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Financial Planning Courses: Retirement

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1.
A financial planning professional can help you manage your money in retirement.
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True. Find one who shares your concern with longevity risk.
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.
Many retirement plans are tax-deferred. What does tax-deferred mean?
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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 a number of things. Which of the following is NOT one of them?
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Your financial need. Financial need does not determine the benefits you get from Social Security. Your earnings and amount of time worked determine your benefits.
5.
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.