Which of the following is not one of the three aspects that most seriously affect a retirement plan?
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a) The period of accumulation |
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b) The amount of annual savings required |
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c) RESP savings |
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d) The rate of return |
Which of the following is not one of the uncontrollable factors affecting retirement planning?
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a) Inflation rates |
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b) Income tax rates |
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c) Rates of return on investments |
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d) Spending habits |
What is a claw-back?
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a) A claw-back is a means test when your net income is below a certain amount, the government benefits you will receive will be reduced |
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b) A claw-back is a means test when your net income is above a certain amount, the government benefits you will receive will be increased |
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c) A claw-back is a means test when your net income is above a certain amount, the government benefits you will receive will be reduced |
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d) They are ALL true |
When planning for retirement, why do we prepare short-term budgets?
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a) To help meet short-term goals. |
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b) To determine how much savings are possible each year. |
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c) To estimate retirement spending. |
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d) All of the above. |
