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Retirement Beginner: The Language of Retirement Planning

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1.
Tax-sheltered annuities include 403(b) plans.
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True. 403(b) plans are commonly called tax-sheltered annuities.
2.
Liquidating shares in an investment can be part of a withdrawal plan.
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True. It may be specified beforehand as a way of periodically withdrawing money from the investment.
3.
Which of the following cannot be used to fund an individual retirement account?
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Collectibles. As a rule, collectibles cannot be used to fund IRAs.
4.
Premiums are used to figure out how much a variable annuity will pay its holder.
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False. Annuity units are used for this purpose.
5.
The Keogh plan is specially made for self-employed individuals.
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True. The Keogh is also for all non-incorporated businesses.
6.
How is FICA money obtained?
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From employee paychecks. It is deducted from income.