Retirement Readiness

1. What is the maximum amount that an individual (age 50 or below) can contribute to a Traditional or Roth IRA in 2020?
$3,000
$5,000
$4,000
$6,000
2. According to a recent First Citizens customer survey, approximately what percent of First Citizens Bank clients age 55 or older would like to receive investment or retirement advice from us?
8%
11%
15%
23%
3. As a rule of thumb, what percentage of your pre-tax income should you be saving for retirement?
10%
15%
20%
25%
4. According to the 2019 Bureau of Labor Statistics, what percentage of Americans (pre-retirees) age 45-59 perceive that they are on track with their retirement savings?
42%
52%
62%
72%
5. Which of the following items represents a threat to sound retirement income planning:
A. Heavy reliance on Social Security funding
B. Rising Healthcare Costs
C. Inflation
D. Future tax Rates
E. All the above
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