Retirement Planning - Hampton

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Life expectancy refers to

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A statistical measure of the average life span of a specific population.

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Most people plan to work

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more years than they actually do

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When should you start putting money away for retirement? Options: As soon as possible, Never, When you are 50., Whenever you feel like it.

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As soon as possible

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Should retired people always plan to sell their family home and move to a smaller house?

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False

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When planning for retirement, you need to determine how much money you will need and how many years you will need it.

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how much money you will need and how many years you will need it.

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What is one strategy that you can use to save money for retirement?

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Put a little money into retirement each month.

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Which of the below is an employer based retirement plan that both employees and employers contribute to?
Options: Traditional IRA, Roth IRA, 401K, Pension

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401K

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Which of the below is an employer based retirement plan that only employers contribute to? Traditional IRA, Roth IRA, 401K, Pension

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Pension

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What type of employers usually offer pension plans for employees? Options: Government agencies, fast food restaurants, small start ups, private schools

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Government agencies

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Which of these accounts do you set up at a brokerage firm or other financial institution? 401K, Pension, Individual Retirement Account

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Individual Retirement Account