A retirement account for the self-employed is called a
A) 401(k) plan
B) Keogh account (HR10 account)
C) 10-K report
D) tax-deferred annuity

Question

Quizplus · Accepted Answer

A Keogh account (also known as an HR10 account) is a retirement plan designed for self-employed individuals or small business owners. It allows for tax-deferred contributions and offers the potential for significant retirement savings. A 401(k) plan is designed for employees of a company and may not be available to self-employed individuals. A 10-K report is a type of annual financial report filed by publicly traded companies with the Securities and Exchange Commission (SEC). A tax-deferred annuity is a type of investment product that can be used for retirement savings, but it is not specific to the self-employed.

A Retirement Account for the Self-Employed Is Called a