C1. X/(1.

07)^x = X
2063 2064 2065 2066 2067 2068 2069 2070

$134,004.51 $138,024.65 $142,165.39 $146,430.35 $150,823.26 $155,347.96 $160,008.40 $164,808.65

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$29,201.76 $30,077.82 $30,980.15 $31,909.55 $32,866.84 $33,852.85 $34,868.43 $35,914.48
$7,828.89 $8,063.76 $8,305.67 $8,554.84 $8,811.49 $9,075.83 $9,348.10 $9,628.55
$7,828.89 $8,063.76 $8,305.67 $8,554.84 $8,811.49 $9,075.83 $9,348.10 $9,628.55
$19,572.23 $20,159.39 $20,764.18 $21,387.10 $22,028.71 $22,689.58 $23,370.26 $24,071.37
$1,213.48 $1,249.88 $1,287.38 $1,326.00 $1,365.78 $1,406.75 $1,448.96 $1,492.42
$3,718.72 $3,830.28 $3,945.19 $4,063.55 $4,185.46 $4,311.02 $4,440.35 $4,573.56
$9,786.11 $10,079.70 $10,382.09 $10,693.55 $11,014.36 $11,344.79 $11,685.13 $12,035.69
$9,981.84 $10,281.29 $10,589.73 $10,907.42 $11,234.64 $11,571.68 $11,918.83 $12,276.40
$4,971.35 $5,120.49 $5,274.10 $5,432.32 $5,595.29 $5,763.15 $5,936.05 $6,114.13
$7,554.88 $7,781.53 $8,014.97 $8,255.42 $8,503.08 $8,758.18 $9,020.92 $9,291.55
$1,174.33 $1,209.56 $1,245.85 $1,283.23 $1,321.72 $1,361.37 $1,402.22 $1,444.28
$1,056.90 $1,088.61 $1,121.27 $1,154.90 $1,189.55 $1,225.24 $1,261.99 $1,299.85
$14,679.17 $15,119.55 $15,573.13 $16,040.33 $16,521.54 $17,017.18 $17,527.70 $18,053.53
$7,828.89 $8,063.76 $8,305.67 $8,554.84 $8,811.49 $9,075.83 $9,348.10 $9,628.55
$126,397.44 $130,189.36 $134,095.04 $138,117.90 $142,261.43 $146,529.28 $150,925.15 $155,452.91

1 2 3 4 5 6 7 8
$118,128.45 $113,712.43 $109,461.50 $105,369.48 $101,430.44 $97,638.64 $93,988.60 $90,475.01
 2071 2072 2073 2074 2075 2076 2077 2078

$169,752.91 $174,845.49 $180,090.86 $185,493.59 $191,058.39 $196,790.14 $202,693.85 $208,774.66

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$36,991.92 $38,101.68 $39,244.73 $40,422.07 $41,634.73 $42,883.77 $44,170.29 $45,495.39
$9,917.40 $10,214.93 $10,521.37 $10,837.02 $11,162.13 $11,496.99 $11,841.90 $12,197.16
$9,917.40 $10,214.93 $10,521.37 $10,837.02 $11,162.13 $11,496.99 $11,841.90 $12,197.16
$24,793.51 $25,537.32 $26,303.44 $27,092.54 $27,905.32 $28,742.47 $29,604.75 $30,492.89
$1,537.20 $1,583.31 $1,630.81 $1,679.74 $1,730.13 $1,782.03 $1,835.49 $1,890.56
$4,710.77 $4,852.09 $4,997.65 $5,147.58 $5,302.01 $5,461.07 $5,624.90 $5,793.65
$12,396.76 $12,768.66 $13,151.72 $13,546.27 $13,952.66 $14,371.24 $14,802.37 $15,246.45
$12,644.69 $13,024.03 $13,414.75 $13,817.19 $14,231.71 $14,658.66 $15,098.42 $15,551.37
$6,297.55 $6,486.48 $6,681.07 $6,881.50 $7,087.95 $7,300.59 $7,519.61 $7,745.19
$9,570.30 $9,857.40 $10,153.13 $10,457.72 $10,771.45 $11,094.60 $11,427.43 $11,770.26
$1,487.61 $1,532.24 $1,578.21 $1,625.55 $1,674.32 $1,724.55 $1,776.28 $1,829.57
$1,338.85 $1,379.02 $1,420.39 $1,463.00 $1,506.89 $1,552.09 $1,598.66 $1,646.62
$18,595.13 $19,152.99 $19,727.58 $20,319.40 $20,928.99 $21,556.86 $22,203.56 $22,869.67
$9,917.40 $10,214.93 $10,521.37 $10,837.02 $11,162.13 $11,496.99 $11,841.90 $12,197.16
$160,116.50 $164,919.99 $169,867.59 $174,963.62 $180,212.53 $185,618.90 $191,187.47 $196,923.09

