Download Name Date Hour Financial Literacy Standard 6 Retirement Planning

Name ____________________________
Date _______________________
Hour ___________________
Financial Literacy
Standard 6 Retirement Planning
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A rate of return that is ___________ than you calculated could make your retirement benefits less than
expected.
__________ _______________ refers to a statistical measure of the average life span of a specific population.
When planning for retirement, you need to determine how __________money you will need and how many
_____________ you will need it.
Most people plan to work ________ years than they actually do.
Social security was originally designed to be a ____________________ income for people over the age of
______.
If you are concerned about your investment losing money instead of appreciating, than you are worried about
_______________ risk.
As a young person, saving for your retirement is an example of a ___________-term goal.
A risk management strategy where you include a wide variety of investments within your portfolio is called
___________________________.
People invest when risk is involved because the potential to make money is _________ than the risk of losing it.
The primary difference between an annuity and a 401(k) is annuities provide ______________ amounts each
month after retirement and income from a 401(k) is based on the _________________.
If your company has a retirement plan, you should sign up __________so your investment will start growing.
The potential risk that you will lose your money due to a company going bankrupt is call _____________ risk.
The best way to protect you from fraud risk is to invest in only ___________ companies.
T or F: Even though participating in company-sponsored accounts is voluntary, it is something all employees
should do.
IRAs are _________________ ________________ _______________.
The highest percentage of income for people over 65 comes from ___________ ____________.
Most IRAs are invested in _______________ _________________.
If you have an IRA, you are required to start drawing income from it at age __________.
If you have retirement account, you can access the funds at any time, but you may have to pay a _________ to
do so.
The risk that you have been tricked or deceived when making an investment is called ___________ risk.
Money invested into a Roth IRA is __________-________ dollars.
The greater the potential to gain higher earnings the _______ the level of risk involved.
A company sponsored plan where you determine how to invest your money is called a(n)
_____________________.
T or F: You should rethink your retirement goals and lifestyle if your money is running low for retirement.