• You are 25 years old and plan to retire at age 65
• Your starting salary is $60,000 per year
• You expect to receive annual increases of 3%
• Assume all 401k contributions are done once per year on January 1
• You have the following funds available to you in your 401k plan:
  1. Vanguard Total Stock Market Index VTSAX
  2. Vanguard Total International Stock VTIAX
  3. Vanguard Total Bond VBTLX
  4. Vanguard Total Global Bond VGCIX

1. Assume that you allocate 100% to VTSAX until age 40. Then you allocate 50% to VTSAX and 50% to VBTLX until age 65. Based on historical performance for eacxh fund (use Inception to Date), what will be your balance at age 65? Assume no company match.