9 10 11 12 13 14 15 16
$87,092.76 $83,836.96 $80,702.87 $77,685.94 $74,781.79 $71,986.21 $69,295.14 $66,704.66
2079 2080 2081 2082 2083 2084 2085 2086
$215,037.90 $221,489.04 $228,133.71 $234,977.72 $242,027.06 $249,287.87 $256,766.50 $264,469.50
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$46,860.26 $48,266.06 $49,714.05 $51,205.47 $52,741.63 $54,323.88 $55,953.60 $57,632.20
$12,563.07 $12,939.96 $13,328.16 $13,728.01 $14,139.85 $14,564.04 $15,000.96 $15,450.99
$12,563.07 $12,939.96 $13,328.16 $13,728.01 $14,139.85 $14,564.04 $15,000.96 $15,450.99
$31,407.68 $32,349.91 $33,320.41 $34,320.02 $35,349.62 $36,410.11 $37,502.41 $38,627.48
$1,947.28 $2,005.69 $2,065.87 $2,127.84 $2,191.68 $2,257.43 $2,325.15 $2,394.90
$5,967.46 $6,146.48 $6,330.88 $6,520.80 $6,716.43 $6,917.92 $7,125.46 $7,339.22
$15,703.84 $16,174.95 $16,660.20 $17,160.01 $17,674.81 $18,205.05 $18,751.21 $19,313.74
$16,017.92 $16,498.45 $16,993.41 $17,503.21 $18,028.31 $18,569.15 $19,126.23 $19,700.02
$7,977.55 $8,216.88 $8,463.38 $8,717.28 $8,978.80 $9,248.17 $9,525.61 $9,811.38
$12,123.36 $12,487.06 $12,861.68 $13,247.53 $13,644.95 $14,054.30 $14,475.93 $14,910.21
$1,884.46 $1,940.99 $1,999.22 $2,059.20 $2,120.98 $2,184.61 $2,250.14 $2,317.65
$1,696.01 $1,746.90 $1,799.30 $1,853.28 $1,908.88 $1,966.15 $2,025.13 $2,085.88
$23,555.76 $24,262.43 $24,990.30 $25,740.01 $26,512.21 $27,307.58 $28,126.81 $28,970.61
$12,563.07 $12,939.96 $13,328.16 $13,728.01 $14,139.85 $14,564.04 $15,000.96 $15,450.99
$202,830.79 $208,915.71 $215,183.18 $221,638.68 $228,287.84 $235,136.47 $242,190.57 $249,456.28

17 18 19 20 21 22 23 24
$64,211.03 $61,810.62 $59,499.94 $57,275.65 $55,134.50 $53,073.40 $51,089.35 $49,179.46

2087 2088 2089 2090 2091 2092 2093

$272,403.58 $280,575.69 $288,992.96 $297,662.75 $306,592.63 $315,790.41 $325,264.12

 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$59,361.17 $61,142.01 $62,976.27 $64,865.55 $66,811.52 $68,815.87 $70,880.34
$15,914.52 $16,391.96 $16,883.72 $17,390.23 $17,911.94 $18,449.29 $19,002.77
$15,914.52 $16,391.96 $16,883.72 $17,390.23 $17,911.94 $18,449.29 $19,002.77
$39,786.31 $40,979.90 $42,209.29 $43,475.57 $44,779.84 $46,123.23 $47,506.93
$2,466.75 $2,540.75 $2,616.98 $2,695.49 $2,776.35 $2,859.64 $2,945.43
$7,559.40 $7,786.18 $8,019.77 $8,260.36 $8,508.17 $8,763.41 $9,026.32
$19,893.15 $20,489.95 $21,104.65 $21,737.79 $22,389.92 $23,061.62 $23,753.47
$20,291.02 $20,899.75 $21,526.74 $22,172.54 $22,837.72 $23,522.85 $24,228.54
$10,105.72 $10,408.89 $10,721.16 $11,042.80 $11,374.08 $11,715.30 $12,066.76
$15,357.51 $15,818.24 $16,292.79 $16,781.57 $17,285.02 $17,803.57 $18,337.68
$2,387.18 $2,458.79 $2,532.56 $2,608.53 $2,686.79 $2,767.39 $2,850.42
$2,148.46 $2,212.91 $2,279.30 $2,347.68 $2,418.11 $2,490.65 $2,565.37
$29,839.73 $30,734.92 $31,656.97 $32,606.68 $33,584.88 $34,592.43 $35,630.20
$15,914.52 $16,391.96 $16,883.72 $17,390.23 $17,911.94 $18,449.29 $19,002.77
$256,939.97 $264,648.17 $272,587.62 $280,765.24 $289,188.20 $297,863.85 $306,799.76

