HS 326 Practice Questions - HS 326 Planning For Retirement Needs (ChFC) Exam

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In a retirement income needs analysis, a planner reduces the client's pre-retirement gross income to estimate retirement spending. What is the primary rationale for using a wage replacement ratio below 100%?

Inflation is expected to be zero during retirement Certain expenses such as payroll taxes, retirement-plan savings, and work-related costs typically cease or decline in retirement Social Security replaces 100% of pre-retirement income for most workers Required minimum distributions automatically cover all retirement spending

Correct Answer:

Certain expenses such as payroll taxes, retirement-plan savings, and work-related costs typically cease or decline in retirement

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