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Financial Planning Courses: Retirement

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1.
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.
2.
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.
3.
Which type of retirement account would you set up and manage on your own?
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Individual retirement account. IRAs are accounts for individuals and are typically not related to one's job.
4.
If you are over 65 and you qualify for Social Security, you also qualify for _______.
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Medicare. Medicare is a health insurance program for those over 65.
5.
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.