Math 115 Discussion board 2
nbechtold
Retirement_Savings_Calculator.xlsxCalculations
| amount you owe | $ 5,000.00 | ||||||
| average annual interest rate on your debt | 12% | ||||||
| amount of total monthly debt payments you are making | $ 250.00 | ||||||
| time to payoff your debt | 1.86 | years | |||||
| Years of delay until you start saving | 0 | ||||||
| long term average inflation rate in the US | 3.23% | ||||||
| # of years until retirement | 0 | ||||||
| amount of money per month you want in today's dollars | $ - 0 | ||||||
| amount of money per month at the time of your retirement | $ - 0 | ||||||
| assumed average interest rate on your investments after retirement | 0.0% | ||||||
| assumed average inflation rate after retirement | 2.2% | ||||||
| net assumed average interest rate after retirement | -2.1% | ||||||
| number of years you will live off of your money | 0 | ||||||
| amount of money you will need when you retire | $0.00 | ||||||
| assumed average interest rate on investments before retirement | 0.00% | ||||||
| amount of money you have invested today | $ - 0 | ||||||
| value of current investments at retirement using assumed interest rate on your investments | $ - 0 | ||||||
| amount of money you need to save each month starting now | $0.00 | ERROR:#NUM! | |||||
| amount of money you need to save each month starting the month after your selected delay | $0.00 | ERROR:#NUM! | |||||
| NOTE: These calculations assume an annual inflation rate after retirement of 2/3 of the annual inflation rate before retirement. | |||||||
| This assumption is probably reasonable for those who own their own house at that time. If you wish to adjust this assumption, | |||||||
| then UNHIDE row 17 and change the inflation rate in Column D to match the assumption that you wish to make. |
Calc with sample values
| amount you owe | $ 16,000.00 | ||||||
| average annual interest rate on your debt | 14.99% | ||||||
| amount of total monthly debt payments you are making | $ 550.00 | ||||||
| time to payoff your debt | 2.09 | years | |||||
| Years of delay until you start saving | 2.09 | ||||||
| long term average inflation rate in the US | 3.23% | ||||||
| # of years until retirement | 25 | ||||||
| amount of money per month you want in today's dollars | $ 4,000.00 | ||||||
| amount of money per month at the time of your retirement | $ 8,900.00 | ||||||
| assumed average interest rate on your investments after retirement | 4.0% | ||||||
| assumed average inflation rate after retirement | 2.2% | ||||||
| net assumed average interest rate after retirement | 1.8% | ||||||
| number of years you will live off of your money during retirement | 30 | ||||||
| amount of money you will need when you retire | $2,471,677 | ||||||
| assumed average interest rate on investments before retirement | 8.00% | ||||||
| amount of money you have invested today | $ 50,000.00 | ||||||
| value of current investments at retirement using assumed interest rate on your investments | $ 342,424 | ||||||
| amount of money you need to save each month starting now | $2,239 | $2,238.90 | |||||
| amount of money you need to save each month starting the month after your selected delay | $2,723 | $2,722.77 | |||||
| NOTE: These calculations assume an annual inflation rate after retirement of 2/3 of the annual inflation rate before retirement. | |||||||
| This assumption is probably reasonable for those who own their own house at that time. If you wish to adjust this assumption, | |||||||
| then UNHIDE row 17 and change the inflation rate in Column D to match the assumption that you wish to make. | |||||||
avg interest rate on debt
| Interest | |||
| Amount | Rate | ||
| Debt 1 | |||
| Debt 2 | |||
| Debt 3 | |||
| Debt 4 | |||
| Debt 5 | |||
| Debt 6 | |||
| Debt 7 | |||
| Debt 8 | |||
| Debt 9 | |||
| Total | $ - 0 | ERROR:#DIV/0! |
