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for the average individual, which one of the following statements is most likely correct regarding retirement? multiple choice i need to save whatever i can, even if it's a little bit, to help cover my retirement costs. my costs of daily living will decrease significantly once i retire. i can only expect to live about ten years in retirement, so i don't need to save that much money. once i retire, all my medical bills will be paid by medicare. my employer's pension plan will provide sufficient income to meet all my retirement needs.

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BhavikaKukreja

i need to save whatever i can, even if it's a little bit, to help cover my retirement costs is most likely correct regarding retirement.

Retirement

Retirement is a stage in life when a person decides to quit employment permanently. In the United States and most other industrialized nations, the typical retirement age is 65, and many have some form of government pension or benefits system in place to augment retirees' salaries. In the United States, for example, the Social Security Administration (SSA) has been providing monthly Social Security income benefits to retirees since 1935.

When someone retires, they are no longer employed. In the United States, the full retirement age (the age at which an individual may claim full Social Security benefits) is 67, while the early retirement age is 62. (the earliest age someone can collect Social Security benefits). Traditionally, the retirement age was 65, and the majority of individuals lived to that age.

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