Put your retirement IQ to the test

  • By Editors of Kiplinger's Personal Finance,
  • Kiplinger
  • Getting Ready to Retire
  • Social Security
  • Getting Ready to Retire
  • Social Security
  • Getting Ready to Retire
  • Social Security
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What's the biggest threat to a comfortable retirement? Ignorance. The decisions you make leading up to retirement, including how much to save, how to allocate your investments, when to claim Social Security and how to anticipate your retirement expenses, can make a big difference as you grow older.

And the decisions don't stop on the day you retire. Once you're in retirement, you'll need smart strategies for taking withdrawals and investing your resources so your nest egg lasts as long as you do.

Think you know the ins and outs of retirement? Take this true-or-false quiz to find out.

1. Most people claim Social Security benefits before reaching full retirement age.

  • True
  • False

Answer

2. To support your lifestyle in retirement, you'll need 100% of your preretirement income.

  • True
  • False

Answer

3. In comparison to your final salary, your nest egg should be twice as big.

  • True
  • False

Answer

4. The longer you delay taking Social Security, the more likely you'll be cheated of your fair share.

  • True
  • False

Answer

5. Once you file for Social Security, you can’t change your mind.

  • True
  • False

Answer

6. Stocks are great investments when you’re young, but they are way too risky for retirees to own.

  • True
  • False

Answer

7. Social Security is going broke.

  • True
  • False

Answer

8. You and your spouse should plan on spending more than a quarter of a million dollars out-of-pocket to cover health costs in retirement.

  • True
  • False

Answer

9. If you're short on savings, you can always work longer.

  • True
  • False

Answer

10. If you follow the "4% Rule" for withdrawing from your retirement accounts annually, you'll probably be set for life. No worries about running out of money.

  • True
  • False

Answer

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© 2018 The Kiplinger Washington Editors, Inc.
Votes are submitted voluntarily by individuals and reflect their own opinion of the article's helpfulness. A percentage value for helpfulness will display once a sufficient number of votes have been submitted.
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