Bob's Retirement.xlsx - Current Salary Retirement Fund...

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Per year Current Salary $95,000 Retirement Fund $9,500 (10% of current salary) Research $21,111 Consulting ($10000-$20000) (Assume) $15000 Max Possible Current Retirement $7,500 $10,000 Current Retirement $137,000 Purchase price of home $140,000 Equity $40,000 Rainy day fund $50,000 Daughter tuition fee $24,000 Life insurance policy $580,000 Current Income $131,111 Current Holdings $137,000 Current Assets $254,000 Retirement Fund $340,000 (Balance 20 years of working) Retirement Age 65 (Assumption) Return on Savings and Asset 5% (Assumption) Salary Increase in % 4% (Assumption) Income needs 75% (Out of current income - Assumption)
Age Salary Retirement Fund Personal Retirement Interest on Assets 46 $98,800 $9,880.0 $7,500 $11,500 47 $102,752 $10,275.2 $7,500 $12,075 48 $106,862 $10,686.2 $7,500 $12,679 49 $111,137 $11,113.7 $7,500 #NAME? 50 $115,582 $11,558.2 $7,500 #NAME? 51 $120,205 $12,020.5 $7,500 #NAME? 52 $125,014 $12,501.4 $7,500 #NAME? 53 $130,014 $13,001.4 $7,500 #NAME? 54 $135,215 $13,521.5 $7,500 #NAME? 55 $140,623 $14,062.3 $7,500 #NAME? 56 $146,248 $14,624.8 $7,500 #NAME? 57 $152,098 $15,209.8 $7,500 #NAME? 58 $158,182 $15,818.2 $7,500 #NAME? 59 $164,509 $16,450.9 $7,500 #NAME? 60 $171,090 $17,109.0 $7,500 #NAME? 61 $177,933 $17,793.3 $7,500 #NAME? 62 $185,051 $18,505.1 $7,500 #NAME? 63 $192,453 $19,245.3 $7,500 #NAME? 64 $200,151 $20,015.1 $7,500 #NAME? 65 $208,157 $20,815.7 $7,500 #NAME? Total $294,207.4 $150,000 #NAME? 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90
(The current savings would be enough to live comfortably upto 15 years after retirement; i.e.,

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