Universal 401(k) alternative Crossword Clue Puzzle Answer from August 08, 2024

401(k) alternative Universal Crossword Clue Answer

Let’s find the answers to 401(k) alternative Universal for the August 08, 2024 edition of Universal crossword puzzle. Answer Contains 3 letters. Start with I and end with A, and the possible solutions are ICA, IEA, IRA.

Answer to the Universal crossword clue 401(k) alternative featured in the Universal puzzle is IRA.

401(k) alternative Universal Crossword Clue Explanation

The IRA, or Individual Retirement Account, is a popular retirement savings vehicle designed to provide individuals with tax advantages as they save for retirement. Unlike a 401(k), which is typically offered through an employer, an IRA is set up and managed by the individual. It offers several benefits that can make it a viable alternative for many savers.

Understanding the Clue

401(k) Alternative: A 401(k) is a retirement savings plan offered by employers, allowing employees to contribute pre-tax income. An alternative to this plan would be another retirement account that individuals can use to save for retirement.

IRA: The IRA is a personal retirement account that individuals can open on their own. It allows for tax-deferred growth of investments and, in some cases, tax-deductible contributions. There are different types of IRAs, such as Traditional IRAs and Roth IRAs, each with its own set of rules and tax implications.