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Financial Planning Courses: Retirement

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1.
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.
2.
Budgeting your money can be easier if you learn to see it as a kind of _______.
Choose wisely. There is only one correct answer.
Reward. Just changing the way you think about it can make it easier to do.
3.
When determining your resources for retirement, what should you start with?
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Determine how much income you will get from your current sources of income. The other courses of action should start after this.
4.
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.
5.
Social Security benefits are based on the best 10 years of your lifetime earnings.
Choose wisely. There is only one correct answer.
False. Social Security retirement benefits are based upon your lifetime earnings recorded with the Social Security Administration.