$1)$Your current annual living expenditures are $$77,624.$ You estimate that at retirement in $30$ years, you will need $78\%$ of that, in today's dollars. You anticipate that your tax rate in retirement will be $16\%.$

You estimate that you will receive annual social security benefits of $$28,575$ per year, and plan to keep your rental property that produces annual net income of $$10,255,$ both in today's dollars.

What is the inflation$-$adjusted shortfall in your retirement income, if you expect an average $2\mathrm{.}9\%$ annual inflation?

$2)$ After some calculations, you realize that your inflation$-$adjusted retirement income shortfall is $$43,100$ per year.

You anticipate that once you retire, you will be retired for $34$ years. How much at a minimum should you have saved at the time of your retirement, if you estimate that your $60/40$ equity$/$debt retirement portfolio will have a real $($net of inflation$)$ return of $5\mathrm{.}97\%$ on average?

For simplicity, assume that once you retire you will be withdrawing the necessary amount from your portfolio at the end of each year. $3)$ Based on the framework in the previous two problems, you have found that you need to have a total of $$1,599,339$ in savings at the time you retire, in $39$ years. You currently only have $$23,422$ saved up in your retirement accounts.

If you anticipate that your $80/20$ investment portfolio will return an average of $11\%$ per year, how much extra must you save every year to reach your goal? Assume that you'll be saving the extra amount by the end of each year.