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Financial Planning Courses: Retirement

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1.
Inflation risk, which is the risk that rising prices will erode your money's purchasing power, is a challenge for retired people because _______.
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They usually live on a fixed income. Fixed incomes don't change, so when prices rise, that affects the purchasing power of retired people's money.
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.
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.
4.
Social Security benefits are based on financial need.
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False. Anyone who pays Social Security taxes can collect Social Security benefits if they have enough credits.
5.
If you determine that your retirement resources will not meet your anticipated needs, what is the "least" effective remedy for the problem?
Choose wisely. There is only one correct answer.
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.