Retirement Planning
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Questions and Answers

Which of the following is NOT one of the three stages of retirement mentioned in the text?

  • Passive
  • Active
  • Supported
  • Inactive (correct)
  • Which of the following is NOT mentioned as a source of retirement income in the text?

  • Working into retirement
  • Savings accounts (correct)
  • Social Security
  • Pensions
  • What are two examples of retirement assets mentioned in the text?

  • Primary Home and Secondary Home (correct)
  • Investment Accounts and Business Interests
  • Income producing real estate and Retirement Accounts
  • Vehicles and personal property
  • Which of the following is NOT one of the largest risks in retirement planning?

    <p>Disability</p> Signup and view all the answers

    What is the purpose of the '4% rule' in retirement planning?

    <p>To calculate the amount you can withdraw each year in retirement</p> Signup and view all the answers

    What is a common misconception about retirement spending?

    <p>Retirees typically spend less in retirement compared to their pre-retirement income</p> Signup and view all the answers

    What is the recommended percentage of income to save for retirement, according to many financial planners?

    <p>10-15%</p> Signup and view all the answers

    Which of the following is NOT mentioned as a source of retirement income in the text?

    <p>Inheritance</p> Signup and view all the answers

    What is the primary home mentioned as a source of retirement assets?

    <p>A house that you own and live in</p> Signup and view all the answers

    What are the three stages of retirement mentioned in the text?

    <p>Active, Passive, and Supported</p> Signup and view all the answers

    What is the primary risk associated with the 'sequence of returns' in retirement planning?

    <p>Negative impact on retirement</p> Signup and view all the answers

    What is the purpose of the '4% rule' in retirement planning?

    <p>To calculate the amount to withdraw each year in retirement</p> Signup and view all the answers

    What is the recommended savings target for retirement, according to the text?

    <p>10% to 15% of income</p> Signup and view all the answers

    What is one way to mitigate the risk of outliving your savings in retirement?

    <p>Changing expectations in retirement</p> Signup and view all the answers

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