1:01 l LTE @) Assessment Traits X & Requires Lopeswrite Assessment Description The purpose of this assighment is to create a personal retirement plan that addresses basic needs, a savings strategy, and income sources while anticipating issues that negatively impact planning for retirement. In 150-250 words, create a summary of your retirement plan. Include the following: 1. Determine your presumed retirement age and find the average life expectancy for someone your age/gender. Calculate the years you believe you will have as a retired person. Now reevaluate your assumptions, considering that you may live longer than the average. How many years might you have in retirement? 2. Develop a preliminary retirement savings strategy that outlines how much you need to contribute initially and annually to your chosen retirement accounts in order to reach your goals. What retirement savings or investing options will you need to considering adding? 3. Based on current assumptions, what sources of income will you anticipate having in retirement (e.g., Social Security, pensions, rental income)? 4. Discuss what expenses will likely be higher during your retirement than now. Include two barriers that often keep people from saving for retirement and how you plan to overcome these barriers in your own retirement planning. General Requirements Prepare this o ekt \\/ DUSINess