FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 18: Starting Early: Retirement Planning

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 71

Multiple Choice

Review LaterAdd Note

Review Later

Which retirement plan is specifically designed for self-employed individuals and their employees?

A) Roth IRA
B) Traditional IRA
C) Defined-contribution plan
D) Keogh plan
E) Defined-benefit plan

Correct Answer

verified

Show Answer

Question 72

True/False

Review LaterAdd Note

Review Later

Social Security should be the only source of your retirement income.

Correct Answer

verified

Show Answer

Question 73

True/False

Review LaterAdd Note

Besides Social Security, the federal government administers several other retirement plans for federal government and railroad employees.

Social Security covers what percent of all U.S. workers?

Which type of housing is preferred by most persons who are approaching retirement?

Only saving now and curtailing current spending can ensure comfortable retirement later.

A defined-contribution plan has an individual account for each employee; therefore, these plans are also called individual account plans.

The shift to defined-contribution plans has forced employees to take more responsibility for their retirement.

Which federal law sets minimum standards for pension plans in private industry and protects more than 50 million workers?

People born after 1928 need at least 60 quarters of coverage to qualify for Social Security benefits.

If you work after 65, your Social Security benefits will neither increase nor decrease.

You can put your IRA funds in many kinds of investments, including stock, bonds, mutual funds, real estate, and U.S.-minted gold and silver coins.

When a lender uses your house as collateral to buy an annuity for you from a life insurance company, it is called:

What is most likely to be an individual's single biggest asset?

You can convert your traditional IRA to a Roth IRA.

Once you retire, the first step in stretching your retirement income is to make sure that you are:

One of the misconceptions about retirement is that your expenses will drop when you retire.

Your Social Security payments will start at age 65 whether you apply for benefits or not.

To boost demand for universal design homes, builders are marketing to families of all ages.

Which of the following is typically a characteristic of a defined benefit plan?