Preparing for the Future

Question 1

Describe the typical costs of a retiree.

Revolt · Accepted Answer

Typical costs for a retiree include housing, food, utilities, transportation, health insurance, medicines, and other medical care. Retirees also need money for personal expenses, insurance, taxes, and emergencies, even if some work-related costs go down.

Question 2

Quality of life can include mental, as well as physical, activity level.

Revolt · Accepted Answer

T

Question 3

Suburban communities are generally more populous and densely built than urban areas.

Revolt · Accepted Answer

F

Question 4

It is a poor investment to have a certain amount of money set aside for emergencies.

Revolt · Accepted Answer

F

Question 5

Medicare benefits are restricted to those who _________.

Revolt · Accepted Answer

Are 65 years and older

Question 6

Describe the difference between a 401(k) plan and an Individual Retirement Account.

Revolt · Accepted Answer

A 401(k) plan is a retirement savings plan offered through an employer, and employees often contribute part of their paycheck, sometimes with employer matching. An Individual Retirement Account, or IRA, is opened by an individual on their own through a financial institution rather than through an employer.

Question 7

A savings account is a risky investment.

Revolt · Accepted Answer

F

Question 8

When buying a home, it is important to factor in future costs, like ___________.

Revolt · Accepted Answer

Utility costs

Preparing for the Future Answers

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