Defined contrinution plans

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Reference no: EM131439507

1) A few of your clients have defined contrinution plans and have asked for your assistance in determining the funds available for retirenment. They would like to know how much money they will have in the future based on a current amount in investments that they will keep invested until retirement.

2) They would also like to know how much money they will have in the future if at the end of each year their employee deposits 10% of their salary.

3) Upon retirement, the initial investment and 401k fund will be combined and used for living expenses. Excess funds will remain invested during retirement. Their last questions is how much money can they withdraw each year if they plan to live a certain number of years.

You can create your own input numbers such as the annual rate of return, initial investment amount, current salary, # of years until retirement, etc...

A 401k fund is a savings plan that allows employees to contribute a fixed amount ofincome to a retirement account and to defer taxes until withdrawal.

Reference no: EM131439507

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