Select the correct answer.

Which would be the best retirement savings option for a 40-year old engineer whose employer offers a five percent contribution match?
A.
401(k)
B.
IRA
C.
basic savings account
D.
money market account

1 answer

The best retirement savings option for a 40-year-old engineer whose employer offers a five percent contribution match would be:

A. 401(k)

A 401(k) plan allows for higher contribution limits and the employer match provides an additional benefit that can significantly enhance retirement savings.