retirement financial planning - case study

1

Retirement financial planning

Student’s Name

Institutional Affiliation

Course Code

Instructor

Due Date

Memorandum

To

From

Date

Subject: Tim’s Retirement plan

In order to make Tim’s retirement plan, the associated parameters such as age factor must be considered at the onset of a retirement plan. Right now, Tim is 37 years, and the age of his retirement is 65. Parameters such as savings must be put into consideration too. The following are the factors I am planning to incorporate and look at in the case of Tim's retirement plan.

Savings

I am planning to bring into calculation Tim’s accumulated savings and the particular age at which the finances will get depleted. To ascertain this, I will use parameters such as Tim’s current age, expected retirement age, his interests, total salary earnings, percentage of salary channeled to retirement, and the associated taxes.

Time limit

This is basically determined by the age factor. I will put into consideration the time limit for which Tim's retirement savings are to be calculated. This I would achieve through checking into premium payment periods. Making Tim's retirement benefits does not only involve his saving plans at 37, but since the time he started working with the associated organization. Time limit will help calculate the retirement lump sum and even the time in which the lump sum will get depleted.