You are advising Enrique who has just joined ASU as an Economics Professor. Enrique is 40 years old, single and make $200,000 per year gross salary. Previously he met with you and after analyzing his current financial situation you determined that he needs to save $40,000 per year to be well positioned for retirement. Now he has asked you to review his benefits at ASU and determine what mechanisms he should use for saving for retirement. Please complete 4 slides to answer the following questions:

1) Refer to the ASU benefits guide and explain to Enrique the retirement savings options at ASU (mandatory and voluntary). https://cfo.asu.edu/benefits-guide-retirement

2) Recommend a mandatory plan for Enrique and specify how much he will contribute to that plan

3) Project Enrique's benefits at age 70 using the ASRS benefit estimator https://www.azasrs.gov/content/estimate-your-benefitsLinks to an external site.

4) Recommend a voluntary plan(s) for Enrique and specify how much he will contribute to that plan and an investment option

5) Project Enrique's balance in the voluntary plan at age 70. Assume his contributions are made at the end of every month and he earns 6% interest.