What factor contributes to the increasing need for retirement funds? Option: "Life Expectancy", "Rising Healthcare Costs", "Improving Lifestyle", "Poor Planning"

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What factor contributes to the increasing need for retirement funds?

"Life Expectancy"

"Rising Healthcare Costs"

"Improving Lifestyle"

"Poor Planning"

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Why is considering life expectancy crucial in retirement planning?

"To choose the most profitable investment options"

"To determine the optimal retirement age"

"To estimate the total amount of savings required"

"To predict future healthcare costs accurately"

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What factor should individuals consider when estimating their retirement expenses?

"Inherited assets"

"Past investment performance"

"Current income level"

"Potential lifestyle changes"

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How can individuals mitigate the impact of rising healthcare costs during retirement?

"By investing in healthcare-specific mutual funds"

"By relying solely on government-funded healthcare"

"By minimizing healthcare needs through lifestyle changes"

"By factoring healthcare expenses into retirement planning"

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When setting retirement savings goals, which factor may have less direct impact on the overall planning?

Number of children, as individual financial planning varies

Hobbies and interests to factor in leisure and entertainment costs

Current age and years until retirement to assess savings timeline

Anticipated lifestyle expenses during retirement to determine income needs

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What is the primary reason people might underestimate their future financial needs?

"Improving Lifestyle"

"Life Expectancy"

"Rising Healthcare Costs"

"Poor Planning"