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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.

If you live longer than expected, you may face a number of different risks associated with your elder years. Which risk refers specifically to living longer than expected?

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Inflation risk

Longevity risk

Healthcare costs risk

Long-term care risk

Longevity risk. Longevity risk is the risk that you will live longer than is expected. It can lead to a lot of challenges if it is not planned for.

Social Security benefits are based on the best 10 years of your lifetime earnings.

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True

False

False. Social Security retirement benefits are based upon your lifetime earnings recorded with the Social Security Administration.

Retirees will always need less money to live on than working people.

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True

False

False. Health problems and lifestyle changes may increase a person's income needs in retirement.

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.

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