Question
Their monthly expenses : 7600 per month Age : 27 Retirement age : 65 Life expectancy : 95 Ryan : Salary - 85000 Defined benefit
Their monthly expenses : 7600 per month
Age : 27
Retirement age : 65
Life expectancy : 95
Ryan :
Salary - 85000
Defined benefit plan
Exployer : 2% per year of pension * highest salary * Number of years worked
Salary growth rate - 1.5% per year
TFSA current amount - 3000
Contributions - 500 per year
Rate of return on TFSA - 6% per year
Eva :
Salary - 90000
Defined contribution plan
Employee ; 2% and matching is 2% per year
Salary growth rate is 2% per year
Rate of return on pension account - 6% per year
RRSP current amount- 2000
Contributions - 900 per year
Rate of return on RRSP - 6% per year
Both have a house - 535000
They plan to buy a condo - 370000 and down scale in their retirement
Inflation - 3% per year
CPP average benefits yearly today - 8149 per year
OAS Average benefits yearly today - 8220 per year
Rate of return in retirement - 5% per year
Inflation rate in retirement -3% per year
Rate of return on investments - 6% per year
Real estate appreciation -5% per year
Selling commissions and closing costs on real estate -10%
WHAT IS THE NEAREST VALUE OF HOME EQUITY CONTRIBUTION TO THEIR RETIRMENT PLAN?
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Crypto Spotlight Series Ripple
Authors: Nott U.r. Keys
1st Edition
979-8853049147
