|
|
03-27-2009, 10:06 PM
|
#1
|
Recycles dryer sheets
Join Date: Feb 2006
Location: Indianapolis
Posts: 417
|
Another test
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
03-28-2009, 04:45 AM
|
#2
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
|
The test was a little tough for me, because some of the topics won't affect me (since I am not married, not self employed, and so on).
I got an 88 and a compliment: "You 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." Good thing, since I am planning to retire in November.
The average score for my age group (55 to 64) is 59, which is pretty hair-raising. The average score for women is worse.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
03-28-2009, 05:03 AM
|
#3
|
Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
|
76: Assume the fact I am 68 years old and have never been exposed to a 401k or never earned NEAR the upper limits for IRA's has something to do with such a low score.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
|
|
|
03-28-2009, 07:24 AM
|
#4
|
Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: Colorado, USA
Posts: 1,127
|
96. Probably a good thing since I'm pulling the plug in a few days.
Coach
|
|
|
03-28-2009, 07:58 AM
|
#5
|
Gone but not forgotten
Join Date: Aug 2006
Posts: 6,924
|
Quote:
Originally Posted by Want2retire
The test was a little tough for me, because some of the topics won't affect me (since I am not married, not self employed, and so on).
I got an 88 and a compliment : "You 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." Good thing, since I am planning to retire in November.
The average score for my age group (55 to 64) is 59, which is pretty hair-raising. The average score for women is worse.
|
Same for me.
I knew most of the answers from reading here.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
|
|
|
03-28-2009, 08:08 AM
|
#6
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
|
92 here.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
|
|
|
03-28-2009, 08:51 AM
|
#7
|
Recycles dryer sheets
Join Date: Feb 2007
Posts: 193
|
Another 88
__________________
Oh Look, a squirrel!
|
|
|
03-28-2009, 09:31 AM
|
#8
|
Recycles dryer sheets
Join Date: Oct 2007
Location: Sugar Land
Posts: 265
|
92; surprised at how low the averages are. (Lot's of people will obviously not retire early.)
__________________
Life is a Holiday!
|
|
|
03-28-2009, 09:32 AM
|
#9
|
Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
|
I got a 96, but I thought the questions were both limited and depressing.
"Depressing" because 44% (11) of the questions related to all the complicated rules we've created for provided multiple tax incentives for retirement saving (IRA, 401k, Keogh, 403(b), Roth IRA). Why would anyone want a tax code like the one we've got??
"Limited" because of the general topics covered. In addition to the tax questions, there are 5 questions on products that only life insurance agents can sell (annuities and life insurance).
All those questions on taxes and annuities squeezed out topics like: "How do you determine how much you should save?", "... when you should start saving?", "... how much you'll spend in retirement?", "... where to invest your savings (bonds, stocks, CDs, TIPs, foreign, managed vs. indexed, ..)?", " ... how to deal with the unknowns of inflation, investment returns, and mortality during retirement?".
|
|
|
03-28-2009, 09:42 AM
|
#10
|
Moderator Emeritus
Join Date: Sep 2007
Posts: 17,774
|
72--since I don't see anywhere on the site to check our wrong answers, I don't know why I got a C minus. But ignorance is bliss, I keep telling myself.
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
|
|
|
03-28-2009, 09:46 AM
|
#11
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,022
|
Feever, there is a "review answers" link to the upper right on the score page...
84.
__________________
Numbers is hard
|
|
|
03-28-2009, 10:02 AM
|
#12
|
Moderator Emeritus
Join Date: Sep 2007
Posts: 17,774
|
Ah, see how ignorant I am--I looked below my score for a results button. I'll take it again (and probably score lower)....
ETA: Most of my errors were re annuities, which we're not planning to purchase, and a couple of Roth vs. traditional IRAs.
I agree with Independent about things getting overly complicated.
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
|
|
|
03-28-2009, 10:40 AM
|
#13
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
|
Quote:
Originally Posted by REWahoo
Feever, there is a "review answers" link to the upper right on the score page...
84.
|
84 also. Warped Great minds...
__________________
Have Funds, Will Retire
...not doing anything of true substance...
|
|
|
03-28-2009, 10:51 AM
|
#14
|
Dryer sheet aficionado
Join Date: Mar 2005
Location: Gulf Breeze
Posts: 47
|
92. What does it mean?
|
|
|
03-28-2009, 11:03 AM
|
#15
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Posts: 5,350
|
As ususal i'm worst(or tied for worst) on this site but well above the general population with a score of 72%.
|
|
|
03-28-2009, 05:17 PM
|
#16
|
Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 3,681
|
I got an 88. I thought my wrong answers would be about annuities, but I did fine on those.
|
|
|
03-28-2009, 06:12 PM
|
#17
|
Moderator Emeritus
Join Date: Feb 2004
Location: minnesota
Posts: 13,228
|
Got a 100% but I had to think about the annuity questions.
__________________
.
No more lawyer stuff, no more political stuff, so no more CYA
|
|
|
03-28-2009, 06:26 PM
|
#18
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,327
|
Wow....I aced!
You scored: 92
How you compare
The average score for MSN Money readers is 58
The average score for men is 59
The average score for women is 56
Average scores by age
15-24 46
25-34 53
35-54 57
55-64 59
65 and over 59
Congratulations! You understand many of the finer points involving retirement planning and are fully capable of putting those ideas into action. You can get more information by reading MSN Money articles on planning for retirement, saving for retirement, living well in retirement and estate planning.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
|
|
|
03-28-2009, 06:57 PM
|
#19
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,930
|
96% and just AR enough to wonder what question I missed. Not AR enough to take it over (probably multiple times) to see if I can figure it out!
I must say, this test seemed rather easy (missed question not withstanding). Frightening to see the 'averages' in the followup. I didn't see any real trick questions, but you did have to stay on your toes to catch the "all the above" type answers. If I'd rushed through it (too AR for that I guess) it would be easy to miss a few.
I wonder how those selling "products" for retirement would fare ? Wonder if they would do poorly on the products they don't sell? Hey, this could be a test to give your FP - if you have one. Personally, I finally figured out I could learn stuff as well as they could and I always found myself to be a better fiduciary where MY welfare was concerned. Not knocking all FP. I would actually consider using one in the future. But, now I would be asking pointed and specific questions - sort of to let them do the math and as a sanity check. e.g., asked accountant to calc. how much I could convert to Roth from Trad. IRA and stay within 25% bracket. That kind of stuff is worth it to me since I don't do my own taxes and he has all the figures on his computer.
__________________
Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
|
|
|
03-28-2009, 08:11 PM
|
#20
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,765
|
I got 100%. I owe it all to this board, Ed Slott, and all the BS I had to go through with Megacorp when I retired. Oh yeah, and reading that "Natalie starts investing" parable in Money 20 or 30 times.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
Similar Threads
|
Thread |
Thread Starter |
Forum |
Replies |
Last Post |
TB Test
|
runnerr |
Health and Early Retirement |
10 |
02-09-2008 02:00 PM |
This is only a test....
|
dessert |
Forum Admin |
3 |
07-15-2007 06:52 PM |
The Test
|
Mr._johngalt |
FIRE and Money |
6 |
09-29-2006 08:42 AM |
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|