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Test your knowledge

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Budgeting your money can be easier if you learn to see it as a kind of _______.

Choose wisely. There is only one correct answer.

Denial

Threat

Reward

Reward. Just changing the way you think about it can make it easier to do.

Social Security is a program that pays benefits for _______.

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Healthcare needs

Retirement

Food

Retirement. Social Security is a retirement program.

Retirees will always need less money to live on than working people.

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True

False

False. Health problems and lifestyle changes may increase a person's income needs in retirement.

Investment risk is _______.

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The risk that you have chosen the wrong investments

The risk of putting all your eggs in one basket

The risk that your investments will not perform as well as expected

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.

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.

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