Strategy Beginner: Social Security, Medicare and Retirement

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1.
Social Security trust funds invest in _______.
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Government bonds. Trust money not used to pay benefits is invested in special US government bonds.
2.
Possible solutions for saving Social Security include _______.
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All of the above. All of these (and more) have been proposed as solutions.
3.
Social Security benefits are based on financial need.
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False. Anyone who pays Social Security taxes can collect Social Security benefits if they have enough credits.
4.
What types of healthcare coverage does Medicare provide in retirement?
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Hospitalization, prescription drug coverage and outpatient treatment. Medicare is a comprehensive health insurance plan for retirees, covering hospitalization, prescription drug coverage and outpatient treatment.
5.
You may receive full Social Security retirement benefits if you are eligible for early retirement.
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False. You are eligible for full retirement benefits only at normal retirement age.