6. Projecting retirement income and the investment needs worksheet Estimating Future Retirement Needs Li and Courtney know that you are completing a personal finance course and that you understand how to complete a Projecting Retirement Income and Investment Needs worksheet. They have gathered the following information for you: . . Both Li and Courtney are 30 years old and plan to retire when they reach age 65. Li will have worked at Target for his entire career and will have an annual pension amount of $15,625. Courtney will have worked at General Electric for her entire career and will have an annual pension amount of $13,000. Their estimated level of annual current household . expenditures is $67,500. They estimate that they will need 80% in retirement. . They will receive $1,556 per month of Social Security income . Based on their Internet research, they will use 6% as the average annual inflation rate for retirement calculations. and no other sources of income (except pension). . They talked with friends and believe that 8% is a realistic After contacting their savings and loan, they found out a savings account is currently paying 5%. rate of return on their investments once they retire