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RETIREMENT DATA FOR PART 1 - QUESTIONS 1-7 Income Needed During Retirement $75,000 Number of Years in Retirement 25 years Number of Year Before Retirement

RETIREMENT DATA FOR PART 1 - QUESTIONS 1-7

Income Needed During Retirement

$75,000

Number of Years in Retirement

25 years

Number of Year Before Retirement

30 years

Rate of Return During Retirement

5%

Rate of Return Before Retirement

7%

Inflation Before and During Retirement

3%

1.What is the total amount of funds needed when entering retirement to provide their needed retirement income (in today's dollars)? [10 points]

2.What is the total amount of funds needed upon entering retirement (in tomorrow's dollars)? [10 points]

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