Question 20 2 Points Which of the following statements regarding Social Security benefits is true? Social Security benefits are retirement benefits extended only to self-employed people. For the average wage earner, Social Security benefits match a percentage of the income earned in the year before retirement Social Security benefits are available to military personnel only. Social Security benefits may be reduced if the recipient is under age 55 and still gainfully employed. To obtain Social Security benefits, you must participate in enough quarters. Planning for retirement over a series of short-run time frames requires: stating your retirement income objectives as a percentage of your present earnings. the retiree to wait until age 50 to start planning. annual savings of at least $100,000. Investment of retirement funds in more risky investments. estimating the inflation factor by reducing inflation projections Question 18 Retirement planning starts with: A determining the size of the required nest egg. B considering the longevity of the retiree. 3 defining the investment program. determining the interest on income-earning assets, setting retirement goals. E Question 17 Which of the following is a requirement for an individual to qualify for full retirement benefits under the Social Security system? D The individual must be employed in a job covered by Social Security for at least 60 quarters, or 15 years, which need not be consecutive. The individual must be employed in a job covered by Social Security for at least so quarters, or 12.5 years, which need not be consecutive. The individual must be employed in a job covered by Social Security for at least so consecutive quarters, or 12.5 years The Individual must be employed in a job covered by Social Security for at least 40 consecutive quarters, or 10 years. The individual must be employed in a job covered by Social Security for at least 40 quarters, or 10 years, which need not be consecutive. Question 18 2 Points