Retirement Planning

Quiz
•
Social Studies
•
9th Grade
•
Easy
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
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