Part 2-True or False-2 pts each-20 pts in total-Please type out the whole word

1. Social Security and most private pension plans will pay your basic expenses when you retire lessening the need to set any additional money aside.
2. One of the most common mistakes people make in retirement planning is that they are young and have plenty of time to begin saving.
3. A defined benefits plan specifies the benefits you will receive at retirement age based off of your total earnings and years on the job.
4. Because it is public and everyone pays into Social Security it is seen as the best investment option one can have if they are to properly plan for their retirement years.
5. An annuity while it guarantees payments over your lifetime is seen as more risky as its tied to the market and older or retired people typically want to take less financial risks at this stage of their life.
6. To take advantage of Tenancy by the Entity spouse must file their taxes separately and they are free to sell their joint property as they see fit without the consent or permission of the other.
7. Credit-Shelter trusts are the most common trusts that one might purchase due to its high dollar amount tax exemption.
8. Despite the name a living trust actually has no benefit to the trust holder while they are alive.
9. Inheritance taxes differ from estate taxes in the respect that the tax is only paid to the state and not the IRS.
10. All charitable donations are subject to federal tax laws since legally they are defined as a gift which puts it in similar standing with gift taxes.