Retirement Inputs Retirement Outputs

Work Information Raw Dollar Value

Starting Salary $$50,000$ Retirement Age $401$k Balance AT Savings Balance Retirement Income Present Value Income

Annial raise $3\%40$ $$335,330\mathrm{.}649520225$ $$93,401\mathrm{.}6158362287$ $$15,005\mathrm{.}6292874759$ $$10,300\mathrm{.}3260017308$

$401$k Match $5\%55$ $$1,277,691\mathrm{.}84241464$ $$324,814\mathrm{.}955862719$ $$56,087\mathrm{.}7379397076$

Year Starting Work $202370$ $$4,074,381\mathrm{.}84470917$ $$935,749\mathrm{.}883752286$ $$175,354\mathrm{.}610496151$

Year of Birth $2002$

Saving Choices

$401$k Savings $8\%$ Taxes: Applying taxes will reduce the yearly salary total and require a recalculation of $401$k contributions, the related company Match, and the AT savings. This will reduce the overall retirement income

After Tax Savings $4\%$ Social Security: Applying Social Security will increase the salary total starting $($optionally$)$ at $62,$ and definitely at $66.$ If retired before $62$ or $66,$ the social security would then represent the salary total

Assumptions

$401$k Growth $7\%$

AT Savings Growth $6\%$

Inflation $2\%$

Safe withdrawal Rate $3\mathrm{.}50\%$

find the present value excep formula where age $55$ equals $28606$ and age $70$ equals $66425$