Choose wisely. There is only one correct answer to each question.
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1.
Which of the following statements are true?
Many people will be better off using retirement employment income and/or tax-deferred savings to live on, while delaying their Social Security benefits until age 70. The other statements are false.
2.
Most people who work in retirement do so for the money.
True. While there are other reasons to retire, most do so for the income.
3.
Why would a 60-year-old feel more urgency about planning for retirement than a 20-year-old would?
A 60-year-old has less time to build up a nest egg. This is what creates the sense of urgency.
4.
Withdrawing a certain percentage of money from your portfolio during retirement _______.
Is subject to various risks. The volatility of the markets, inflation, and how your portfolio is structured can all add risks that could endanger your ability to make fixed withdrawals.
5.
Starting a business after one retires can be an ideal choice for many retirees. Why?
All of the above. Experience, knowledge, and connections can all add up for older people wanting to strike out on their own.
6.
Many people aim to supplement their retirement income with what percentage of their preretirement income?
25%. This is because as a retiree, they have Social Security and retirement savings income to rely on as well.