Gerontology Exam Practice Questions and
Answers
How many years will most Americans spend in retirement? - ANSWER-19 years
What is the No.1 Fear in Americans retiring? - ANSWER-Running out of money before you die
Financial advisors say you need what percentage of preretirement income to retire c...
What percentage of 65 year olds have annual incomes in excess of $50K? - ANSWER✔✔-Only 8%
What year was the social security act passed? - ANSWER✔✔-1935
Medicare - ANSWER✔✔-It was passed as a federally administered universal health insurance program
for over 65 year old and some disabled under 65.
At what age are you eligible to 80% of social security benefit? - ANSWER✔✔-Age 62
At age 65, you are eligible to what percntag of social security benefits? - ANSWER✔✔-100%
Eliglibe age for Social Securtiy will change to what for those retireing after 2025? - ANSWER✔✔-age 67
In 2010, what is the average benefit amount? - ANSWER✔✔-$1,175/month
In what year will social security benefits payments begin to exceed social security tax income? -
ANSWER✔✔-2017
Name the 7 phases of retirement. - ANSWER✔✔-1. Remote
2. Near
3. Honeymoon
4. Disenchantment
5. reorientation
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