Retirement Planning Quiz

What is the average retirement age in the U.S.?

• 60

• 65

• 70

• 75

What percentage of your current income is recommended for retirement in the U.S.?

• 50%

• 60%

• 70%

• 80%

At what age is there a penalty for withdrawing from a retirement account?

• 55

• 59 ½

• 62

• 65

What type of retirement plan is a 401(k)?

• Employer-sponsored

• Individual

• Government

• Private

What is a Roth IRA?

• Pre-tax retirement account

• Tax-free retirement account

• Post-tax retirement account

• Government pension plan

What is the average life expectancy in the U.S.?

• 75

• 77

• 80

• 85

What is the recommended retirement savings for someone earning $37,500 annually?

• $360,000 - $600,000

• $200,000 - $400,000

• $500,000 - $700,000

• $600,000 - $800,000

What should you do if your employer matches your retirement contributions?

• Contribute less than they match

• Contribute the same as they match

• Contribute more than they match

• Do not contribute

What is the penalty for early withdrawal from a retirement account?

• 5%

• 10%

• 15%

• 20%

What is the purpose of retirement planning?

• To save for a vacation

• To plan for future expenses

• To buy a house

• To invest in stocks