Financial Planning Courses: Retirement

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1.
Which retirement plan is paid for by taxes on your earnings as opposed to you making contributions to it?
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Social Security. Social Security is a national program that is paid for through special taxes on workers' earnings.
2.
Over a long period, inflation reduces what a person with a fixed income can afford to buy.
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True. Financial planners suggest that you begin saving for retirement as early as possible to offset the effects of inflation.
3.
Why should you start thinking about your retirement years while you are still young?
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All of the above. All of these are reasons why you should get an early start on planning for your retirement.
4.
A financial planning professional can help you manage your money in retirement.
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True. Find one who shares your concern with longevity risk.
5.
Social Security benefits are based on a number of things. Which of the following is NOT one of them?
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Your financial need. Financial need does not determine the benefits you get from Social Security. Your earnings and amount of time worked determine your benefits.