Each student must develop a retirement budget in Microsoft Excel. It must contain budgeting of defined contributions, taxable investment account and social security benefits. Upload Excel file to the Project Assignment in Blackboard.
The following is a list of items required for the budget project. You must also refer to the basic layout and calculations reviewed in class.
List
Contribution, investment and distribution of a Traditional 401k Account, Roth IRA Account and Taxable Investment Account.
Receipt of social security payments in retirement.
Income from salary and/or other taxable income, including from taxable investments.
Deductions and taxes.
General expenses like mortgage/rent (payment must be calculated), transportation, food, student loan payments, etc...
Include the effect of inflation on income and expenses
Track retirement account balances.
Budget should begin 2021 and end in year of life expectancy.
I expect to see changes to income and expenses after retirement.
All contribution, investment and distribution rules and limits will be graded for accuracy.
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