Pop Quiz…

Have you done your homework on retirement?

1. In order to maintain living standards in retirement, what percent of annual income do financial professionals think people should save?

A. About 3%

B. About 6%

C. About 9%

D. About 12%

E. About 15%

2. If an investor could set aside $50 each month for retirement, how much might that end up becoming in 25 years, including interest if it grew at the historical stock market average?

A. About $15,000

B. About $30,000

C. About $40,000

D. About $50,000

E. More than $60,000

3. Roughly how much do many financial professionals suggest people think about saving by the time they retire?

A. About 2-3 times the amount of your last income

B. About 4-5 times the amount of your last income

C. About 6-7 times the amount of your last income

D. About 8-9 times the amount of your last income

E. About 10-12 times the amount of your last income

4. Which of the following do you think is the single biggest expense for most people in retirement?

A. Housing

B. Health Care

C. Taxes

D. Food

E. Discretionary expenses

Check your answers below! Did you miss any of these questions? Are you still unsure about any of these topics? If so, don’t let this pop quiz burst your bubble! Click here to meet with a Duncan Financial Group personal advisor that’s right for you.

Answers:

1. E. About 15%
2. C. About $40,000
3. E. About 10-12 times
4. A. Housing