Here, we make the same assumptions, BUT we will now add a donation from our estate at the end of retirement.$$ While the donation will occur at the end of retirement, we will value it at retirement day as it will need to be funded with our savings.

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Notice that we have changed our assumptions slightly:

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INPUTS:

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Current Age

$22$

Retirement Age

$67$

Amount Saved So Far

$$2,000$

Current Income

$$55,000$

Income Growth Rate

$3\mathrm{.}80\%$

Savings Rate

$15\mathrm{.}00\%$

APR

$6\mathrm{.}00\%$

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RETIREMENT:

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$\%$ of max income required

$60\%$

Annual Growth Rate

$2\mathrm{.}30\%$

Retirement APR

$4\mathrm{.}00\%$

Retirement Years

$25$

Planned Legacy Donation

$$500,000$