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Unformatted text preview: $2,378 L. Inflation adjustment factor, based on anticipated inflation rate of ____% 3.00% Years until retirement 40 FVIF: as found in Appendix A = 3.262 M. Equals: Inflation-adjusted shortfall (line K x line L) $7,756 Step 4: Calculate the Total Funds Needed at Retirement to Cover This Shortfall Over the Number of Years You Expect to Be Retired N. Expected annual return on your investment after retirement 6.50% Inflation adjusted return 3.50% Number of years after retirement 25 PVIFA: as found in Appendix D = 16.482 O. Funds needed at retirement to finance the shortfall = $127,837 Step 5: Determine How Much You Must Save Annually Between Now and Retirement to Cover the Shortfall P. Expected annual return on your investment before retirement 8.00% Years until retirement 40 FVIFA: as found in Appendix C = 259.057 V. Amount that must be saved = $493 WORKSHEET FOR FUNDING YOUR RETIREMENT NEEDS...
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This note was uploaded on 07/31/2011 for the course NUTRITION 101 taught by Professor Zahora during the Spring '11 term at Gardner-Webb.
- Spring '11