Planning Beginner: Working and Living in Retirement

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1.
Which of the following statements are true?
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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.
Many people aim to supplement their retirement income with what percentage of their preretirement income?
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25%. This is because as a retiree, they have Social Security and retirement savings income to rely on as well.
3.
Many people work during retirement _______.
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All the above. These are all reasons why many people continue working during their retirement years.
4.
Long time horizons generally enable us to assume _______ short-term ones.
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More risk than. Time reduces risk.
5.
You should wait until you retire to plan your budget because you can't know now what your expenses will be.
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False. Waiting until you retire to plan your budget is a huge mistake, particularly since you will need money saved to afford retirement.
6.
Starting a business after one retires can be an ideal choice for many retirees. Why?
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All of the above. Experience, knowledge, and connections can all add up for older people wanting to strike out on their own.