Homework: Plan for Retirement Savings

• Task: Research different retirement accounts (401(k), IRA, Roth IRA) and select the one you would choose based on your future career goals. Calculate how much you would need to save per month to reach a $1,000,000 retirement fund by age 65 using an online retirement calculator.

Real-Life Application: Starting early with retirement planning can maximize compound interest and ensure a stable financial future.