100%(6)6 out of 6 people found this document helpful
This preview shows page 1 - 4 out of 10 pages.
Bob Davidson is a 46 - year - old, married, tenured professor at a small New England college. His salary is currently $116,000. His employer contributes an amount equal to 10 percent of his salary to a retirement fund, and Bob himself has been contributing $9,500 a year. The current value of his retirement fund is $167,000. Bob would like to know whether his current level of retirement savings is adequate.Retirement Planning