Retirement Planning

Retirement Planning

9th Grade

6 Qs

quiz-placeholder

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Retirement Planning

Retirement Planning

Assessment

Quiz

Social Studies

9th Grade

Easy

Created by

Frank Franz

Used 1+ times

FREE Resource

6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key factor in being able to retire comfortably at any age?

Living in a low-cost country

Inheriting a fortune

Working out a financial plan

Winning the lottery

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of their pre-retirement income do retirees generally need each year?

60%

50%

80%

70%

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the annual maximum contribution to an IRA for someone under age 50 in 2024?

$8,000

$7,000

$6,000

$5,000

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of IRA allows for tax-free withdrawals if certain conditions are met?

Traditional IRA

Roth IRA

SIMPLE IRA

SEP IRA

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of a Traditional IRA?

High penalty fee for early withdrawal

Limited investment options

Contributions are not tax-deductible

No tax benefits

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

At what age must workers start taking minimum withdrawals from a Traditional IRA?

65

75

70.5

72