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Financial Planning Courses: Retirement

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1.
When calculating your future retirement income needs, you must consider inflation.
Choose wisely. There is only one correct answer.
True. After you have adjusted for inflation, you will have a true picture of the amount of income available for living purposes.
2.
Social Security benefits are based on a number of things. Which of the following is NOT one of them?
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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.
3.
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?
Choose wisely. There is only one correct answer.
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.
4.
If you work for a for-profit company, which retirement plan might it offer?
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401k. If a for-profit company offered a retirement plan, it would offer 401k plans, but not the others mentioned.
5.
Long time horizons generally enable us to assume _______ short-term ones.
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More risk than. Time reduces risk.