Business, 01.12.2020 01:00 19deleonl

Retirement planning. Use Worksheet 14.1 to assist Tara Easley with her retirement planning needs. She plans to retire in 15 years, and her current household expenditures run about $50,000 per year. Tara estimates that she’ll spend 80 percent of that amount in retirement. Her Social Security benefit is estimated at $15,000 per year, and she’ll receive $12,000 per year from her employer’s pension plan (both in today’s dollars). Additional assumptions include an inflation rate of 4 percent and a rate of return on retirement assets of 8 percent a year before retirement and 5 percent afterward. Use Worksheet 14.1 to calculate the required size of Tara’s retirement nest egg and the amount that she must save annually over the next 15 years to reach that goal.

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Retirement planning. Use Worksheet 14.1 to assist Tara Easley with her retirement planning needs. Sh...

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