Up Load the salary calculations in a table for the 1st and 2nd jobs.

Now you are ready to grow the salary contributions along with the ROTH IRA.

John Doe, a 23 years young newly graduated engineer just got a job in a major engineering firm. Human resources told him that he could join the company's 401K Plan. If he contributes 10% of his gross annual salary then the company will match it with another 5% (50 Cents on a \$). He is paid $35 per hour and he gets a 2.5% raise every other year, then after 20 years of work he is laid off. During the Ages 23-42 the Roth IRA contribution is $6500 per year, if he has excess money and also wants to contribute. He finds another job with an annual salary of $120000 per year and works till retirement (age 43-67). The new company doesn't have a retirement plan and he can only save in the new announced Personal IRA $15000 per year. During second half of his career the salary increase is only 3% every five years and there are no medical benefits either. John was assuming that by the retirement time he has paid off his mortgage, doesn't have major consumer debt and based on today's buying power he only needs $5000 to live well. For this project you are required to examine: 1. His NEED during retirement if average inflation rate is 4.5% ? 2. His life expectancy is 85 years, he doesn't want to be left behind in Las Vegas if he lives longer. 3. How much does he need to retire @ ages 42 and 67 ? 4. If he invests in Roth IRA account at what age he could take early retirement? - You may go to Morningstar.com to research and use the funds that their performance is about 10% or more and site the source. - Must use Excel to show work. - Project is due November 10th. (You are required to show all your work and make valid assumptions) John Doe, a 23 years young newly graduated engineer just got a job in a major engineering firm. Human resources told him that he could join the company's 401K Plan. If he contributes 10% of his gross annual salary then the company will match it with another 5% (50 Cents on a \$). He is paid $35 per hour and he gets a 2.5% raise every other year, then after 20 years of work he is laid off. During the Ages 23-42 the Roth IRA contribution is $6500 per year, if he has excess money and also wants to contribute. He finds another job with an annual salary of $120000 per year and works till retirement (age 43-67). The new company doesn't have a retirement plan and he can only save in the new announced Personal IRA $15000 per year. During second half of his career the salary increase is only 3% every five years and there are no medical benefits either. John was assuming that by the retirement time he has paid off his mortgage, doesn't have major consumer debt and based on today's buying power he only needs $5000 to live well. For this project you are required to examine: 1. His NEED during retirement if average inflation rate is 4.5% ? 2. His life expectancy is 85 years, he doesn't want to be left behind in Las Vegas if he lives longer. 3. How much does he need to retire @ ages 42 and 67 ? 4. If he invests in Roth IRA account at what age he could take early retirement? - You may go to Morningstar.com to research and use the funds that their performance is about 10% or more and site the source. - Must use Excel to show work. - Project is due November 10th. (You are required to show all your work and make valid assumptions)