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It is possible to have your employer add its own money to a retirement account.

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True

False

True. If you have a 401k plan, your employer might make contributions to it on your behalf. This is one reason 401k plans are so popular.

Social Security benefits are based on a number of things. Which of the following is NOT one of them?

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Your financial need

Your average lifetime earnings

The amount of time you've worked

Your financial need. Financial need does not determine the benefits you get from Social Security. Your earnings and amount of time worked determine your benefits.

A financial planning professional can help you manage your money in retirement.

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True

False

True. Find one who shares your concern with longevity risk.

Why should you start thinking about your retirement years while you are still young?

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Your health might be poor in your elder years.

You will need enough money to last for the rest of your life.

They could be a large portion of your life.

All of the above

All of the above. All of these are reasons why you should get an early start on planning for your retirement.

When calculating your future retirement income needs, you must consider inflation.

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True

False

True. After you have adjusted for inflation, you will have a true picture of the amount of income available for living purposes.

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