The 2011 report from the trustees of Social Security indicates that:
A) Social Security will be bankrupt by the year 2024
B) with no changes to the program, the Medicare Hospital Insurance trust fund will be exhausted in 2024
C) Baby Boomers are specifically responsible for bankrupting the system
D) with no changes to the program, all benefits will be fully-funded through the year 2018
B
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On average, how many characters should be in the subject line when using a mobile device?
A) None B) Less than 10 C) 10 to 20 D) 25 E) As many as needed to attract the interest of the audience
You just graduated and landed your first job in your new career
You remember that your favorite finance professor told you to begin the painless job of saving for retirement as soon as possible, so you decided to put away $2,000 at the end of each year in a Roth IRA. Your expected annual rate of return on the IRA is 7.5%. How much will you accumulate at retirement after 40 years of investing? (Note: this may assume that you are even retiring early.) A) $454,513 B) $94,426 C) $247,921 D) $1,088,632