Please answer questions below in 1 to 2 sentences.

1. Assume you have contributed to your 401(k) for 30 years and have an account accumulation of $800,000. What annual income would this yield for the remainder of your lifetime when you retire next month as age 65? What are your assumptions?
2. What is a Roth IRA and how does it differ from an IRA? Checkhttp://www.ira.com/for the answers and be prepared to discuss why and when you would select one or the other.
3. With respect to retirement planning, we must remember there are three legs to the stool and one is Social Security. How much can you expect to receive from Social Security? Checkhttp://www.ssa.gov/and go to Benefit Calculators. Then calculate your hypothetical Social Security benefit at the appropriate retirement age. Also, be prepared to discuss average indexed monthly earnings, primary insurance amounts, bend points, and monthly benefit amounts.
4. You are a small employer with 85 employees. Recruiting and retention factors lead you to conclude that you should offer some type of retirement plan for your employees. Identify and briefly describe an optimal plan that would best support your HR objectives and minimize your administrative expense.
5. Your friend indicates he has opened an IRA account and funded it with tax-free municipal bonds. Is this a good strategy? Explain. What should his investment strategy be with respect to an IRA? Would it be different for a Roth IRA? What are the adjusted gross income limits for regular and Roth IRAs? (Seehttp://www.dol.gov.)
6. Your older friend is considering retirement and wants to know if and when she can get the green light to notify her employer. Go tohttp://www.choosetosave.org/ballpark/and select Interactive Ballpark. Make two sets of assumptions for each category. Describe what you did and discuss the different results.