CH 22 - Determining Post-Retirement Monetary Needs–Case Study

Question 1

SIX steps to determine the amount for post-retirement.

Answer 1

1. Add current sources of income
2. Determine required income
3. Compare income needs with sources
4. See if there is a short fall or retirement income deficiency.
5. Determining what needs inflation protection
6. Calculate the target amount

Question 2

Which of the following is “inflation protected” during retirement?

A. pensions

B. social security

Answer 2

A. no

B. yes

Question 3

Usually clients determine their own retirement needs by using a _______.

Answer 3

“Ball Park Estimate”

Question 4

Using software considerations, client results are considered an estimate and are ________ almost immediately.

Answer 4

outdated almost immediately.

Question 5

How often should post-retirement software be recalculated?

Answer 5

very often, using a wide range of results

Question 6

How should software calculations be chosen?

Answer 6

carefully