Assume you have just started a new job, have a car loan, and have a student loan. you have just received a cash gift of $1,000 from a relative, which of the following is the best use of this money?
a.) deposit into a cd earning 2% interest
b.) invest for your retirement in an ira
c.) deposit into an unfunded emergency fund
d.) deposit into a 529 savings account for college

Retirement investment advisors, inc., has just offered you an annual interest rate of 4.4 percent until you retire in 40 years. you believe that interest rates will increase over the next year and you would be offered 5 percent per year one year from today. if you plan to deposit $13,000 into the account either this year or next year, how much more will you have when you retire if you wait one year to make your deposit?