According to critics, which of the following statements is true?
you can rely on social security as your only source of retirement income.
you can rely on social security to maintain your current lifestyle.
you should not rely on social security because it is an uncertain income.
none of the above
your grandpa is 62 and asks you if he is eligible to collect social security. what do you tell him?
he could collect his full payment right now.
he could have started collecting at 59 ½.
he can receive reduced payments now.
none of the above
at this stage in your life as a student, what investment would you recommend to save a portion of your money for your retirement?
invest in a low interest savings account
invest in a checking account so that you can have immediate access to your money
invest in some “safe” securities so that you can get the highest rate of return
invest in a security that carries higher risk and a higher rate of return
your grandpa has an account in which he must make minimum withdrawals starting at 70 ½. which account would you assume he has?
roth ira
traditional ira
401(k)
403(b)
which type of individual retirement account are you typically able to make withdrawals tax-free?
roth ira
traditional ira
401(k)
403(b)
which type of individual retirement account should you choose if you want your contributions to be tax deductible?
roth ira
traditional ira
401(k)
403(b)
your spouse is a teacher at the local elementary school. which retirement plan would she most likely have?
roth ira
traditional ira
401(k)
403(b)
if you work your entire life, then you will be adequately prepared for retirement, even without a retirement plan in place.
true - false
403(b) plans are offered by various corporations.
true - false
ira stands for important retirement assets.
true - false
it is always good to invest in a retirement account at a young age so you can use the money to pay for a down payment on a house.
true - false