Retirement Planning and Estate Management
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Questions and Answers

What is retirement planning?

  • The process of working part-time after retirement for extra income
  • The process of preparing for retirement by saving money and investing (correct)
  • The process of relying solely on government assistance after retirement
  • The process of traveling and enjoying leisure activities after retirement

    • What is estate planning?

  • The process of donating all assets to charity before retirement
  • The process of transferring all assets to the government after retirement
  • The process of selling off all assets before retirement
  • The process of creating a plan for how your estate will be distributed after you die (correct)

    • What is Social Security in the Philippines?

  • An investment scheme for expatriates in the Philippines
  • A private retirement savings plan for high-income individuals in the Philippines
  • A program exclusively for overseas Filipino workers providing healthcare benefits only
  • A government-run social security program providing retirement, disability, and survivors benefits to employed Filipinos (correct)

    • Who is eligible for the Government Service Insurance System (GSIS)?

    <p>Government employees and their dependents</p> Signup and view all the answers

    What funds the Social Security program in general?

    <p>Payroll taxes paid by both employees and employers</p> Signup and view all the answers

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