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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

Plan to retire later

Invest in a tax-deferred savings plan

Make regular deposits to your savings account

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.

Which retirement plan is paid for by taxes on your earnings as opposed to you making contributions to it?

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Social Security

Individual retirement account

401k

All of the above

Social Security. Social Security is a national program that is paid for through special taxes on workers' earnings.

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.

Long time horizons generally enable us to assume _______ short-term ones.

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More risk than

Less risk than

The same risk as

More risk than. Time reduces risk.

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.

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