25 26 27 28 29 30 31
$47,340.98 $45,571.22 $43,867.63 $42,227.71 $40,649.11 $39,129.52 $37,666.73
TOTAL $2,190,017.73

C2.
12 periods, 12% = 0.0414

A. 2190017.13/50 = 43800.34 yearly

a. 43800.34 x .0414 = 1813.33 monthly

B. 2190017.13/40 = 54750.44 yearly

a. 54750.44 x .0414 = 2266.69 monthly

C. 2190017.13/30 = 73000.57 yearly

a. 73000.57 x .0414 = 3022.22 monthly

D. 2190017.13/20 = 109500.86 yearly

a. 109500.86 x .0414 = 4533.34 monthly

C2.

After working through these assignments it honestly seems quite difficult and unrealistic to retire for someone in the

lower-middle class and lower. Although ideally we would like to begin saving from 50 years to retirement, we would need

to start at 17 or 18. I did not make 19.75 at 17, I was making 11 or 12 dollars at the time. There is no way I would have

been able to put away $1,813.33 every month to begin saving for retirement. I am currently at 40 years until retirement

and I cannot afford to put away 2266.69 every month to get me near my goal.
 Before starting this assignment I had assumed that the goal would be to invest around 200-300 hundred a month

would be enough, but after looking at my calculations, It is really around 2000-3000. I am sure that people in their forties

who have not begun investing might be frightened of getting old and not being able to work. I look at the amount at 40

years and I find it hard, but looking at 30 or 20 years and that seems impossible. I am sure for those who do make more it

is easier to find a budget that can fit that amount every month but my current income does not.

It really shows that being able to invest and having multiple forms of income are crucial to be able to plan for your

future. If you are solely dependent on one source of income, you are more than likely not going to be able to pull in what is

necessary to save for retirement. I have tried to research and learn about stocks but overall it is something I have not

quite grasped so I am not sure how I could bring in $2266.99 every month.

C3.

Although I am not far away from 30 years, the idea that as I get closer to retirement, the more I need to invest and

it is disheartening. Before this assignment I had heard people say that by the time many of us Genz and younger

millennials arrive at retirement age it may no longer be an option and now I understand better why. I would not say that I

make minimum wage, but I know that inflation does not reflect in salaries. Had salaries kept up with inflation rate I would

only be making a few dollars more than minimum wage. I struggle and live paycheck to paycheck. I see the numbers from

these calculations and right now that retirement is not an option for me at this point in my life. It impresses me that there
are other people my age and younger that have made enough to retire. I also understand why there are so many adults

who try and work past retirement or who are on benefits because there is no way to keep up with inflation. Yes we could

all work hard but that does not guarantee that you are going to be rich.

I also think a lot about my parents and how they are both close to retirement age and how they will not be able to

afford retirement. Although we have never discussed it, I am pretty confident that they are not saving or putting away

money for that and that may be why my father does not want to stop working anytime soon.

C4.

For some it is, but I believe for the majority it is not. Although I calculated a budget, my entire monthly income

would need to go into retirement savings for me to be able to build enough. It is impossible for me to put that much money

away into investments when I think it is actually more than I bring in after taxes and benefits. If someone has the ability to

put away what is necessary then they should make the necessary sacrifices to begin that investment.

For those who do not, then no. I would love to put money away for retirement, but as I said previously I live

paycheck to paycheck. I am in school and working on obtaining a degree and hopefully I will be able to “catch up” to what

I should be at, but it’s not a possibility for everyone. There are many opportunities and I believe that education is

becoming more available thanks to social media, but there are many who are too close to retirement to even attempt

saving. When I think about my parents it only motivates me more to get my degree and secure a job that pays very well to
help take care of them. I don’t believe they will ever be able to retire by their own will without the guilt of not having

enough retirement money.