Determine the presumed retirement age

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Reference no: EM133814162

Case: The purpose of this assignment is to create a personal retirement plan that addresses basic needs, a savings strategy, and income sources while anticipating issues that negatively impact planning for retirement.

In 150-250 words, create a summary of a retirement plan. Include the following:

Question 1: Determine the presumed retirement age and find the average life expectancy for someone the age of 23 and female. Calculate the years you believe you will have as a retired person. Now reevaluate the assumptions, considering that you may live longer than the average. How many years might you have in retirement? Get Assignment Help Now!

Question 2: Develop a preliminary retirement savings strategy that outlines how much you need to contribute initially and annually to your chosen retirement accounts to reach your goals. What retirement savings or investing options will you need to consider to add?

Question 3: Based on current assumptions, what sources of income will you anticipate having in retirement (e.g., Social Security, pensions, rental income)?

Question 4: Discuss what expenses will likely be higher during your retirement than now. Include two barriers that often keep people from saving for retirement and how you plan to overcome these barriers in your own retirement planning.

Reference no: EM133814162

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