personal finance
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| common misconceptions about retirement? | show 🗑
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| show | yes
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| how many years should you expect to spend in retirement | show 🗑
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| Be certain you don't let your 45th birthday roll by without a comprehensive retirement plan. | show 🗑
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| At age 65, what is the average life expectancy of a man and 19 for a woman. | show 🗑
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| show | You can expect to live in retirement for many years.; Social Security and private pension may be insufficient to cover the cost of living. ; Inflation may diminish the purchasing power of your retirement savings.
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| You can determine your net worth by: | show 🗑
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| show | When a lender uses your house as collateral to buy an annuity for you from a life insurance company,
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| When you are nearing retirement, it is a good idea to: | show 🗑
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| In case of a divorce, division of pension benefits generally depends on the length of the marriage. | show 🗑
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| following expenditures for retirees is likely to increase | show 🗑
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| show | clothing expenses; federal income taxes
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| show | universal design
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| When do you apply for Social Security? x | show 🗑
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| employer retirement plan specifies the benefits promised to the employee at the normal retirement age? | show 🗑
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| show | traditional IRA
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| His contributions are not tax deductible but earnings accumulate | show 🗑
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| show | immediate annuity
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| Estate planning is a definite plan for the administration and disposition of one's property during one's lifetime and at one's death. | show 🗑
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| A large percentage of people do little or nothing to provide for those who will survive them. | show 🗑
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| show | building your estate through savings, investments, and insurance.
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| In estate planning, if you are married: | show 🗑
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| show |
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| simple wills is called an | show 🗑
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| leaves one half of your adjusted gross estate to your spouse outright as a marital share? | show 🗑
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| show | exemption trust will
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| show | holographic will
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| show | Formal Will
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| show | executor
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| document explains, adds, or deletes provisions in your existing will? | show 🗑
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| show |
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| documentary agreement between spouses before marriage in which one or both parties often waive a right to receive property under the other's will or under state law | show 🗑
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| person who assumes the responsibilities of providing the children with personal care and managing the estate | show 🗑
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| person or institution that holds or generally manages property for the benefit of someone else under a trust agreement | show 🗑
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| legal document authorizing someone to act on your behalf is called a: | show 🗑
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| selected to receive the assets of his brother Kyle in the event of Kyle's death. | show 🗑
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| If you establish a(n) revocable trust, you retain the right to end the trust or change its terms | show 🗑
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| Living trust is a property management arrangement that you establish while you are alive. | show 🗑
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| show | 9
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| An inheritance tax is levied on the right of an heir to receive all or part of the estate and life insurance proceeds of a deceased person. | show 🗑
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| The maximum tax rate on estates and gifts: | show 🗑
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Created by:
mcarter06