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Financial Planning Courses: Retirement

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1.
If you are over 65 and you qualify for Social Security, you also qualify for _______.
Choose wisely. There is only one correct answer.
Medicare. Medicare is a health insurance program for those over 65.
2.
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.
3.
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.
4.
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.
5.
Investment risk is _______.
Choose wisely. There is only one correct answer.
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.