How does life expectancy affect retirement planning?Question 8AnswerA.It has no impact on retirement planningB.Shorter life expectancy leads to higher retirement benefitsC.Longer life expectancy requires a larger retirement corpusD.Longer life expectancy reduces the need for retirement savings
Question
How does life expectancy affect retirement planning?Question 8AnswerA.It has no impact on retirement planningB.Shorter life expectancy leads to higher retirement benefitsC.Longer life expectancy requires a larger retirement corpusD.Longer life expectancy reduces the need for retirement savings
Solution
The correct answer is C. Longer life expectancy requires a larger retirement corpus. This is because if you live longer, you will need more money to sustain your lifestyle after retirement. This includes costs for housing, food, healthcare, and other personal expenses. Therefore, if life expectancy increases, it is necessary to save more for retirement to ensure that you do not outlive your savings.
Similar Questions
How would having a high infant mortality rate affect a nation’s life expectancy?A.A high infant mortality rate has no predictable effect on life expectancy in a country.B.A high infant mortality rate would greatly decrease life expectancy in a country.C.A high infant mortality rate could never create any change to life expectancy in a country.D.A high infant mortality rate would greatly increase life expectancy in a country.
Which of the following statements about life expectancy in the United States is correct?A.Males born in 2015 can expect to live 76.3 years; females can expect to live 81.2 years.B.Females born in 2015 can expect to live 76.3 years; males can expect to live 81.2 years.C.Females born in 2015 can expect to live 66.3 years; males can expect to live 71.2 years.D.Males born in 2015 can expect to live 66.4 years; females can expect to live 71.2 years.
Which of the following factors influences the determination of retirement age?Question 20AnswerA.Current market trendsB.Random selectionC.Personal health and life expectancyD.Retirement of friends or family members
Identify a true statement about life expectancy.Multiple choice question.It increases with rise in population.It is based on the growth rate.It is usually reported at birth.It decreases with fertility rate.
Which statement is true of life expectancy?Group of answer choicesThe life expectancy at birth is higher for males than for females in almost all societies.In the United States, the average life expectancy for males was 81 years, while it was 76 for females.Women in Hong Kong rank at the top in terms of life expectancy.By region, life expectancy is lowest in Western and Southern Europe.
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