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Financial Planning Courses: Retirement

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1.
Budgeting your money can be easier if you learn to see it as a kind of _______.
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Reward. Just changing the way you think about it can make it easier to do.
2.
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 _______.
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Long-term care insurance. Long-term care insurance is a special form of insurance that covers the costs of care over many years.
3.
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.
4.
Retirees will always need less money to live on than working people.
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False. Health problems and lifestyle changes may increase a person's income needs in retirement.
5.
Social Security benefits are based on _______.
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Average lifetime earnings. Social Security benefits are based on average lifetime earnings and the amount of time you've worked.