Please analyze a household balance sheet and some simple retirement plans and include the excel commands.

You$$ve landed your first job after graduating. You earn $$48,000$ per year, an amount that you expect will grow by $2\mathrm{.}5\%$ per year on average.

Please upload both this document $($with your answers filled in$)$ and your spreadsheet to Canvas.

Part $1$: Portfolio Allocation

Answer the following questions, directly in this file, using the year$-0$ balance sheet provided on Canvas.

$1.$ What is your net worth? $\_\_\_\_\_\_\_\_\_\_\_\_$

$2.$ What is your percent allocation in cash, bonds and stock? Count $$savings$$ as a financial asset, but not your checking account.

$$ Cash: $\_\_\_\_\_\_\_\_\_\_\_\_$

$$ Bonds: $\_\_\_\_\_\_\_\_\_\_\_\_$

$$ Stock: $\_\_\_\_\_\_\_\_\_\_\_\_$

$3.$ Given that you want to retire in $48$ years, is this allocation recommended? Why or why not? How would you change it$?$

$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

$4.$ What is the expected return on your portfolio? $\_\_\_\_\_\_\_\_\_\_\_\_\_$

$5.$ What will your income be in the year you retire? $\_\_\_\_\_\_\_\_\_\_\_\_\_$