Question

What are situations that can cut into retirement funds?

Answer 1

Answer: 1) Accident 2) Health needs

Explanation:

First we should know the meaning of retirement fund

Retirement fund is a special type of fund in which people pay money for the time when they get retired so that they would get regular pension from it.

Possible situations that can cut into retirement funds are as follows:

1) Accidents : Uncertain accident of an individual can cut into retirement funds as he will have to move his funds towards his recovery first.

2) Health needs : If an individual is suffering from some curable or incurable disease, then all his money will automatically move towards this to cure himself or his belongings.

Answer 2

The situations that can cut into retirement funds are accidents, tax liabilities, health needs and Social Security not being properly funded. These are options that can be detrimental to creating a good retirement fund. I hope that this is the answer that has actually come to your desired help.