Retirement in style is part of the American dream. It's hard to know exactly how to save your money over the years and how much you'll need for a comfortable retirement. How much do you really know about how your savings stack up?
All retirees are entitled to the same monthly Social Security payment.
Which of the following retirement accounts or services may not still hold money by the time you're 65?
Which of the following accounts is in no way connected to workers' monthly wages?
Where is the money for Social Security held?
the stock market
a bank account
Which of the following is closest to the average monthly Social Security benefit?
Which of the following is most likely to benefit from employer matching?
If you contribute to a 401k or IRA account, you need NOT contribute to Social Security.
The law dictates that every American taxpayer contribute to a 401k or IRA account.
What is the most likely effect of retiring baby boomers on Social Security?
Social Security benefits will increase.
Social Security benefits will decrease.
The estate tax will be repealed.
Which of the following accounts could you short in order to take a vacation?
Social Security and 401k
Social Security and IRA
401k and IRA
Which of the following allows the highest yearly tax-deductible contribution?
In what year does the Social Security Administration predict that the Social Security Trust Fund will be exhausted?
For what percentage of retired Americans does Social Security provide more than half their annual income?
Why do critics compare the Social Security system to a Ponzi scheme?
Social Security payments are mandatory for all American workers.
Both were illegal under the original U.S. Constitution.
Offering benefits at existing rates depends on increasing workers paying into the system.
Which of the following is a commonly proposed way to stretch existing Social Security monies farther?