G Retirement Planning--Assume that you (select one group member as the example) plan to retire at the age given below and that current mortality tables suggest that you will live for 30 years after retirement. You desire a fixed retirement income that has the same purchasing power at retirement age that $X has today. Retirement income will begin the day of retirement with an entire year's income being withdrawn the first day of the year. You expect an annual inflation rate, p. You have the savings indicated in your retirement account and expect a return of r% per annum. How much must you save each year (with deposits made at the end of the year) to meet your retirement goal? retire age 67 $X $116,000 p 2.70% retire savings $41,667 9.525% r Current age 22 G Retirement Planning--Assume that you (select one group member as the example) plan to retire at the age given below and that current mortality tables suggest that you will live for 30 years after retirement. You desire a fixed retirement income that has the same purchasing power at retirement age that $X has today. Retirement income will begin the day of retirement with an entire year's income being withdrawn the first day of the year. You expect an annual inflation rate, p. You have the savings indicated in your retirement account and expect a return of r% per annum. How much must you save each year (with deposits made at the end of the year) to meet your retirement goal? retire age 67 $X $116,000 p 2.70% retire savings $41,667 9.525% r Current age 22