{"id":4641,"date":"2023-06-16T02:14:35","date_gmt":"2023-06-16T02:14:35","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/?post_type=chapter&#038;p=4641"},"modified":"2025-08-28T03:27:05","modified_gmt":"2025-08-28T03:27:05","slug":"retirement-planning-apply-it-1","status":"web-only","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/chapter\/retirement-planning-apply-it-1\/","title":{"raw":"Retirement Planning: Apply It 1","rendered":"Retirement Planning: Apply It 1"},"content":{"raw":"<section class=\"textbox learningGoals\">\r\n<ul>\r\n\t<li>Understand the fundamentals of Social Security benefits, including the eligibility criteria, benefit amounts, and strategies for claiming<\/li>\r\n\t<li>Assess the retirement benefits provided by their employer, such as 401(k) plans, pension plans, and other retirement savings options<\/li>\r\n\t<li>Differentiate between basic forms of investments, such as stocks, bonds, mutual funds, and real estate<\/li>\r\n<\/ul>\r\n<\/section>\r\n<h2>Road to Retirement: Navigating the World of Retirement Planning with Talia<\/h2>\r\n<p>In this activity, we are going to dive into the complex world of retirement planning through the eyes of Talia, a mid-career professional. Your task is to guide Talia in her retirement savings plan, exploring diverse investment strategies and understanding how these could impact her future financial stability.<\/p>\r\n<center>\r\n[caption id=\"attachment_4888\" align=\"aligncenter\" width=\"500\"]<img class=\"wp-image-4888\" src=\"https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/18\/2023\/06\/22185222\/Untitled-design-6-300x197.png\" alt=\"Coin stacks with growing plants and figures of an aging couple\" width=\"500\" height=\"329\" \/> Figure 1. Help Talia with her retirement savings and investment plans[\/caption]\r\n<\/center>\r\n<p>&nbsp;<\/p>\r\n<p>Talia has decided it is time to take her retirement planning seriously. To start off, she sits down to consider the different ways she can invest for retirement.<\/p>\r\n<section class=\"textbox tryIt\">[ohm2_question hide_question_numbers=1]9660[\/ohm2_question]<\/section>\r\n<p>Now that we've established what does and does not count as a retirement investment, let's consider a common retirement plan, the 401(k). Talia's employer offers a 401(k) plan. Let's explore the characteristics of her 401(k) plan.<\/p>\r\n<section class=\"textbox tryIt\">[ohm2_question hide_question_numbers=1]9661[\/ohm2_question]<\/section>\r\n<p>Talia wants to make sure she takes full advantage of her companies 401(k) contribution matching program.<\/p>\r\n<section class=\"textbox tryIt\">[ohm2_question hide_question_numbers=1]9665[\/ohm2_question]<\/section>","rendered":"<section class=\"textbox learningGoals\">\n<ul>\n<li>Understand the fundamentals of Social Security benefits, including the eligibility criteria, benefit amounts, and strategies for claiming<\/li>\n<li>Assess the retirement benefits provided by their employer, such as 401(k) plans, pension plans, and other retirement savings options<\/li>\n<li>Differentiate between basic forms of investments, such as stocks, bonds, mutual funds, and real estate<\/li>\n<\/ul>\n<\/section>\n<h2>Road to Retirement: Navigating the World of Retirement Planning with Talia<\/h2>\n<p>In this activity, we are going to dive into the complex world of retirement planning through the eyes of Talia, a mid-career professional. Your task is to guide Talia in her retirement savings plan, exploring diverse investment strategies and understanding how these could impact her future financial stability.<\/p>\n<div style=\"text-align: center;\">\n<figure id=\"attachment_4888\" aria-describedby=\"caption-attachment-4888\" style=\"width: 500px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-4888\" src=\"https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/18\/2023\/06\/22185222\/Untitled-design-6-300x197.png\" alt=\"Coin stacks with growing plants and figures of an aging couple\" width=\"500\" height=\"329\" srcset=\"https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/18\/2023\/06\/22185222\/Untitled-design-6-300x197.png 300w, https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/18\/2023\/06\/22185222\/Untitled-design-6-1024x674.png 1024w, https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/18\/2023\/06\/22185222\/Untitled-design-6-768x506.png 768w, https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/18\/2023\/06\/22185222\/Untitled-design-6-65x43.png 65w, https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/18\/2023\/06\/22185222\/Untitled-design-6-225x148.png 225w, https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/18\/2023\/06\/22185222\/Untitled-design-6-350x230.png 350w, https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/18\/2023\/06\/22185222\/Untitled-design-6.png 1103w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><figcaption id=\"caption-attachment-4888\" class=\"wp-caption-text\">Figure 1. Help Talia with her retirement savings and investment plans<\/figcaption><\/figure>\n<\/div>\n<p>&nbsp;<\/p>\n<p>Talia has decided it is time to take her retirement planning seriously. To start off, she sits down to consider the different ways she can invest for retirement.<\/p>\n<section class=\"textbox tryIt\"><iframe loading=\"lazy\" id=\"ohm9660\" class=\"resizable\" src=\"https:\/\/ohm.one.lumenlearning.com\/multiembedq.php?id=9660&theme=lumen&iframe_resize_id=ohm9660&source=tnh\" width=\"100%\" height=\"150\"><\/iframe><\/section>\n<p>Now that we&#8217;ve established what does and does not count as a retirement investment, let&#8217;s consider a common retirement plan, the 401(k). Talia&#8217;s employer offers a 401(k) plan. Let&#8217;s explore the characteristics of her 401(k) plan.<\/p>\n<section class=\"textbox tryIt\"><iframe loading=\"lazy\" id=\"ohm9661\" class=\"resizable\" src=\"https:\/\/ohm.one.lumenlearning.com\/multiembedq.php?id=9661&theme=lumen&iframe_resize_id=ohm9661&source=tnh\" width=\"100%\" height=\"150\"><\/iframe><\/section>\n<p>Talia wants to make sure she takes full advantage of her companies 401(k) contribution matching program.<\/p>\n<section class=\"textbox tryIt\"><iframe loading=\"lazy\" id=\"ohm9665\" class=\"resizable\" src=\"https:\/\/ohm.one.lumenlearning.com\/multiembedq.php?id=9665&theme=lumen&iframe_resize_id=ohm9665&source=tnh\" width=\"100%\" height=\"150\"><\/iframe><\/section>\n","protected":false},"author":23,"menu_order":31,"template":"","meta":{"_candela_citation":"[{\"type\":\"copyrighted_video\",\"description\":\"Image of coins and plants\",\"author\":\"RomoloTavani\",\"organization\":\"via Canva.com\",\"url\":\"\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"\"}]","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"part":4885,"module-header":"apply_it","content_attributions":[{"type":"copyrighted_video","description":"Image of coins and plants","author":"RomoloTavani","organization":"via Canva.com","url":"","project":"","license":"arr","license_terms":""}],"internal_book_links":[],"video_content":null,"cc_video_embed_content":{"cc_scripts":"","media_targets":[]},"try_it_collection":null,"_links":{"self":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapters\/4641"}],"collection":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/wp\/v2\/users\/23"}],"version-history":[{"count":11,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapters\/4641\/revisions"}],"predecessor-version":[{"id":15776,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapters\/4641\/revisions\/15776"}],"part":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/parts\/4885"}],"metadata":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapters\/4641\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/wp\/v2\/media?parent=4641"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapter-type?post=4641"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/wp\/v2\/contributor?post=4641"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/wp\/v2\/license?post=4641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}