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Required annuity payments Retirement income today $60,000 Years to retirement 10 Years of retirement 25 Inflation rate 5.00% Savings $100,000 Rate of return 8.00% Calculate
Required annuity payments | |||
Retirement income today | $60,000 | ||
Years to retirement | 10 | ||
Years of retirement | 25 | ||
Inflation rate | 5.00% | ||
Savings | $100,000 | ||
Rate of return | 8.00% | ||
Calculate value of savings in 10 years: | Formulas | ||
Savings at t = 10 | #N/A | ||
Calculate value of fixed retirement income in 10 years: | |||
Retirement income at t = 10 | #N/A | ||
Calculate value of 25 beginning-of-year retirement payments at t =10: | |||
Retirement payments at t = 10 | #N/A | ||
Calculate net amount needed at t = 10: | |||
Value of retirement payments | #N/A | ||
Value of savings | #N/A | ||
Net amount needed | #N/A | ||
Calculate annual savings needed for next 10 years: | |||
Annual savings needed for retirement | #N/A |
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