At the retirement planning meeting held recently, Richard and Monica were in agreement that they were well
Question:
Questions
1. What do you think of Monica's idea of taking control of retirement investing?
2. What is your opinion of Richard's contention that saving outside the pension was best?
3. What are their alternatives in covering the shortfall in annual retirement savings?
4. What are you recommendations?
Part 2
Brad and Barbara also attended the meeting. They said they were too young to start saving for retirement. Retirement seemed "hundreds of years" away and they wanted to have fun today. They would have plenty of time to save for retirement when they were in their 50s.
Questions
1. How do you feel about their beliefs?
2. Describe the disadvantages of their approach.
3. Suppose they wanted to have $1 million accumulated in 40 years. Indicate how much money would have to be saved each year if they started now. Assume that the money would be accumulated in personal accounts and earn 6 percent a year after taxes.
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