1. A Middle Class professional is preparing for retirement. Which of the following statements is most likely to apply to them?

Group of answer choices

They should consider municipal bonds in their IRA Rollover during retirement to help create tax-free retirement income.

They do not need a formal retirement plan because they have always been frugal and plan to take as little as possible out of their investments anyway.

They will mostly likely be able to retire at age 62.

They will likely be most concerned with not outliving their assets, and so a life annuity is an investment vehicle that they should consider.

2. Which option(s) below is (are) most likely to be something that a married, middle-class taxpayer would need to consider including in their financial plan? (select all that apply)

Group of answer choices

Taking a 401(k) plan loan to fund an immediate need

Cashing out a small 401(k) plan balance ($10,000) when changing jobs.

Increasing their savings percentage to 15% or higher

Using a moderate inheritance to buy a deferred fixed annuity with a joint life rider