Create an estimated retirement budget using a compound interest inflation rate of 3%. Estimate a retirement date based upon your projected retirement date 2060. Using the monthly spending projections, you estimated in number 3.0 above, redraw your budget (both inflows and outflows) with the adjustments for inflation at 3% compounded annually to the year you plan to retire. (Show your formula or calculator calculations)

Reflect on your findings regarding the impact on inflation as it relates to your income requirements and as it relates to you projected expenditures. (1-paragraph minimum)

Comment on which expenditure categories may increase/decrease upon your retirement. (One paragraph minimum)

Reflect on the effect your projected expenditures on you retirement planning?