Question

What are four common sources of retirement income?

a) Social Security
b) Pension plans
c) Savings and investments
d) Inheritance

Answer 1

Four common sources of retirement income are Social Security, pension plans, savings and investments, and inheritance.

Step-by-step explanation:

Four common sources of retirement income are:

1. Social Security: This is a government program that provides income to retirees based on their work history and contributions into the program.
2. Pension plans: These are retirement plans provided by employers that guarantee a fixed income to retirees based on their years of service and salary.
3. Savings and investments: Individuals can save money in various ways, such as through savings accounts, investments in stocks and bonds, and annuities.
4. Inheritance: Some individuals receive retirement income through inheritance, which is money or assets that are passed down to them.