Jack is getting ready to retire. He has a salary of $100,000 and is saving 15% annually in his 401(k) plan and he just made his last principal and interest monthly payment on his mortgage of $1,900. His home is now debt free. What would you recommend regarding a wage replacement ratio, assuming he wants to maintain his lifestyle? Hint: Don't forget FICA of 7.65%

88%.

77%.

55%.

50%.