irement Planning Assignment

a$)$ What is your client$$s desired income in retirement

b$)$ How many years will your clients be retired? Explain how you chose the life expectancy for your clines

c$)$ What rates of return will you use in your calculations $($Before retirement and after retirement$)?$ How did you determines these reates

d$)$ What sources of guaranteed income will your clients have in retirement and what will the estimated amounts be $($in today$$s Dollars$)?$ Explain your logic in making your estimates

e$)$ How much do they need to save by retirement to meet the gap between what you calculated in a and b$?$ How much would they need to save each month to reach this goal?

f$)$ What kind of accounts would you recommend your client financial situations? Why or hwy not

g$)$ If there is a shortfall in g$,$ how would you recommend they close the gap?

Carrie $($age $45)$ has been a teacher for the last $21$ years, Graham $($age$47)$ is a business executive. Carrie earns $$89,000$ per year and Graham earns $$235,000.$ Graham does not have a pension plan, but Carrie has a DBP$.$ They would like to retire in $17$ years, and they think they will need an income of at least $60\%$ of what they currently earn. They have two daughters, age $9$ and $11.$ Carrie and Graham would like to save $$50,000$ for each child$$s education. Carrie and Graham are not great at managing their finances but realize that they should pay off their debt before retirement. Carrie$$s car is fully paid for. Graham is leasing a luxury car. The current mortgage is at $4\%$ with $20$ years remaining on the amortization.