You will each have different pensions and social security

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Reference no: EM132071416

You will lead a retirement life from 65 to 90.

Number of years in retirement = 25 years

Total capital needed for retirement = $1,875,000 (based on the assumption that $75,000 is needed each year to cover expenses)

You are now 22 years, the number of years for retirement = 43 years

Present value of money that you will need for retirement = $153,055.54 2. (an assumption that the interest rate is 6%)

Include your spouse in your calculations. It would be a good idea to include columns in your spreadsheet for both you and your spouse, since you will each have different pensions, Social Security, etc.

Reference no: EM132071416

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