1) Go to the Government of Canada Financial Toolkit and compute the amount of retirement shortfall for the following scenario: https://itools-ioutils.fcac-acfc.gc.ca/yft-vof/eng/retirement-pensions-4-3.aspx https://www.canada.ca/content/dam/fcac-acfc/migration/yft/retirement-pensions-4-3-eng.pdf 10 marks Find the shortfall based on the following estimate of Polly's retirement planning information, if she is 30 years from retirement: She earns $75,000 per year in salary. She will receive the average monthly Canada Pension Plan (CPP) and Old Age Security (OAS) pension payment, as shown in the example. She does not qualify for the Guaranteed Income Supplement (GIS). She has an employer pension, that pays $35,000 per year She has savings that she expects to withdraw from annually as follows: Registered Retirement Savings Plan (RRSPs) of $7,500 and Tax-Free Savings Accounts (TFSAs) of $5,000 She expects to receive $325 monthly from her unsheltered savings. She has not yet reached the age (71), when she will have to remove her savings from his RRSPs. She has calculated her before tax needs in retirement as $5,500 per month. Copy and paste your completed calculation here: 1) Go to the Government of Canada Financial Toolkit and compute the amount of retirement shortfall for the following scenario: https://itools-ioutils.fcac-acfc.gc.ca/yft-vof/eng/retirement-pensions-4-3.aspx https://www.canada.ca/content/dam/fcac-acfc/migration/yft/retirement-pensions-4-3-eng.pdf 10 marks Find the shortfall based on the following estimate of Polly's retirement planning information, if she is 30 years from retirement: She earns $75,000 per year in salary. She will receive the average monthly Canada Pension Plan (CPP) and Old Age Security (OAS) pension payment, as shown in the example. She does not qualify for the Guaranteed Income Supplement (GIS). She has an employer pension, that pays $35,000 per year She has savings that she expects to withdraw from annually as follows: Registered Retirement Savings Plan (RRSPs) of $7,500 and Tax-Free Savings Accounts (TFSAs) of $5,000 She expects to receive $325 monthly from her unsheltered savings. She has not yet reached the age (71), when she will have to remove her savings from his RRSPs. She has calculated her before tax needs in retirement as $5,500 per month. Copy and paste your completed calculation here