Mr. Partho, who is 30 years old, has approached a financial planner for analysis of his retirement needs and wishes to start saving now towards this goal. He will retire at age 55. Life expectancy is assumed to be 75 years. Present annual expenses are Rs. 3,00,000 and he wishes to maintain the same standard of living after retirement. The rate of return expected on investments is 12% per annum and the average inflation rate is assumed to be 5% per annum throughout the phase. How much does he need to save every month in order to maintain the same standard of living even after retirement

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A: The objective of this question is to determine how much your brother can spend each year after he…

Q: Abdullah's current salary is $80,000 per year, and she is planning to retire 25 years from now. He…

A: Here,Annual Income is $80,000Increase in salary every year is $300Deposit % is 6% of Annuall Salary…

Q: Mr. Ram wish to work for another seven years and wants to buy a second home in Munnar after his…

A: Future Value Required = 2,00,00,000 Time Period (N) = 7 years i.e. 14 semi annual payments Interest…

Q: Your father will get a gratuity of ₹ 350,000 after 10 years from now on his retirement. His employer…

A: The time value of money is a concept in finance that takes into account the effect of compounding to…

Q: Your client, Tom, has come to you inquiring about retirement. He wants to know approximately how…

A: Given: Annual retirement amount “PMT” = $182365 Number of years post retirement = 90-64 = 26 Nominal…

Q: Joe’s starting salary as a mechanical engineer is around $80,000. Joe is planning to place a total…

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Q: Kevin and Jennifer are ready to retire. They want to receive the equivalent of $40,000 in today's…

A: To calculate the lump sum that Kevin and Jennifer need to invest today, we can use the present value…

Q: our client is 40 years old; and she wants to begin saving for her retirement, with the first payment…

A: Given:

Q: Jabari is planning for his retirement in 5 years’ time. He plans to deposit $200,000 immediately…

A: In this question, we have to calculate the future value of given annuity. Future value of annuity is…

Q: You turned 20 today and you want to retire on your 65th birthday. Starting with the day of your…

A:

Q: Lillian Coleman is 21 years old and has just graduated from college. In considering the retirement…

A: Inflation refers to the continuous rise in price level. It erodes the buying power of money.…

Q: Kun is thinking about investing $4,000 at the end of each year for 30 years in a tax-sheltered…

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Q: Katrina is planning to make an additional investment at the end of each year for his retirement in…

A: Future value of an amount can be calculated by compounding that amount by using the interest rate…

Q: Nick has calculated his retirement needs.  He would like to receive $1,000 per month for 20 years…

A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…

Q: ou would like to start saving for retirement. Assuming you are now 20 years old and you want to…

A: The future value function or concept can be used to determine the future value of a present sum or…

Q: Sharon is planning for her retirement 34 years from now. She plans to invest $5,600 per year for the…

A: Here's a detailed calculation for better understanding. Sharon's investment schedule:$5,600 per year…

Q: hmad is looking forward to retiring in 2036. He wants to invest some money so that he can earn…

A: Present Value is the current value of the future sum of money at the specific rate of return.

Q: Brian would like to retire in 10 years when he turns 62. Based on his family history, Brian expects…

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Q: Mr. Peter Phang, aged 35, is planning to retire at age 55. He understands from his advisor that he…

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Q: Use Excel to solve the following problem. Assume that you are 39 years old planning for your future…

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Q: An investor plans to save 45 years for his retirement with $500 monthly deposits. He plans to live…

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A: The present value of annuity due refers to the current value of a series of future payments. The…

Q: ?

A: Formula for Annuity: FV = PMT(1+r/n)^nt - 1                      r/n Where FV is the annuity future…

Q: e year from now. She can save Rs. 5000 per y ck market., which expect to provide average ret ur…

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Q: Mr. Areola is planning to make an additional investment at the end of each year for his retirement…

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Q: deposits. The annual effective interest rate is 6%. Determine Y.

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Q: year for 10 years after the age of ent home once she is 70 years old and she is not concerned Assume…

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Q: Brad is working with a financial planner and is confident that he can invest in mutual funds that…

A: Annual return (r) = 10% or 0.1Number of years (n) = 40Future Value (FV) = $2 million or…

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.