1.Discuss reasonableness of your results for your annual and monthly savings rate (for monthly, just divide by 12)

2.Can you increase your savings rate or wait 5-10 more years to retire?

3.Could you retire sooner?

4.What has you learned from this lab?

5.Do you reach consensus about your comments for parts #1-3 above or are you divided? If you reach consensus, summarize this. If divided, summarize where you agree or disagree.

$9,999.59 $6,305.00 $7,938.32 $21,628.66 Spreadsheet 1: A B C D E F Assumed Calculate Future Years to Value of Annual annual Annual income retirement intereat rate $$ income desired now (use same number adjusted for 2% upon through out) annual inflation retirement (use 7%) e.g. Low Medium High $50,000 19 (Years) $16,000 28 $60,000 28 $100,000 28 Spreadsheet 2: STOCK Annual average growth Rate: Nper: (years) from above Pymt: zero PV: given Type: 0 Future Value (calc) BONDS $72,840.56 $27,856.39 $104,461.45 $174,102.42 SAVINGS 7% $1,040,579.41 7% $397,948.39 7% $1,492,306.46 7% $2,487,177.44 TOTAL 7% 5% 3% 28 0 28 0 28 0 $10,000 (assumes 75 companies in industry) 0 $66,488.38 $2,000 (2 bonds for $2,500 (amount per team) team) $14,500 0 0 0 $7,840.26 $5,719.82 $80,048.46 Spreadsheet 3: e.g., Low Medium High a) Retirement Goal $1,040,579.41 $397,948.39 $1,492,306.46 $2,487,177.44 b) Future Value of Stock, Bonds, and Savings $45,858.50 $80,048.46 $80,048.46 $80,048.46 c) Additional Funds needed upon retirement d) Annual savings required to build (d) $994,720.91 $317,899.93 $1,412,258.00 $2,407,128.98 $29,464.49 $4,638.97 $20,608.45 Retirement fund $$ goal (the Big Pot of money or the "nest egg". You will live on its interest. (D/E) $35,126.15