How did you do? You answered [WLQuiz_Total_Correct_Answers name=Yes You Can Retire Map Q5: Check Your Understanding: Making You id=10] out of [WLQuiz_Total_Questions name=Yes You Can Retire Map Q5: Check Your Understanding: Making You id=10] questions correctly. See the correct answers to each question below:

1) What rule has replaced the 4% rule?
Correct Answer: Convert 20 to 25% of your assets into an immediate annuity that will cover your fixed expenses.

2) What is an immediate annuity?
Correct Answer: An immediate annuity behaves like a paycheck that will last the rest of your life. You deposit a certain amount of money and it turns that deposit into monthly payments.

3) Once you’re in the withdrawal phase of retirement, how many years of expected income withdrawals should you have in safe money sources?
Correct Answer: Three to five years

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