Retirement Planning Should Begin

question 88

Multiple Choice

Retirement planning should begin

• A) as early as possible in order that you accumulate sufficient funds for retirement.
• B) as soon as you start working full time.
• C) a few years before you plan on retiring.
• D) you do not need to plan since social security and your firm's pension will be sufficient.

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Definitions:

Interest Rate

The amount charged, expressed as a percentage, by a lender to a borrower for the use of assets over a specific period of time.

Investment

The allocation of resources, usually financial, in expectation of generating an income or profit in the future.

Money Supply

The overall financial resources quantity in an economy at a specified time.

Interest Rate

The percentage of a sum of money charged by a lender to a borrower for the use of money, typically expressed as an annual percentage.