Given hard choices in life, how will you allocate your limited resources? You will be given 10 questions. Answer as realistically as you can — ie. based on your own lifestyle.
You will not be able to go backwards in the game. Don’t REFRESH (or you will restart the quiz). Just follow the questions to the end. You can replay this game as often as you like.
DETAILS OF WHO YOU ARE
You are about 60 years old. You are not at the career mode or earning mode anymore. Instead, you are at the saving-decision mode. You and your spouse are thinking about retirement. You know you can start withdrawing on Social Security at age 62 to help pay off some of your living expense, but you don’t know if it is the right decision. You own a house and part of your mortgage is paid off, (ie. you have equity that can be used as collateral). Your kids are grown and have moved out of your home.
So, what are your next plans? What should your retirement budget be? Are you saving too much and depriving yourself of traveling fun? How do you navigate through the many financial decisions at this stage of your life?
Your Pre-Retiree Peer: Bill and Betty
This is how much they earn, spend and save.
(They are only a representative of the group. Work with their numbers to discover the principles behind each lesson.)
If you were Bill and Betty, how would you handle your money? You’ll be surprised how allocating their limited funds can go a long long way to ensure a hassle-free retirement.