How much do you need for retirement? Show work and explain why.

$-$

$$You have an annual salary of

$1$

$5$

$0$

k net of tax

$-$

$$You are

$2$

$3$

$$years old

$-$

$$You intend to retire at

$6$

$5$

$$years old

$-$

$$You intend to live off of

$1$

$0$

$0$

k in future dollars every year in retirement

$-$

$$You have

$5$

$7$

k in debt at a rate of

$5$

$\%$

$$that you want to pay of before retirement

$-$

$$You believe you will live until

$9$

$5$

$$years old

$-$

$$Your current annual expenses after tax are

$4$

$7$

k

$-$

$$You expect a growth rate of

$6$

$.$

$5$

$\%$

$$every year until retirement

$-$

$$You expect a growth rate of

$4$

$.$

$5$

$\%$

$$every year after retirement