Name YOUR PERSONAL RETIREMENT FINANCIAL PLAN: (Use 8% return for all time value calculations) Age at: GRADUATION/JOB RETIREMENT So, how many years will you work? END RETIREMENT So, how many years will you live in retirement? Draw your 2 timelines: Working years: Retirement years of $1, I antic I will need During my retirement years, and based dollars per year to cover living expenses. To reughly cover inflation issues, take your number above and triple it (multiply by 3) money must you have invested as of your retirement date? Based on your calculated needs above, how much (Find the PV of the required annuity) If you started saving upon graduation/job to reach that goal, how mach money would you have to save each ensure your financial retirement goals will be met? (Find the required annuity. Remember to use 8%) Suppose that as much as you would like to, you just cannot start saving for retirement so soon after graduation - so you put it off for 10 years and then start saving... What is the NEW amount you must save every month in order to reach your financial retirement goals? (Same calculation as above, but your number of years is 10 less, since you put off investing!)