I wanted to see if someone could review that I am imputing the info correctly.

I believe I am okay until Step 7 can you please review. The formula's used are ones my professor provided.

Dr. Michael Walden's Retirement Savings Procedure

• Step 1: I am currently 37 years old, and I plan on retiring at the age of 67. I will plan on being alive for 20 years in retirement. The reason I am choosing this age is because if I am still healthy, I will be able to enjoy the fruits of my labor and hopefully it leaves me time to relax and enjoy time with my family and friends. Financially, I thin retiring around this time would place me in a good position.
• Step 2: I estimate that I will need $40,000 for my retirement in order to have a sustainable life.I will use a 3% real interest rate, because I am assuming that my post-retirement investments will grow at a rate of 3% more than inflation.
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