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1.
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.
2.
When you start saving for retirement early, you can ride out the various risks in the market better than you could if you started late.
True. A long time horizon ultimately smooths out the effects of risk.
3.
Social Security benefits can be taken as early as age 62 only if one stops working entirely.
False. It is not necessary to stop working in order to take early benefits.
4.
Many people work during retirement _______.
All the above. These are all reasons why many people continue working during their retirement years.
5.
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.
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.