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Financial Planning Courses: Retirement

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1.
When prices of goods and services rise over time and eat into your money's purchasing power, that is called _______ risk.
Choose wisely. There is only one correct answer.
Inflation. Inflation risk is the risk that rising prices will make it harder to buy the things you need.
2.
Social Security benefits are based on _______.
Choose wisely. There is only one correct answer.
Average lifetime earnings. Social Security benefits are based on average lifetime earnings and the amount of time you've worked.
3.
Which retirement plan is paid for by taxes on your earnings as opposed to you making contributions to it?
Choose wisely. There is only one correct answer.
Social Security. Social Security is a national program that is paid for through special taxes on workers' earnings.
4.
If you determine that your retirement resources will not meet your anticipated needs, what is the "least" effective remedy for the problem?
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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.
5.
Why should you start thinking about your retirement years while you are still young?
Choose wisely. There is only one correct answer.
All of the above. All of these are reasons why you should get an early start on planning for your retirement.