You Can Automatically Save More for Retirement as Your Income

question 118

True/False

You can automatically save more for retirement as your income increases by setting your savings target as a percentage of income rather than a specific dollar amount.

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Definitions:

Exceptions

Specific conditions or cases for which the general rule does not apply.

Firm Offers

In contract law, promises made by a seller to hold an offer open to a buyer for a certain period without requiring consideration.

Irrevocable Offers

Offers in a contractual context that cannot be withdrawn, revoked, or altered once made, often for a specific period of time.

Consideration

In contract law, something of value (such as goods, services, or money) exchanged between parties that is necessary for a valid contract.