What Is the Third Step of a Retirement Needs Analysis

question 13

Multiple Choice

What is the third step of a retirement needs analysis?

• A)Establish risks and tolerance for them
• B)Determine rates and ages to be used for calculations
• C)Develop retirement income,expenses,and required capital withdrawals.
• D)Calculate lump sum needed at retirement
• E)None of the above

---

Definitions:

Administrative Expense

Costs related to the general operation and administration of a business, including salaries of executive personnel, office supplies, and utilities.

Direct Labor Cost

The total cost of wages paid to labor directly involved in the production of goods or services.

Manufacturing Overhead Cost

Expenses related to manufacturing that are not directly tied to a specific product, such as factory rent and utilities.

Selling Expense

Costs incurred to secure customer orders and deliver the finished product to the customer, including advertising and sales staff salaries.