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Financial Planning Courses: Retirement

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1.
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.
2.
Social Security benefits are based on _______.
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Average lifetime earnings. Social Security benefits are based on average lifetime earnings and the amount of time you've worked.
3.
Long time horizons generally enable us to assume _______ short-term ones.
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More risk than. Time reduces risk.
4.
It is possible to have your employer add its own money to a retirement account.
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True. If you have a 401k plan, your employer might make contributions to it on your behalf. This is one reason 401k plans are so popular.
5.
If you live longer than expected, you may face a number of different risks associated with your elder years. Which risk refers specifically to living longer than expected?
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Longevity risk. Longevity risk is the risk that you will live longer than is expected. It can lead to a lot of challenges if it is not planned for.