Demonstrate the sensitivity of the age

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Reference no: EM133742522

Question: Let's assume that you would like to establish a retirement plan. Develop a spreadsheet model that could be used to assist you with retirement planning. Your model should include the following input parameters:

Your age in years
Current total retirement savings
Annual rate of return on retirement savings between 5% - 10%
Current annual salary
Expected annual percentage increase in salary 1%- 5%
Annual salary contributed to retirement 4- 6%
Age of retirement between 55 - 70 years' old
Annual expenses after retirement (current dollars) $50,000 - $140,000
Rate of return on retirement savings after retirement 1% - 13%
Income tax rate postretirement 10 - 35%
Assume Inflation rate is 3- 6%
Assume that your employer contributes up to 6% of your salary towards your retirement fund. Also you can make an additional annual contribution to your retirement fund before taxes (tax free) up to a contribution of more than $10,000 but less than $15,000. Assume that you contribute between $3,000 -$10,000 per year. Also, assume an inflation rate of 3-6%. The specific numbers should be displayed and explained in your paper.

Respond in detail to each question. Review the rubric prior to responding. Prepare a managerial report as described below.

Your spreadsheet model should provide the accumulated savings at the onset of retirement as well as the age at which funds will be depleted (given assumptions on the input parameters).

As a feature of your spreadsheet model, build a data table to demonstrate the sensitivity of the age at which funds will be depleted to the retirement age and additional pre-tax contributions. Similarly, consider other factors you think might be important.

Report should include an outline of the factors that will have the greatest impact on his retirement and a summary of recommendations.

Reference no: EM133742522

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