Early Retirement 2 Cents

Early Retirement 2 Cents

12th Grade

8 Qs

quiz-placeholder

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Early Retirement 2 Cents

Early Retirement 2 Cents

Assessment

Quiz

Financial Education

12th Grade

Medium

Created by

Eric Thorson

Used 2+ times

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the acronym 'FIRE' stand for in the context of early retirement?

Frugal Income; Retirement Essentials

Financial Investment; Retirement Expectations

Financial Independence; Retire Early

Fiscal Independence; Retirement Endowment

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the 4% rule, how much of your total savings should your yearly expenses stay below in order to live off them indefinitely?

8%

6%

4%

2%

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary method used by early-retirees to build their savings?

Investing in luxury items

Investing in stock-index funds

Investing in real estate

Stashing cash into a bank account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the recommended savings rate for early-retirees in order to retire ahead of schedule?

50-75%

10-15%

25-30%

80-90%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the amount a person would need in the bank to be financially independent if their annual spending needs are $40,000?

$1,000,000

$1,400,000

$800,000

$1,200,000

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary concept proposed by Vicki Robin in the book 'Your Money or Your Life'?

Extreme frugality for a few years to achieve financial independence

Investing in high-risk stocks for early retirement

Living a luxurious lifestyle to retire early

Relying on inheritance for financial independence

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary hurdle in achieving early retirement according to the text?

Finding a fulfilling job

Overcoming health issues

Building a large social network

Finances

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the recommended annual withdrawal rate of your money in retirement according to the 4% rule?

8%

4%

2%

6%