1
Q
What are the common mistakes in retirement planning
A
not planning at all
planning too late (investing too little)
earning very little on investments
underestimating effects of inflation
2
Q
What are the methods to determine retirement needs?
A
replacement ratio method
expense method
3
Q
What are the assumptions in retirement calculation
A
rate of return inflation retirement age retirement period retirement needs
4
Q
What is the 4 step process to determine retirement needs?
A
set retirement goals
determine the level of financial resources available
work out the shortfall
formulate a savings/investment plan to fund the shortfall
5
Q
What are the sources of retirement funding
A
CPF
SRS
assets (savings, investment, insurance)
Continued employment during retirement
Personal Financial Planning
flashcards
Decks in class (9)
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