Test your retirement income knowledge

[Cactus]

How much do you know about retirement income. The American College of Financial Services released the results of its first-ever “Retirement Income Literacy Survey" last December and just 20% of retirement-age Americans can pass a basic quiz on how to make their nest eggs last throughout retirement. Now you can take this 38 question quiz right here.

Click "take the quiz" at the top of the page. I was impressed when I managed to get a 92% on the test by only missing 3 questions. To be honest I got lucky on a lot of guesses, but I was also surprised by missing some I thought I new.

 

[nnuut]

How much do you know about retirement income. The American College of Financial Services released the results of its first-ever “Retirement Income Literacy Survey" last December and just 20% of retirement-age Americans can pass a basic quiz on how to make their nest eggs last throughout retirement. Now you can take this 38 question quiz right here.

Click "take the quiz" at the top of the page. I was impressed when I managed to get a 92% on the test by only missing 3 questions. To be honest I got lucky on a lot of guesses, but I was also surprised by missing some I thought I new.

I only got 74% right, but now I know where I was wrong, thanks!

 

[RealMoneyIssues]

Zero right... that explains a lot... :twak:

 

[kave]

Well, I didn't pass. I scored 58%. Boy have I got a lot to learn!! At least I printed out my results and the correct answers so that I can see where I busted!

BTW, Thanks for this!!

 

[James48843]

79%.

And I did learn a lot in the process. That is a darn good page- I'm going to pass that one around! Thanks! !

 

[Frixxxx]

89%, but I have a wife on SSDI and I just filled out a ton of spreadsheets with the effort of making sure I can afford retirement with my employment change. The answer is yes, I can, and even better!

Nice link (quiz), makes everyone think!

 

[Lindoug]

At least I didn't wear my rose-colored glasses, not at all surprise that I got 53%. I KNOW I have a lot to learn, and so little time to learn it in!!! :embarrest:

 

[uscfanhawaii]

I only got 74% right, but now I know where I was wrong, thanks!

They say 60% is a passing score...that seems low to me. Then again, only 20% of the respondents get > 60%!

I only got 66%, but most of the ones I missed were on Medicare and Medicaid. Even after reviewing the answers, I still don't understand the difference between the 2. Guess I gotta do some research on that area before I turn 65! :nuts:

 

[Frixxxx]

They say 60% is a passing score...that seems low to me. Then again, only 20% of the respondents get > 60%!

I only got 66%, but most of the ones I missed were on Medicare and Medicaid. Even after reviewing the answers, I still don't understand the difference between the 2. Guess I gotta do some research on that area before I turn 65! :nuts:

Medicare vs. Medicaid | Medicare Made Clear

Pretty easy to see the differences. But since you had a problem with it, figured I'd help you out! :soapbox:

 

[Boghie]

Got 82%...

Highly recommend for those that are dumb enough to read my comments that you do not trust much of what I say about Medicare or Long Term Healthcare insurance...

 

[Shamus13]

Wow, I have a lot to learn... But by the time I'm close to retire it's all going to change.

 

[Maricar19]

You failed to receive a score of 60% to receive a passing grade for this quiz.
Total score: 22 out of 38, 58%

Need to improve knowledge on Life Expectancy, Annuity, Medical Insurance, and Long Term Care
01. Income Planning 2/4
05. Life Expectancy 1/3
08. Early Death of Spouse1/2
10. Annuity Product Knowledge 1/3
13. Taxes 3/4
17. Inflation 2/2
19. Housing 2/2
21. Medical Insurance Planning 1/3
24. Long-term Care 1/5
29. Basic Financial and Investment Questions 8/10

 

[alevin]

75% here. eesh. failures on Medicare and annuities in particular.

 

[polarbear]

Interesting points. I retired Dec. 31, 2012. Am taking care of things. Have a severe 5-year investment plan 2014-2018 or -2019,
rolling over TSP into Roth IRA and investing as I see fit. Sufficient income
to meet expenses. Medical insurance is there. LTC? Said investment plan will be followed by another one that will take shape
when I get there. Housing? Future R/E empire? We'll see. Taxes? I don't like to think about it. Inflation? Good question.
My answer: multiple savings accounts in stable currencies. Pick your favorites: Brit. pound, yen, euro, Sw. franc.
I like the Polish zloty.

 

[Stoplight]

75% here. eesh. failures on Medicare and annuities in particular.

Right there with ya', Alevin...71% ! I think I also missed the one about bankrupt 401(k) plans....not relevant, in my world !


Stoplight...

 

[sniper]

47%, i bombed the part about medicare, annuities, medicaid, and all the old people related stuff. I got 20 years to study :laugh: