Prepare your retirement plan as followed:

1. List the following:

A) Time periods: Estimate how long you have to save and how long you will live after stop working by stating how old you are now, when you will retire, and how long you will live (e.g. you are 35 years old, plan to retire at the age of 60 and expected to live until 80, which suggests 25 years of saving period and 20 years of life after the time you stop working.).

B) The annual expenses (e.g. food & living, rent / mortgage, healthcare, childcare, travelling, etc.): Estimate how much you will need during those retirement years based on today's dollar. Also, consider increasing the amount over different periods (e.g. you may need a total of $20,000 a year in the first 10 years, then $30,000 per year over the next 10 years, etc.).

C) Inflation rate: Estimate an average annual inflation rate appropriate for now until the end of your life. Conduct a research to support your estimation. D) Rate of return: Estimate an average annual rate of return on investment you can earn on your savings. Discuss your investment plan (e.g. asset types, expected rates of return, risks, etc.) to validate your estimation.

E) Current savings: State how much you have already set aside for retirement today or the value of allowances you expect to receive (e.g. social security, pension or provident funds, etc.). This is zero if you have not begun saving or are not entitled to any benefits.

Please explain and show how to calculate via Excel (with formulat) in detail.