A civil engineer planning for her retirement places 11% of her salary each year into a high-technology stock fund. If her salary this year (end of year 1) is $200,000 and she expects her salary to increase by 4% each year, what will be th future worth of her retirement fund after 14 years provided it earns 8% per year?

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A: Payments at age 22 and 23 = $2000Payments from age 24-30 = $10,000Payments from age 31-30 =…

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Q: Finding the required interest rate Your parents will retire in 29 years. They currently have…

A: Given: Current worth = $400,000 Future value = $1,100,000 Years = 29

Q: Kim decides to retire in 15 years but she has nothing saved. She wants to receive $3,000 per month…

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Q: Mia plans to save $9,700 a year for the next 27 years to help her in retirement starting at the end…

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Q: Please answer a, b, and c   Your client is 35 years old. She wants to begin saving for retirement,…

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Q: . Calculate the present value of the $580,000 future cash benefit. Assuming that the retirement…

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Q: Question 10: Jenny is currently 20 years old and is planning for her retirement. She has $10,000 in…

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Q: Suppose someone wants to accumulate $65,000 for a college fund over the next 15 years. Determine…

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Q: Debbie is 22. She wants to invest part of her monthly salary in order to have $760,000 when she…

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A:

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Retirement Income

Retirement income is the income received by the retiring person after retirement. Income can either be paid every month or paid annually. The retiree would get a guaranteed income until their death. Retirement income payment differs from person to person based on their investment type and payment method. Some are paid on a lump-sum basis and some are paid in a regular series with fixed payment or variable cash flow. Retirement income can be created from retirement savings, investment, salary, bonus, and wages from employment. Every working individual should plan their retirement income according to their income goals for the future. The plan should be made by identifying suitable income sources, estimating future expenses, applying a savings plan, and managing risk and assets. The most common age for retirement is between 60-65 years.