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Financial Planning Courses: Retirement

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1.
The government has done its part to help you save for retirement by _______.
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Allowing you to set up tax-deferred retirement accounts. Accounts such as 401(k) plans and individual retirement accounts (IRAs) grow tax-deferred.
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.
Social Security is a program that pays benefits for _______.
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Retirement. Social Security is a retirement program.
4.
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. Social Security is a national program that is paid for through special taxes on workers' earnings.
5.
Investment risk is _______.
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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.