Choose wisely. There is only one correct answer to each question.
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1.
You can receive Social Security benefits before you reach your full retirement age.
True. You can, although they will be diminished.
2.
When the Social Security Administration sends you your personal Social Security Statement, your estimated benefits will be stated in _______.
Today's dollars. Your benefits will be stated in today's dollars, per month. However, Social Security benefits rise with inflation; therefore, they will likely be higher when you finally retire.
3.
To find out whether your retirement portfolio is on track, _______.
Determine what your regular retirement income will be, excluding your income from your own savings. Since savings is much less predictable, you can instead focus on what your regular retirement income -- Social Security and your retirement plans -- will be.
4.
When planning for retirement, compare your expected pension and Social Security income with the amount of income you think you'll need. Then determine whether your current investments will cover the difference between the two figures.
True. This is a good place to start.
5.
What's a fair figure to use as an expected return for bonds?
5% per year. Intermediate-term bonds have returned 5% per year, on average, since 1926, according to Morningstar.