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Retirement Strategies

Retirement Strategies. Saving Early Pays. By Joe George george04@students.rowan.edu. Retirement. Ease at last…. Who doesn’t want to retire at 65? Who doesn’t want to worry about money? You too could enjoy retirement! All you need is a little help… … and you can find it here!. Saving.

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Retirement Strategies

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  1. Retirement Strategies Saving Early Pays By Joe George george04@students.rowan.edu

  2. Retirement Ease at last… • Who doesn’t want to retire at 65? • Who doesn’t want to worry about money? • You too could enjoy retirement! • All you need is a little help… • … and you can find it here!

  3. Saving The key to happiness… A Guide to Retirement Things to know… • There are many secrets to a happy retirement. However, my guide will show you a brilliant retirement plan put into action! • This next example is based on my life. For this guide to apply to you, you must change it around to fit your life.

  4. Required Information • Age at start of work: 22 • Approx. inflation rate: 2.793% • Investment rate: 5% • Age of retirement: 65 • Life Expectancy: 84 • Starting salary: $48,000

  5. Calculations • Based on the previous information, the following can be found: • Final Salary: $156,918 • (based on inflation rate) • Retirement Needs: $117,689 • (per year) (75% final salary) • Total Savings Goal: $1,422,309 • (total retirement needs)

  6. Why start saving early? As time goes by, saving becomes harder and harder…

  7. Visual Proof! As you can see from these charts, waiting to save can really hurt. The longer you wait, the more of your salary you will have to save each year. Saving immediately means saving one fifth of what you would have to save each year as opposed to saving 25 years later.

  8. The Key to Retirement… … is to save early!

  9. Sources Current Inflation. Online. Available: http://www.inflationdata.com/inflation/inflation_rate/currentinflation.asp “Getting started”. Ultimate Guide to Retirement. Online. Available: http://money.cnn.com/retirement/guide/Basics/ Life Expectancy. Online. Available: http://gosset.wharton.upenn.edu/~foster/mortality/perl/mainform.pl?age=18&sex=male&race=white&height=69&weight=180&education=more+than+11&income=120000&maritalstatus=not+married&fitness=3rd&familyheartdiseases=do&familyprostate=do+not&familybreast=do+not& Salary Wizard. Online. Available: http://swz.salary.com/salarywizard/layoutscripts/swzl_salaryresults.asp?hdSearchByOption=0&hdLocationOption=1&hdKeyword=Accountant&hdJobCategory=FA01&hdNarrowDesc=Accounting%2C+%2C+&hdZipCode=&hdStateMetro=&hdGeoLocation=Atlantic+City%2C+NJ+08401&hdCurren “When should I start saving for retirement”. Ultimate Guide to Retirement. Online. Available: http://money.cnn.com/retirement/guide/basics_basics.moneymag/index.htm

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