all give different responses. Choose one student you agree with. What was his/her advice, and why do you think he or she is correct? When the video is over, type in the chat.

Compare Types of Retirement Accounts

The previous article mentioned that retirement accounts are one of the brokerage accounts you can open to invest. In this activity, you’ll take a closer look at 4 of the most common types of retirement accounts. Pensions, 401(k)s, and Traditional and Roth IRAs.


After you’ve set your retirement goal, the second step in planning for retirement is to open a retirement account, of which there are a few types. As with any financial decision, before you sign up, you’d want to read the specific fine print for your account.


Follow the directions on the worksheet to complete the activity.