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RETIREMENT PLAN ASSIGNMENT:
Develop your personal theoretical retirement plan using a simulation tool
Use the web calculator provided by Bankrate.com to plan your personal retirement
1. Write a paper to document your retirement simulations.
a. Create a retirement base plan based on realistic expectations. Assume a starting salary
at the beginning of your career upon graduation
Base your age targets on your current age. Make all other necessary assumptions as
required by the tool. The more realistic your plan, the better the feedback the calculator
b. Your paper needs to include a ‘screen shot’ of the your calculator results and input
settings. Justify your base assumptions in a short paragraph and provide a brief
explanation of the calculator results.
c. Prepare two (2) additional retirement plans by changing some of the variables in the
input settings. For each additional plan, include a ‘screen shot’ of your simulation results
and input settings. Explain the rationale you used when changing the variables.
Comment on the calculator results.
d. Conclude: what have you learned in this retirement simulation exercise? Identify two (2)
action items you will implement as you start planning for retirement.