# Retirement Saving Analysis

Anonymous
timer Asked: Nov 7th, 2014

Question description

This is a real world demonstration to determine the amount of savings you should have put away for your retirement.  This is a dynamic and powerful exercise to demonstrate the power of the time value of money.  Set your own financial goals and use this worksheet to understand how much you will need to have saved by retirement age to live the lifestyle that you have planned for yourself.

1. First, complete page one of the worksheet first by closely following the directions of each question.  Much of the assignment is subjective based on your own financial goals, but the math is objective - and you must show your work to demonstrate your understanding of the assignment.
2. Next, complete #9 of the worksheet using your best estimate of you future earnings.  If the time period set forth isn't appropriate due to your age, feel free to adjust the timeframes as needed.
3. Input the values from #9 on the worksheet into the Retirement Excel Template (Type directly over my values. They are there for illustrative purposes).  It is important the  values from the spreadsheet match the values you input into the Excel template.  Also, don't forget to include the amount of savings you estimate to have accumulated.  The worksheet is designed to be flexible to meet your own individual goals.  If you are an older student, then change the variables accordingly or you may create a completely fictional scenario.  Just be sure that if you change time (n) or rate (r) then you also change the associated interest factors.
4. The spreadsheet will then calculate much of the work for you.  But please calculate the very last box at the bottom of the Excel template using your financial calculator.  The variables are there for you.  This assignment isn't designed to have you crunch a lot of numbers.  You're doing enough of that type of practice inside of Connect.  Rather, this exercise is the practical application of what you have learned about the time value of money from Chapter 9.
5. Go back and complete the remainder of the worksheet based on the values computed in the Excel template.

The Excel template must be submitted with the completed worksheet and the figures in both the worksheet and template must be consistent with one another.  Discrepancies will be a cause for point deductions.  Also, proofread carefully because I will also deduct points for spelling, punctuation, and grammatical errors. Your submission must include both a completed retirement worksheet as well as the Excel template and be sure the numbers between the two documents match accordingly.

This exercise is designed for you to understand the power of compounding and the importance of time in that process (start early, save a lot). I hope you can walk away with this knowledge.  While the Connect exercises make sure you know how to crunch the numbers, this template is something you can hopefully take with you long after this class ends.

## Rubric

Retirement Exercise Rubric

Retirement Exercise Rubric

CriteriaRatingsPts

Questions 1-5

 Exemplary5 pts Meets Expectations2 pts Needs Improvement1 pts Incomplete/Insufficient0 ptsEdit rating

5 pts

Questions 6 & 7

 Exemplary30 pts Meets Expectations20 pts Needs Improvement10 pts Incomplete/Insufficient0 ptsEdit rating

30 pts

Questions 8 & 15

 Exemplary20 pts Meets Expectations14 pts Needs Improvement10 pts Incomplete/Insufficient0 ptsEdit rating

20 pts

Question 9

 Exemplary10 pts Meets Expectations6 pts Needs Improvement4 pts Incomplete/Insufficient0 ptsEdit rating

10 pts

Questions 10, 11 & 14

 Exemplary5 pts Meets Expectations3 pts Needs Improvement2 pts Incomplete/Insufficient0 ptsEdit rating

5 pts

Questions 12 & 13

 Exemplary10 pts Meets Expectations6 pts Needs Improvement4 pts Incomplete/Insufficient0 ptsEdit rating

10 pts

Excel template

 Exemplary20 pts Meets Expectations10 pts Needs Improvement5 pts Incomplete/Insufficient0 ptsEdit rating

20 pts

Total Points: 100

## Tutor Answer

(Top Tutor) Studypool Tutor
School: Purdue University
Studypool has helped 1,244,100 students
flag Report DMCA

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors