Savings & Investments - Current Balances Amounts that Hannah already has available in today's dollars: Employer savings plans: $40,000 IRAs and Keoghs: $5,000 Other investments: $10,000 Home equity (net of possible replacement with new home after retiring): $20,000 Savings & Investments - Current Contributions Hannah saves or invests $1,200 per year Other Income According to Hannah's most current Social Security statement, her estimated monthly Social Security retirement benefit in today's dollars is $1,600 Hannah's employer does not offer a pension plan. Hannah is enrolled in an employer-sponsored retirement plan Interest Factors - Future Value of a Single Amount - Interest Factors - Fu Years 2% 3% 4% 5% 10 1.2190 1.3439 1.4802 1.6289 11 1.2434 1.3842 1.5395 1.7103 12 1.2682 1.4258 1.6010 1.7959 13 1.2936 1.4685 1.6651 1.8856 14 1.3195 1.5126 1.7317 1.9799 15 1.3459 1.5580 1.8009 2.0789 16 1.3728 1.6047 1.8730 2.1829 17 1.4002 1.6528 1.9479 2.2920 18 1.4280 1.7024 2.0258 2.4066 19 1.4568 1.7535 2.1068 2.5270 20 1.4859 1.8061 2.1911 2.6533 30 1.8114 2.4273 B.2434 4.3219 40 2.2080 3.2620 4.8010 7.0400 nterest Factors -- Future Value of a Single Amount Interest Factors - Future Value of an Annuity In Years 2% 3% 4% 5% 10 10.9497 11.4639 12.0061 12.5779 11 12.1687 12.8078 13.4864 14.2068 12 13.4121 14.1920 15.0258 15.9171 13 14.6803 15.6178 16.6268 17.7130 14 15.9739 17.0863 18.2919 19.5986 15 17.2934 18.5989 20.0236 21.5786 16 18.6393 20.1569 21.8245 23.6575 17 20.0121 21.7616 23.6975 25.8404 18 21.4123 23.4144 25.6454 28.1324 19 22.8406 25.1169 27.6712 30.5390 20 24.2974 26.8704 29.7781 33.0660 30 40.5681 47.5754 56.0849 66.4389 40 60.4020 75.4013 95.0255 120.7998 Interest Factors - Future Value of a Single Amount Interest Factors - Future Value of an Annuity Interest Factors - Present Value of an Annuity Years 2% 39% 49 5% 10 8.9826 8.5302 8.1109 7.7217 11 9.7868 9.2526 8.3064 12 10.5753 9.9540 8.7605 9.3851 9.9856 8.8633 13 11.3484 10.6350 9.3936 14 12.1062 11.2961 10.5631 15 12.8493 11.9379 11.1184 9.8986 10.3797 10.8378 16 13.5777 12.5611 11.6523 17 14.2919 12.1657 11.2741 13.1661 13.7535 18 14.9920 12.6593 116896 19 15.6785 14.3238 13.1339 12.0853 20 16.3514 14.8775 13.5903 12.4622 Hannah Cuttner's Numbers 1. $ 2. $ 3. $ 4. $ 5. $ 6. 7 Annual income needed at retirement in today's dollars. Estimated Social Security retirement benefit in today's dollars. Estimated employer pension benefit in today's dollars. Total estimated retirement income from Social Security and employer pension in today's dollars. Additional income needed at retirement in today's dollars. Amount Hannah must have at retirement in today's dollars to receive additional annual Income in retirement Amount already available as savings and investments in today's dollarsi A. Employer savings plans (such as 401(K), SEP-IRA, profit sharing) B. IRAs and Keoghs C. Other investments, such as mutual funds, stocks, bonds, real estate, and other assets available for retirement D. Portion of current home equity considered savinas, net of cost to reolace current home with another home after retirement (optional) E Total: A through Future value of current savings/investments at time of retirement. Additional retirement savings and investments needed at time of retirement. Annual savings needed to reach amount in line 9) before retirement 11. Current annual contribution to savings and investment plans Additional amount of annual savings that Hannah needs to set aside in today's dollars to achieve retirement goal in line 1). $ $ 8. 9 5 10 $ 12