Outline a program for your own retirement. In the process of writing this paper
answer the following questions. You will need to state your assumptions about interest and
inflation rates.
a. What monthly amount of money today would provide you a comfortable living?
b. Using the answer to part a project that amount to your retirement, calculating the effects of
inflation. Use your own age and assume that you will retire at age 65.
c. How much money would you need to have accumulated to provide the amount you found in part b if
you decide to live on the interest only?
d. If you set up a sinking fund to provide the amount you found in part c, how much would you need
to deposit each month?
e. Offer some alternatives to a sinking fund.
f. Draw some conclusions about your retirement.
There are a multitude of sites to help with retirement planning. Here are a couple of samples:
http://www.troweprice.com/common/index3/0,3011,lnp%253D10106%2526cg%253D920%2526pgid%253D7592,00.html?van=retirement
http://www.aoa.dhhs.gov/retirement/fpfr.html