Retirement Quiz
Test how much you know about the fastest rising senior expenses.
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1. Which senior budget category has grown the fastest over the past 13 years?
Healthcare
Housing
Transportation
2. The only senior cost item growing faster than Medicare premiums is petroleum products.
True
False
3. How much does a retiring 65-year old couple need to have saved to meet healthcare expenses over their retirement?
$420,000
$320,000
$220,000
4. Which state has the lowest cost-of-living for seniors trying to stretch retirement savings?
Vermont
Nebraska
Oklahoma
5. Match the following expenses with the best description:
"Budget Killer" - price growing faster than your COLA
"Budget Holder" - price growing the same pace as your COLA
"Budget Saver" - price growing more slowly than your COLA
Prescription drugs
Budget Killer
Budget Holder
Budget Saver
Tube of toothpaste
Budget Killer
Budget Holder
Budget Saver
Home heating oil
Budget Killer
Budget Holder
Budget Saver
Telephone, land line
Budget Killer
Budget Holder
Budget Saver
Athletic shoes
Budget Killer
Budget Holder
Budget Saver
New car
Budget Killer
Budget Holder
Budget Saver
Medicare Part B premiums
Budget Killer
Budget Holder
Budget Saver
1 dozen eggs
Budget Killer
Budget Holder
Budget Saver
Ground chuck
Budget Killer
Budget Holder
Budget Saver
Homeowners insurance
Budget Killer
Budget Holder
Budget Saver
6. How much have total monthly expenses increased for seniors this year?
$0-$39
$39.10-$79
$79.10-$119
More than $119
7. What portion of Social Security benefits do seniors spend on healthcare?
Under 10%
11% to 33%
34% to 50%
8. What portion of Social Security benefits will seniors need for healthcare in the future?
25%
40%
80%
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