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.
A financial planning professional can help you manage your money in retirement.
Choose wisely. There is only one correct answer.
True. Find one who shares your concern with longevity risk.
3.
Many retirement plans are tax-deferred. What does tax-deferred mean?
Choose wisely. There is only one correct answer.
The earnings that build up in them are not taxed until you start making withdrawals. This enables your retirement plan to grow more every year.
4.
Social Security benefits are based on the best 10 years of your lifetime earnings.
Choose wisely. There is only one correct answer.
False. Social Security retirement benefits are based upon your lifetime earnings recorded with the Social Security Administration.
5.
Who has the best chance of getting the most from growth and compounding of one's money?
Choose wisely. There is only one correct answer.
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.