Episode 126: What’s Your Retirement Income Literacy?

Ready to put your retirement income knowledge to the test? Take this quiz and follow along on today’s podcast to see how you do.

 

Read more and get additional financial resources here: https://coveryourassetskc.com/episode-126-whats-your-retirement-income-literacy/ 

 

Take the quiz here: https://www.surveymonkey.com/r/2020-retirement-income-survey 

 

What we discuss on this episode: 

0:56 - Could you pass this retirement income literacy quiz?

3:14 - What’s the most you can afford to withdraw each year to have a 95% chance that your assets will last for 30 years?

5:12 - What is the average life expectancy of the average 65-year-old male?

6:33 - When do you have to start taking RMDs?

8:22 - Can a working retiree contribute to an IRA or Roth IRA?

9:53 - What medical expenses will traditional Medicare cover?

11:22 - Nationally, who pays the majority of long-term care expenses?

12:50 - Who provides the majority of long-term care services?

16:09 - Is your 401(k) at risk if the company sponsoring the plan goes bankrupt?

18:24 - How did you do?