Test Your Annuity Acuity: An Advanced True/False Quiz

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

Despite wanting and needing more guaranteed income in retirement, many Americans are hesitant to purchase an annuity to provide that income. Some of this hesitancy is due to misconceptions around the products and how they can best be used to support a secure retirement.

Most people do not understand annuities well. In fact, The American College of Financial Services tested a group of 60- to 75-year-olds, and they got only 20% of the annuity questions right on average — the lowest score of 12 distinct retirement income areas tested in the quiz.

A secure retirement plan requires you to make decisions about how to generate income and, in some cases, whether an annuity fits into your plan. With so many different annuity options on the market, it is important to understand the basics.

Test out your own annuity literacy with this 10-question true/false quiz.

Take the Quiz on Kiplinger

Share:
facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

RECENT POSTS

3 Roth Conversion Traps To Avoid After The SECURE Act

Roth conversions can be a powerful tax and retirement planning technique. The idea behind most Roth conversions is to take money from an IRA and convert it to a Roth IRA. Essentially, you’re paying taxes today instead of paying taxes in the future.

10 Common Estate Planning Mistakes (and How to Avoid Them)

Estate planning and end of life planning are about taking control of your situation. Death and long-term care later in life might be hard to fathom right now, but we can’t put off planning out of fear of the unknown or because it’s unpleasant. Don’t wait for life to happen to you, though.

4 Ways To Improve Your Estate Plan

Most people want to plan for a good life and a good retirement, so why not plan for a good end of life, too? Let’s look at four ways you can refine your estate plan, protect your assets and create a level of control and certainty for your loved ones.
1 2

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation