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Case Study #1

Data:

Kevin and Whitney, both age thirty-five, recently reviewed their future retirement income and expense projection. They hope to retire in twenty-five years. They determined that they would have a retirement income of $25,000 each year in today’s dollars before-tax ($10,000 from Social Security and $15,000 from their savings), but they would actually need $67,500 before-tax in retirement income to retire comfortably.

Calculations:

How much must Kevin and Whitney save annually for 30 years of retirement if they wish to meet their income projection, assuming a 2 percent inflation rate both before and after retirement, and an 8 percent return on investments before retirement, and 7 percent during retirement?

 



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