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I Want Everything in A Word File and Remember To Cite When You Take Something From The Internet

The document provides instructions for calculating a retirement savings plan including estimating retirement income needs, determining retirement accounts to use, calculating contribution amounts and years of contributions, estimating retirement age and life expectancy, projecting withdrawal amounts in today's and future dollars, and ensuring the plan supports lifestyle needs both before and during retirement. Key assumptions to include are an inflation rate and time value of money concepts. Suggested online tools for calculating life expectancy and historical inflation rates are also provided.

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21 views

I Want Everything in A Word File and Remember To Cite When You Take Something From The Internet

The document provides instructions for calculating a retirement savings plan including estimating retirement income needs, determining retirement accounts to use, calculating contribution amounts and years of contributions, estimating retirement age and life expectancy, projecting withdrawal amounts in today's and future dollars, and ensuring the plan supports lifestyle needs both before and during retirement. Key assumptions to include are an inflation rate and time value of money concepts. Suggested online tools for calculating life expectancy and historical inflation rates are also provided.

Uploaded by

Anisa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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i want everything in a word file and remember to cite when you take something from

the internet

Calculate how much money you will need to save for retirement to live at a life style that will
be acceptable to you.
What type of retirement account(s) do you hope to use? Explain why.
How much will you contribute (monthly or annually) to each account. How? Keep in mind the
maximum allowable allocation to different accounts.
What assumptions did you use in your calculations? (Inflation, rates of return, matching,
etc.) Explain why you used each.
How many years to you plan on contributing to your retirement account? Specify which
years, and why.
How much do you hope to have saved before you retire?
Calculate your life expectancy using an online calculator. (See links below.)
At what age do you plan on retiring? How long will you draw on your retirement funds?
How much do you expect to withdraw annually or monthly when you retire? How much is
this in todays dollars vs future dollars?
Do you expect to receive any additional funds for retirement? If so, from where?
Explain how/why this retirement saving plan will be sufficient to support your lifestyle both
now and at retirement.
Notes:
Make sure you include an inflation rate and TVM concepts in your calculations. You can use
a financial calculator, online calculators, or either or both of the retirement Excel files posted
in Canvas.
Life expectancy calculators:
http://gosset.wharton.upenn.edu/mortality/perl/CalcForm.html (Links to an external site.)
http://www.ssa.gov/planners/lifeexpectancy.htm (Links to an external site.)
https://www.livingto100.com/calculator (Links to an external site.)
http://www.lifespancalc.com (Links to an external site.).

Other links:
http://inflationdata.com/Inflation/Inflation_Rate/Long_Term_Inflation.asp (Links to an
external site.)
http://www.usinflationcalculator.com/inflation/historical-inflation-rates/ (Links to an external
site.)
http://blog.petetheplanner.com/what-rate-of-return-should-you-expect-on-your-investments
(Links to an external site.)
http://www.cnbc.com/id/46464842# (Links to an external site.).
http://www.ssa.gov/planners/benefitcalculators.htm (Links to an external site.)

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