14 Questions
Which of the following is NOT one of the three stages of retirement mentioned in the text?
Inactive
Which of the following is NOT mentioned as a source of retirement income in the text?
Savings accounts
What are two examples of retirement assets mentioned in the text?
Primary Home and Secondary Home
Which of the following is NOT one of the largest risks in retirement planning?
Disability
What is the purpose of the '4% rule' in retirement planning?
To calculate the amount you can withdraw each year in retirement
What is a common misconception about retirement spending?
Retirees typically spend less in retirement compared to their pre-retirement income
What is the recommended percentage of income to save for retirement, according to many financial planners?
10-15%
Which of the following is NOT mentioned as a source of retirement income in the text?
Inheritance
What is the primary home mentioned as a source of retirement assets?
A house that you own and live in
What are the three stages of retirement mentioned in the text?
Active, Passive, and Supported
What is the primary risk associated with the 'sequence of returns' in retirement planning?
Negative impact on retirement
What is the purpose of the '4% rule' in retirement planning?
To calculate the amount to withdraw each year in retirement
What is the recommended savings target for retirement, according to the text?
10% to 15% of income
What is one way to mitigate the risk of outliving your savings in retirement?
Changing expectations in retirement
Discover what retirement means and the different stages it encompasses. Learn about the financial aspects of retirement and explore activities you may want to pursue during this phase of life. Explore the vocabulary related to retirement and visualize your retirement goals through drawing. Test your knowledge on retirement and gain insights into planning for a fulfilling future.
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