1. Connie was born in 1968. she is an engineering consultant and earns more than $90,000 per...

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1. Connie was born in 1968. she is an engineering consultant and earns more than $90,000 per year. She saves very little money because she prefers to spend It on a luxurious apartment, clothes, travel and exclusive clubs. The thought of saving for her old age has never entered Connle's head. She believes that the government will provide for her when she is too old to work, Just as the Old Age Security system provided for her parents. Unless Connie uses the services of a good financial planner or starts saving hard and fast, she is in for an unpleasant surprise when she becomes too old to work. All of the following are true, EXCEPT:

a. Connie is a member of the bab boom.

b. Connie grew up in an era when the elderly were enjoying the benefits of actions by Prime Minister Lester Pearson who, in 1966, lowered the OAS basic eligibility to age 65.

c. Lester Pearson introduced the Canada Pension Plan in 1966.

d.The population of Canada is aging.

2. life expectancies, defined as the average age to which one can expect to live, have been changing over time. All of the following statements about total life expectancies in Canada are true, EXCEPT:

a. Total life expectancies are expected to increase by 2 to 3 years as every decade passes.

b. The total life expectancy of a male currently aged 50 is higher than the total life expectancy of a male currently aged 60.

c. Women have a greater total life expectancy than men.

d. Increased total life expectancy for men and women will result in longer periods of retirement.

3. Collin is the same age as his wife. He is trying to estimate his probable length of retirement. However, he does not know much about life expectancy. Which of the following statements is TRUE?

a. He is likely to live longer than his wife.

b. The probable length of his retirement increases as he ages.

c. Collin is unlikely to live longer than his own grandfather or father did.

d. Life expectancy statistics change so often that they cannot be relied upon to estimate the length of retirement.

4. Amit's parents have been retired for several years and have found the OAS and Canada Pension Plan, combined with a few investments and mutual funds, to provide an adequate income. Amit believes that his parent's should serve as a model for their children, who are currently saving for their own retirements. As Amit's financial pl , you could use all of the following facts about retirement-related trends to help Amit put the future in perspective, EXCEPT:

a. In the year 2031, it is predicted that there will be only 2.6 workers to make CPP contributions for every eligible recipient.

b. In the 1960s. there were six to seven CPP contributors for every CPP recipient.

c. The life expectancy of an adult male aged 60 is about 19 years.

d. The number of people of normal retirement age will almost double over the next 30 years, while the active labour force will remain relatively constant.