1. Pick a state you might want to retire in and determine the current savings number for someone retiring in that state. State Savings Required (from website) Texas 765,000 2. Using what we've learned this week, calculate the annual income that amount of savings would generate for the number of years you will be retired. (Yes, you will have to estimate your retirement age, how long you will live, and a rate of return on the money while it is invested.) Enter your answer as Projected Retirement Income and your assumptions and your financial calculator entries below. Estimated length of my retirement. (age at death minus retirement age) Financial Calculator Entries 18 years Present Value Estimated Rate of return on Investments Payments 7.8% Future Value Projected Annual Retirement Income Annual Rate Periods All calculations for steps 2-5 should assume annual compounding