Both Irene and her employer contribute every year to her employer-­‐sponsored 401(k) plan. Irene has worked at the company for twenty years, and is fully vested in her plan. Suppose Irene leaves her job or gets fired. Which of the following statements is true?

Personal finance is a process which involves learning, practicing and applying a variety of financial skills. It ranges from budgeting, managing, paying off debt, understanding credit and various investment products. It is essential to develop your financial literacy skills. It helps in improving your personal finance management.