Running head: RETIREMENT WORKSHEET PLANNINGRetirement Worksheet PlanStudents NameInstitutional Affiliation1RETIREMENT WORKSHEET PLANNING2Question 1:a)Based on the inputs used and the resultant calculation, the monthly retirementincome estimated before the 2.9% annual inflation rate and before taxes amount to $618.167after a period of 20 years.b)The estimated monthly retirement income calculated based on my inputs and after2.9% inflation and after taxes will be $525.44 for 20 years.Question 2:a)My current strategy has been calculated based on the input I used. The strategy canprovide $75480 after retiring and annual expenses of $15240. The savings are expected to runout when I attain the age of 78 years. Additionally, it has an estimated annual sum of $2844 perannum due to my contribution of $1350 per annum.b)Based on the results indicated, $1350 will not be sufficient to survive with. However,some changes can be done on my savings plan if I begin planning now on the way I am going tosave for my retirement. I shall contribute to the amount I have committed to and treat is anobligation that I pay first at the end of every month just like normal monthly bills. I will settle allmy outstanding owed debts and reduce the possibility of incurring additional debts. I will reducemy credit card expenditures, which possibly I may no longer use them in the near future. I havereduced my shopping to about four weeks now and I have been more caut ...
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