Academy for Jewish Religion ?retirement Planning and Cash Flow Statement Retirement Planning 1. At which age do you plan to retire?_______ 2. As a rough

Academy for Jewish Religion ?retirement Planning and Cash Flow Statement Retirement Planning

1. At which age do you plan to retire?_______

2. As a rough estimate, how much money would you like to have saved at the time you retire? $_________________

3. Use your personal cash flow statement to estimate how much you plan to save for retirement each year during the years you plan to work before retirement. (You could estimate the same amount each year, or list different amounts each year based on your expected growth in income):

4. Based on your estimates in question 3, use the future value tables in Appendix C to estimate how much money you will have saved at retirement. Of course, the interest rate you choose in the table is not a guarantee, and it should be based on how much risk you are willing to tolerate on the money you save and invest for retirement.

Expected future value of savings at the time of retirement:$__________________