Question

true or false: social security will likely look just like it does right now when you get ready to retire.
○ true
○ false
question 10 2.27 pts
to qualify for social security benefits, your income has to be at least earned with ____ credits total in your lifetime to qualify.
○ 40
○ 10
○ 1
○ 4
question 11 2.27 pts
true or false: with a traditional ira and a roth ira, you can make withdrawals at any time with no penalties.
○ true
○ false

Explanation:

First Question (TRUE or FALSE: Social Security will likely look just like it does right now when you get ready to retire.)

Social Security is subject to changes due to factors like demographic shifts (aging population, changing workforce), economic conditions, and policy adjustments. Projections show that without reforms, the Social Security trust fund may face shortfalls, leading to potential changes in benefits, eligibility, or funding mechanisms. So it's unlikely to remain exactly the same.

To qualify for Social Security retirement benefits, you generally need 40 credits. You earn credits based on your work and earnings (up to 4 per year). So the correct number of credits is 40.

Traditional and Roth IRAs have rules about withdrawals. For traditional IRAs, withdrawals before age 59½ usually have penalties (except for certain exceptions). Roth IRAs also have penalties for early withdrawals (before 5 years and age 59½ in most cases, with some exceptions). So you can't withdraw at any time without penalties.

Answer:

False

Question 10 (To qualify for Social Security benefits, your income has to be at least earned with ____ credits total in your lifetime to qualify.)