Introductory data:Julia Gupta is 40 years old and has never married. She wants to retire at age 62 with an 80% wage replacement ratio. Julia currently earns $100,000 as an employee and has managed to save $100,000 toward her retirement goal (including investment assets and cash equivalents). She is currently saving $5,000 per year in her 401(k) plan. Her employers plan calls for a 50% match for contributions.Financial goal:Julias primary goal is to retire at age 62 with an 80% wage replacement, including Social Security, projected to be $30,000 in todays dollars at normal retirement age of 67. She wants to plan for a life expectancy to age 95.

Economic and investment information

1. General inflation is expected to average 3.0% annually for the foreseeable future.
2. Julias expected investment portfolio rate of return is 8.5%.
3. Julias marginal income tax rate is 25%.
4. Social Security Tax is 7.65%.

Requirements:Please submit no more than five pages of the analysis, including references, tables, and graphs. In your analysis, please include as detailed as possible, including calculation steps. One submission per group. Please note: If any groups/individuals have the same report, both will earn zero credit. The analyses depends on your assumptions, so there are no absolutely right answers. Please design a financial plan to meet her financial goal.Do you think ($5,000 saving + employers contribution) matches her goal

• If not, how to make adjustment? Please consider the following scenarios:
  • Should she save more per year before retirement?
  • Should she delay retirement?