Retirement Planning Quiz
With my extensive background in both finance and education, quizzes help people learn and remember important things. I can't think of anything more important than saving for your future....especially your retirement. Here are a few questions you should ask yourself and if you do not know the answers to them or want to find out more, schedule a time with me to discuss your financial plan.
Test your knowledge of retirement planning and what you should consider when planning for retirement.
1 TRUE OR FALSE? US Savings rates are inadequate for retirement needs.
With U.S. Interest rates at all time lows, your earnings could be small if you chose only that route.
2 TRUE OR FALSE? Approximately 93% of individuals retire between the ages of 60 and 70.
I bet you thought it done much younger didn't you?
3 TRUE OR FALSE? If people adequately save for retirement beginning at ages 25 to 35, they would need to save 10-13% of their gross annual income.
I bet you did not realize it was so high of a percentage! Saving is key!
4 TRUE OR FALSE? You should consider investing in a broad portfolio of growth investments over your entire working life.
This helps to make sure that you are not keeping all of your eggs in one basket.
These questions are essential to formulating an efficient plan for your future legacy.