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Name ______________________________________________ Block_________________________Go to 401K On the 401K form fill in your age at graduation from collegeThis will be somewhere between 21-28 depending on when you start, your major and your age now.Fill in your expected incomeRetirement age - 65Life expectancy (currently) 85Expected salary increase every year 3%Current 401K balance -0Savings amount 10%Expected return 6%Expected annual inflation 3%CalculateWhat is the result?_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________How much yearly salary will you receive at 66? _________________________________________How much at 70?_____________________________How much at 75 ?_____________________________How much at 80?_____________________________How much at 84? ____________________________What if you live to be 90?________________________Why do you think there is a difference in payout as you get older?Now try this again with an 8% savings and a 6% savings?List the outcomes below:8%________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________6%___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ................
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