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please help with all questions Part I: RETIREMENT 1. Leah is looking forward to retirement and hopes to be able to retire (stop working) when

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help with all questions
Part I: RETIREMENT 1. Leah is looking forward to retirement and hopes to be able to retire (stop working) when she is 65, Her wage replacement ratio is estimated to be 80%. Given Leah's health and family history, a conservative estimate for her life expectancy is 90 years. Leah's Social Security benefit statement indicates that her Social Security retirement benefit (in todays dollars) is $18,000 per year. What amount of retirement funds will she need at retirement (draw timelines to make sure you are setting BGN to the correct setting (BGN or END)) in order to maintain her standard of living until age 90? Assume Leah can earn 5% on her investments for the years during retirement, and that the rate of inflation over the rest of her life averages 3% per year. a. Will Leah's current 401(k) savings goal of 890 of her current salary per year be enough to meet this goal? Assume matches her 401(k) contribution $0.50 on the $1.00, and that that can earn 6% return on her 401(k) account. If Leah's current savings goal is not enough, how much more does she need to save annually? b. that Leah continues to work for a firm that If Leah would need to save more than what is going into her 401(k) plan, what other retirement vehicles would you recommend (Traditional IRA, ROTH IRA taxable accounts)? Justify your recommendation. C. Part I: RETIREMENT 1. Leah is looking forward to retirement and hopes to be able to retire (stop working) when she is 65, Her wage replacement ratio is estimated to be 80%. Given Leah's health and family history, a conservative estimate for her life expectancy is 90 years. Leah's Social Security benefit statement indicates that her Social Security retirement benefit (in todays dollars) is $18,000 per year. What amount of retirement funds will she need at retirement (draw timelines to make sure you are setting BGN to the correct setting (BGN or END)) in order to maintain her standard of living until age 90? Assume Leah can earn 5% on her investments for the years during retirement, and that the rate of inflation over the rest of her life averages 3% per year. a. Will Leah's current 401(k) savings goal of 890 of her current salary per year be enough to meet this goal? Assume matches her 401(k) contribution $0.50 on the $1.00, and that that can earn 6% return on her 401(k) account. If Leah's current savings goal is not enough, how much more does she need to save annually? b. that Leah continues to work for a firm that If Leah would need to save more than what is going into her 401(k) plan, what other retirement vehicles would you recommend (Traditional IRA, ROTH IRA taxable accounts)? Justify your recommendation. C

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