Burt Reynolds has changed jobs- His last retirement plan's contributions depended on how well the company performed and he shared in the earnings- His present employer allows him ownership in the firm, although this is the riskiest plan- Burt's former plan was a(n) ________ and his current plan is a(n) ________.

Retirement planning refers to financial strategies of saving, investments, and ultimately distributing money meant to sustain oneself during retirement. Many popular investment vehicles, such as individual retirement accounts (IRAs) and 401(k)s, allow retirement savers to grow their money with certain tax advantages.