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Financial Planning Courses: Retirement

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1.
All of us face the risk that we will not be able to live independently when we are older. There are many ways to handle the costs of this risk. A particular type of insurance that can help pay for these costs is called _______.
Choose wisely. There is only one correct answer.
Long-term care insurance. Long-term care insurance is a special form of insurance that covers the costs of care over many years.
2.
Many retirement plans are tax-deferred. What does tax-deferred mean?
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The earnings that build up in them are not taxed until you start making withdrawals. This enables your retirement plan to grow more every year.
3.
If you are over 65 and you qualify for Social Security, you also qualify for _______.
Choose wisely. There is only one correct answer.
Medicare. Medicare is a health insurance program for those over 65.
4.
Who has the best chance of getting the most from growth and compounding of one's money?
Choose wisely. There is only one correct answer.
A 20-year-old. As a rule, the younger you are when you start saving for your retirement, the more you will gain from the growth and compounding of your money.
5.
If you determine that your retirement resources will not meet your anticipated needs, what is the "least" effective remedy for the problem?
Choose wisely. There is only one correct answer.
Plan to retire earlier. The earlier you retire, the greater the strain on your resources. Either plan to retire later or start building your income resources.