FP101 R9 Retirement Planning Worksheet 3 
University of Phoenix Material
Retirement Planning Worksheet
Step 1: Estimate your retirement income at: http://www.bankrate.com/calculators/retirement/retirement-plan-income-calculator.aspx
You will be asked to answer six questions. If you are unsure of what the fields are, the definitions are below on the same page. There are some assumptions about how much your investments will earn, inflation rates, and tax rate; you can edit these to see how they impact the calculation.
Based on your inputs, what is your estimated monthly retirement income before tax/inflation? Before taxes is $895
Based on your inputs, what is your estimated monthly retirement income after tax/inflation? Nothing changed from before taxes. I still see $895 a month.
Step 2: Determine how your current retirement strategy will provide for retirement income: http://www.bankrate.com/calculators/retirement/retirement-plan-calculator.aspx You will be asked to answer eight questions. If you are unsure of what the fields are, the definitions are below on the same page. There are some assumptions about how much your investments will earn, inflation rates, and if Social Security income is considered; you can edit these to see how they impact the calculation.
Based on your inputs, how much monthly income is your current strategy estimated to provide?
Assume that monthly income will not be sufficient. In at least 100 words, what steps can you take now and/or in retirement to live comfortably in retirement? The steps I can take is making sure to finish school and countie to work on a higher education to fulfill my retirement plan and paying my house before 62 years of age. I should not have any car loans by then and I belive this will help me out so much. I think by the age 48, would be the last time I could buy a new car/truck and start keeping my credits in a very low balance with the help of my wife, we should be able to have the things we want paid off by 62 of age and start
Retirement Planning Worksheet
Step 1: Estimate your retirement income at: http://www.bankrate.com/calculators/retirement/retirement-plan-income-calculator.aspx
You will be asked to answer six questions. If you are unsure of what the fields are, the definitions are below on the same page. There are some assumptions about how much your investments will earn, inflation rates, and tax rate; you can edit these to see how they impact the calculation.
Based on your inputs, what is your estimated monthly retirement income before tax/inflation? Before taxes is $895
Based on your inputs, what is your estimated monthly retirement income after tax/inflation? Nothing changed from before taxes. I still see $895 a month.
Step 2: Determine how your current retirement strategy will provide for retirement income: http://www.bankrate.com/calculators/retirement/retirement-plan-calculator.aspx You will be asked to answer eight questions. If you are unsure of what the fields are, the definitions are below on the same page. There are some assumptions about how much your investments will earn, inflation rates, and if Social Security income is considered; you can edit these to see how they impact the calculation.
Based on your inputs, how much monthly income is your current strategy estimated to provide?
Assume that monthly income will not be sufficient. In at least 100 words, what steps can you take now and/or in retirement to live comfortably in retirement? The steps I can take is making sure to finish school and countie to work on a higher education to fulfill my retirement plan and paying my house before 62 years of age. I should not have any car loans by then and I belive this will help me out so much. I think by the age 48, would be the last time I could buy a new car/truck and start keeping my credits in a very low balance with the help of my wife, we should be able to have the things we want paid off by 62 of age and start