1. Student graduates and is employed receiving an annual salary of $70,000. Student will receive a 50% employer match on their retirement contributions up to 6% of their annual salary. Assume, student takes advantage of this match to the maximum amount for student’s 35 year working career. How much will student have at the end of his/her career? Assume student earns 7% on their retirement investments. Assume Student did not receive an employer match, but did the same thing. How much would student have in retirement savings upon retirement? 2. Student is now 35 and has $100,000 in retirement savings. Student withdrawals $75,000 early. Student then reenters the workforce and begins saving again for retirement at age 38. Student then works another 30 years. Student has $7,000 in retirement savings for those 30 years. How much money will student have upon retirement at age 68? Assume student makes 7% on their retirement savings. Assume similar student has $100,000 at age 35 and then contributes $7,000 a year for the next 33 years earning 7% on their retirement savings. How much will they have at age 68?
1. Student graduates and is employed receiving an annual salary of $70,000. Student will receive a 50% employer match on their retirement contributions up to 6% of their annual salary. Assume, student takes advantage of this match to the maximum amount for student’s 35 year working career. How much will student have at the end of his/her career? Assume student earns 7% on their retirement investments.
Assume Student did not receive an employer match, but did the same thing. How much would student have in retirement savings upon retirement?
2. Student is now 35 and has $100,000 in retirement savings. Student withdrawals $75,000 early. Student then reenters the workforce and begins saving again for retirement at age 38. Student then works another 30 years. Student has $7,000 in retirement savings for those 30 years. How much money will student have upon retirement at age 68? Assume student makes 7% on their retirement savings.
Assume similar student has $100,000 at age 35 and then contributes $7,000 a year for the next 33 years earning 7% on their retirement savings. How much will they have at age 68?
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