Personal Finance Study Set 15

Business

Quiz 18 :

Starting Early: Retirement Planning

Quiz 18 :

Starting Early: Retirement Planning

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Your expenses for leisure activities will probably decrease during retirement.
Free
True False
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Answer:

False

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

True

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The time to begin saving is when you are young.
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True False
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Answer:

True

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Inflation increases the purchasing power of your retirement savings.
True False
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Saving money doesn't come naturally to many young people.
True False
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Only by saving now and curtailing current spending can you ensure a comfortable retirement later.
True False
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Divorce creates difficulties when it comes to division of marital assets for adults thinking about their retirement years.
True False
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Generally,the current value of your jewelry is not included in your assets.
True False
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It is vital to engage in basic retirement planning activities throughout your working years.
True False
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In a reverse annuity mortgage,a lender uses your house as collateral to buy an annuity for you from a life insurance company.
True False
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Your mortgage,car payments,credit card balances,and taxes due are all examples of your liabilities.
True False
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You can depend on Social Security and your company pension to pay for your basic living expenses.
True False
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The exact amount of money you will need in retirement can be predicted accurately.
True False
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It is almost certain that your pension benefits will increase to keep pace with inflation.
True False
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During retirement,you should increase your premium payments by increasing the face value of your life insurance.
True False
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Saving now for the future requires tackling the trade-offs between spending and saving.
True False
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The current value of your life insurance and pensions are included in your assets.
True False
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You can depend on your employer's health insurance plan and Medicare to pay all your medical expenses when you retire.
True False
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Your assets include everything you own that has value.
True False
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A successful,happy retirement just doesn't happen; it takes planning and continual evaluation.
True False
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