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Financial Planning Courses: Retirement

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1.
Social Security benefits are based on the best 10 years of your lifetime earnings.
Choose wisely. There is only one correct answer.
False. Social Security retirement benefits are based upon your lifetime earnings recorded with the Social Security Administration.
2.
If you work for a for-profit company, which retirement plan might it offer?
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401k. If a for-profit company offered a retirement plan, it would offer 401k plans, but not the others mentioned.
3.
If you determine that your retirement resources will not meet your anticipated needs, what is the "least" effective remedy for the problem?
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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.
4.
Investment risk is _______.
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The risk that your investments will not perform as well as expected. The other two choices are pitfalls to avoid, but they do not define investment risk.
5.
Why would a 60-year-old feel more urgency about planning for retirement than a 20-year-old would?
Choose wisely. There is only one correct answer.
A 60-year-old has less time to build up a nest egg. This is what creates the sense of urgency.