"Financial IQ" Quiz

"Financial IQ" Quiz

Import Concepts for Those Nearing Retirement
1. Couples age 65 have a 50/50 chance of at least one spouse living to what age?
2. What percent of long-term care benefits are paid to women?
3. Using the traditionally accepted “safe withdrawal rate”, how much monthly income will a $1,000,000 portfolio generate Year 1 of retirement (after-tax with 20% taxes)?
4. A market correction is defined as a 10% or more drop in the market. A bear market is a 20% decline. On average, how often do market corrections / bear markets occur?
5. What is the median annual cost for a private room in an assisted living facility (ALF) vs. private room in a nursing home (in Florida)?
6. Currently, the top marginal tax rate is 37%, but for 50 years (1932 – 1982) the top marginal tax rate ranged from
7. What percentage of your retirement income should be set aside for out-of-pocket medical expenses?
8. According to the Trinity Study performed at Trinity University in 1998, what mix of stocks and bonds produced the best results for a 4% withdrawal rate in retirement?
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