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1) What are the major elements of a retirement plan? Please list and define each element and its impact on the plan. 2) Jerry is

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1) What are the major elements of a retirement plan? Please list and define each element and its impact on the plan. 2) Jerry is currently 35 years old. He is planning to retire at age 60 . His current income is $100,000. He wants 80 percent of that income at retirement. He is currently earning 7 percent on his investments. The current rate of inflation is 3 percent. Jerry's life expectancy is age 85 . He does not have any other sources of retirement income

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