Personal Finance 1st Edition by Jack R. Kapoor

Exercise 25

1 What are possible sources of income for retirees?

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2 What are examples of defined-contribution plans? How do they differ from defined-benefit plans?

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3 What are the two most popular personal retirement plans?

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4 What are annuities? What options are available in annuities? Which option is best?

Action Application Survey retired individuals or people close to retirement to obtain information on their main sources of retirement income.

Step 1 of 4

1.

Possible sources of income for many retirees are Social Security, other public pension plans, employer pension plans, personal retirement plans, and annuities.