Develop a realistic retirement-planning simulation model for a Human Resources Manager include potential salary increases, promotions, contributions, and rates of return based on the actual funds you would invest.

401k Yearly Contribution: 1%

Personal Yearly Savings Contribution: $1,500

Pension Plan: 1.5% x Years of Service x Average Salary

Average Salary Increment/Year: 3% with a promotion every 5th year with an increase of 5% every 2 years

Current Age: 42

Retirement Age: 70

Starting Salary: $45,000

Retirement Planning Simulation

Year Age Salary Salary Increase Personal Savings Personal 401k Employer Match Total 401k Pension Final Balance

2021 42 $40,000 0 $1,500 $600 $600 $1,200 $1,250

2022 43

2023 44

2024 45

2025 46

2026 47

2027 48

2028 49

2029 50

2030 51

2031 52

2302 53

2033 54

2034 55

2035 56

2036 57

2037 58

2038 59

2039 60

2040 61

2041 62

2042 63

2043 64

2044 65

2045 66

2046 67

2047 68

2048 69

2049 70