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Old 03-29-2009, 11:38 AM   #21
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92; surprised at how low the averages are. (Lot's of people will obviously not retire early.)
64. Guess it's just ignorance.

Or the fact that I'm retired, under 50 yo, can't buy any more IRAs, may not ever see SS, and no way would touch an annuity.

No questions on tax credits for full time students, not interested.
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Old 03-29-2009, 11:59 AM   #22
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80. Some I just didn't know because they aren't applicable to my life (like the income limit for a non-working spouse IRA contribution and the length of time you must be married to collect spousal SS) and some I just disagree with the ostensibly "correct" answer. For example, the allegedly correct answer on "why should you not buy an annuity in a 401k, 403b, etc account" was "all of the above" -- i.e. it is already tax sheltered, the commissions are high and the surrender charges are high -- but in my opinion, the correct answer should be only "because it's already tax sheltered" since the other factors exist even in a non-tax sheltered account.
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Old 03-29-2009, 12:21 PM   #23
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84 - of the 4 I got wrong, one of my replies was just plain stupid by me

Thanks for posting the quiz.
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Old 03-29-2009, 12:27 PM   #24
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I am 74 and have been retired 20 years so the world has moved on
since I was vitally interested in the nuts and bolts. At least I beat
my age, but not by much.

Cheers,

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Old 03-29-2009, 02:26 PM   #25
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100, but I had to think about the annuity questions and just guessed on the life insurance question.

I think one of the questions is not strictly correct:
Once I retire how much money can I earn without losing benefits
Correct answer: If you are over 65, there is no limit on how much you can earn.

But, the answer should have been If you are over your full retirement age, there is no limit on how much you can earn.

From the SS page: "While you are working, your earnings will reduce your benefit amount only until you reach your full retirement age."
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Old 03-29-2009, 05:24 PM   #26
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84
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Old 03-29-2009, 05:35 PM   #27
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80. My booboos were annuity related I guess that shows I'm a prime candidate for one - NOT!
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Old 03-29-2009, 07:08 PM   #28
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Your results
Review quiz answers
You scored: 84
How you compare
The average score for MSN Money readers is58The average score for men is59The average score for women is56Average scores by age
15-244625-345435-545755-645965 and over59You have a solid understanding of the issues needed to plan your own retirement. You have a clear grasp of the concepts and understand many of the regulations concerning your nest egg. You can brush up further by reading MSN Money articles on planning for retirement, saving for retirement, living well in retirement and estate planning. Play with our retirement planner, too. Other calculators:


Guess I better bone up a bit and not get married or buy any annuities!
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Old 03-30-2009, 07:54 AM   #29
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84
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Old 03-30-2009, 09:34 AM   #30
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Quote:
Originally Posted by Gumby View Post
80. Some I just didn't know because they aren't applicable to my life (like the income limit for a non-working spouse IRA contribution and the length of time you must be married to collect spousal SS) and some I just disagree with the ostensibly "correct" answer. For example, the allegedly correct answer on "why should you not buy an annuity in a 401k, 403b, etc account" was "all of the above" -- i.e. it is already tax sheltered, the commissions are high and the surrender charges are high -- but in my opinion, the correct answer should be only "because it's already tax sheltered" since the other factors exist even in a non-tax sheltered account.
84 and I completely agree on that annuity/401K question, so I'm giving myself an 88.

I didn't know who can have a 403B because it doesn't apply, and I missed a couple of the SS questions.
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Old 03-30-2009, 09:52 AM   #31
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This board is sort of like the Lake Wobegon children; we're all above average!



t.r.
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Old 03-30-2009, 10:13 AM   #32
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80 ... I'll take it considering half of the material does not apply to me.
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Old 03-30-2009, 11:36 AM   #33
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I scored 84. I agree that the quiz seem limited. I understand why the younger participants didn't average high scores (SS and tax laws will probably change), but the 45+ plus crowd average scores surprised me. I've learned a lot from participating on this forum and for reading lots of retirement articles.
Thanks for sharing!
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Old 03-30-2009, 04:44 PM   #34
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80, a lot of questions that don't apply to me...
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Old 03-30-2009, 05:49 PM   #35
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96 but I've been retired for 20 months.
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