Course Catalog > Financial Planning > Courses
Financial Planning Courses: Retirement

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
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.
2.
Why should you start thinking about your retirement years while you are still young?
Choose wisely. There is only one correct answer.
All of the above. All of these are reasons why you should get an early start on planning for your retirement.
3.
Social Security benefits are based on financial need.
Choose wisely. There is only one correct answer.
False. Anyone who pays Social Security taxes can collect Social Security benefits if they have enough credits.
4.
Which type of retirement account would you set up and manage on your own?
Choose wisely. There is only one correct answer.
Individual retirement account. IRAs are accounts for individuals and are typically not related to one's job.
5.
Inflation risk, which is the risk that rising prices will erode your money's purchasing power, is a challenge for retired people because _______.
Choose wisely. There is only one correct answer.
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.