MartinL_Retirement_Asgnmt

MartinL_Retirement_Asgnmt - Leanne Martin Goal Planning...

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Leanne Martin Goal Planning Professor Petrowski 3 April 2011 Retirement Assignment 1) Time Horizons a. At what age do you want to retire? 55 b. How many years are between now and when you retire? 24 c. How many years will you have in retirement? 30 2) Income Projection a. In today’s dollars, how much income do you want each year in retirement? $50,000 b. If you adjust for inflation, how much income will you need for the first year of retirement? $51,500 c. In order to have enough money for every year in retirement, how much money do you need at retirement? (Hint: Use the inflation-adjusted rate of return for this one.) $1,560,000 My current retirement goal is to retire when I am 55 and my husband will be 57. We hope this is realistic and we have prepared for it properly. We would prefer to have a minimum retirement income of $50,000. We own a home that we will probably reside in with low tax rate and no mortgage in the country. Our income will be to sustain our expenses and enjoyment. My goal is
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This note was uploaded on 10/17/2011 for the course PFP 3366 taught by Professor Peterpetrowski during the Spring '11 term at Texas Tech.

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MartinL_Retirement_Asgnmt - Leanne Martin Goal Planning...

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