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Financial Planning Courses: Retirement

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1.
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.
2.
Investment risk is _______.
Choose wisely. There is only one correct answer.
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.
3.
If you determine that your retirement resources will not meet your anticipated needs, what is the "least" effective remedy for the problem?
Choose wisely. There is only one correct answer.
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.
4.
Social Security benefits are based on a number of things. Which of the following is NOT one of them?
Choose wisely. There is only one correct answer.
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.
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.