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5 Minute Retirement Plan

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To Retire "Comfortably" - 

YOU NEED TO DO THE MATH!  We’ll make it simple!

 
As always, please print this page for reference and set it next to you.
 
We are going to put a complete retirement plan
together for you in about 5 minutes.
 
 Part A - Click on the “Assets” button (picture of the vault) .
  1. Click on the “Retirement” button in the top right area of “ASSETS.”
  2. In the far left column labeled “Goal,” in an open row, select “retirement.”
  3. Column 2, labeled “Account” type – “Main Bank”
  4. Column 3, labeled “Value” type – “10,000”
  5. Column 4, labeled “Additions” type – “500”
  6. Column 5, labeled “Date Req’d,” MONEY DECODERcalculates this based on:
    1. The AGE entered for retirement age in the Retirement Analysis to the right.
    2. The Date of Birth entered in the “Family” page .
    3. NOTE: You can change the “age’ of retirement to the right if you so desire.
 
Part B - Go to the “Retirement Analysis” (module to the right)
  1. Enter any “fixed retirement income” you expect to receive at age of retirement in the top 3 rows (white areas). This could be social security, pension income, annuity income, etc. 
  2. Go Down to “(your name)’s” Desired Retirement Age” and enter your desired age.
  3. Enter an amount for estimated inflation % at time of retirement
  4. Enter Estimated % Return After Retirement. This is the amount you expect to earn on ALL of your retirement investments at the time you retire. You may notice that your current estimated “weighted/blended average” is calculated for you based on your retirement entries in the area on the left.
 
MONEY DECODER will produce the following information for you:
    1. Net Real Estate Income from entries in Real Estate page .
    2. Total Estimated income from liquid assets from “Retirement” investments.
    3. Total Fixed Income from “Other Retirement Income” from entries above.
    4. TOTAL RETIREMENT INCOME at the age you have selected

For extra credit and extra options you can use the "Options" button to make considerations for alternative retirement plans and options based on changing your hypothetical situation.




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