Can You Pass a Quick Retirement Quiz?
Ready for retirement? You may not be if you can’t ace this quick retirement quiz. See how much you know about retirement and what you need to do to take care of your own retirement needs.
- Because people are retiring earlier and living longer, the average retiree will spend about ____ percent of adult life in retirement.
- Comprehensive retirement planning is multi-dimensional. It requires making choices about housing, health care, income and being sensitive to ______ planning issues.
- Today we tend to have _____ expectations about our retirement lifestyle. We expect to lead active lives with a full array of medical services and benefits. That takes planning.
- Financial independence, both before and after retirement, isn’t just about earning the most or even saving the most. It requires a commitment to ________________________.
- Once you’re retired, periodic monitoring of your financial situation is: a) never needed; b) not always necessary; c) essential; or d) dependent on the stock market.
- In 2011 the Social Security system paid average monthly benefits of $ ________ to ___ million retired workers.
- Upon retirement, many people lack the ______________ skills to effectively monitor their assets for the “long haul.”
- Many factors affect people’s ability to save for retirement including frequent job changes, forced early retirements, demands for college education funds, care-giving of ________, second mortgages that reduce home equity, and stock market ______.
Answers: 1) 33%; 2) estate; 3) enhanced or high or a similar word; 4) live within your means; 5) c) essential; 6) $1,299 to 35,600,000 retired workers; 7) investment management; 8) your own or your spouse’s parents, and losses.
How did you do? Keep learning. Retirement takes good planning, clear thinking, and time.
Gene Offredi, CFP, RFC, Summit Investor Coach, Guilford, CT. Call 203.453.1017 or visit summitinvestorcoach.com.