Course Catalog > Financial Planning > Courses
Financial Planning Courses: Retirement

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
Why would a 60-year-old feel more urgency about planning for retirement than a 20-year-old would?
Choose wisely. There is only one correct answer.
A 60-year-old has less time to build up a nest egg. This is what creates the sense of urgency.
2.
If you are over 65 and you qualify for Social Security, you also qualify for _______.
Choose wisely. There is only one correct answer.
Medicare. Medicare is a health insurance program for those over 65.
3.
All of us face the risk that we will not be able to live independently when we are older. There are many ways to handle the costs of this risk. A particular type of insurance that can help pay for these costs is called _______.
Choose wisely. There is only one correct answer.
Long-term care insurance. Long-term care insurance is a special form of insurance that covers the costs of care over many years.
4.
When determining your resources for retirement, what should you start with?
Choose wisely. There is only one correct answer.
Determine how much income you will get from your current sources of income. The other courses of action should start after this.
5.
Many retirement plans are tax-deferred. What does tax-deferred mean?
Choose wisely. There is only one correct answer.
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.