Retirement Planning

What is the first step in planning for retirement?

• Assess current financial situation
• Estimate retirement expenses
• Set retirement goals
• Review and adjust investments

What should you consider when estimating retirement expenses?

• Current financial situation
• Healthcare and long-term care costs
• Reviewing and adjusting your plan
• Seeking professional advice

What should you do when reviewing your investment portfolio as you near retirement?

• Shift to a more conservative investment approach
• Maximize contributions to tax-advantaged retirement accounts
• Calculate retirement savings needs
• Manage high-interest debt

What is the importance of managing debt before retirement?

• Debt has no impact on retirement income
• Debt can significantly impact retirement income and financial stability
• Debt is not a concern until after retirement
• Debt has minimal impact on retirement savings

When should you regularly review and adjust your retirement plan?

• Only when you are close to retirement age
• Once every five years
• Periodically and as needed
• Only when there are major financial changes

What is the first step in planning for retirement?

• Assess current financial situation
• Estimate retirement expenses
• Set retirement goals
• Review and adjust investments

What should you consider when estimating retirement expenses?

• Current financial situation
• Healthcare and long-term care costs
• Reviewing and adjusting your plan
• Seeking professional advice

What should you do when reviewing your investment portfolio as you near retirement?

• Shift to a more conservative investment approach
• Maximize contributions to tax-advantaged retirement accounts
• Calculate retirement savings needs
• Manage high-interest debt

What is the importance of managing debt before retirement?

• Debt has no impact on retirement income
• Debt can significantly impact retirement income and financial stability
• Debt is not a concern until after retirement
• Debt has minimal impact on retirement savings

When should you regularly review and adjust your retirement plan?

• Only when you are close to retirement age
• Once every five years
• Periodically and as needed
• Only when there are major financial changes