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Financial Planning Courses: Retirement

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1.
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.
2.
When determining your resources for retirement, what should you start with?
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Determine how much income you will get from your current sources of income. The other courses of action should start after this.
3.
Which type of retirement account would you set up and manage on your own?
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Individual retirement account. IRAs are accounts for individuals and are typically not related to one's job.
4.
Who has the best chance of getting the most from growth and compounding of one's money?
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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.
Social Security benefits are based on the best 10 years of your lifetime earnings.
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False. Social Security retirement benefits are based upon your lifetime earnings recorded with the Social Security Administration.