Question: show me answer you have to use https://www.ssa.gov/OACT/quickcalc/index.html Cheryl a registered nurse earns $50.000 annually. She is 35 years old and is planning to retire
show me answer
you have to use https://www.ssa.gov/OACT/quickcalc/index.html
Cheryl a registered nurse earns $50.000 annually. She is 35 years old and is planning to retire sometime between age 62 and age 67 at which time she expects to receive Social Security retirement benefits and her own retirement benefits that she hopes to be able to accumulate between now and retirement. Her final working year's annual income replacement ratio for when she starts retirement benefits is 90%. She expects to earn an average annual 9% on her investments and believes that inflation will be 3% annually between now, her retirement, and after. Assume that currently Cheryl has no other source of retirement income. If her salary increases at 3% annually until she retires, what will be her annual salary at age 62 $ 111,064.45 age 66 $ 125,004.02 and age 67 $ 128,754.14 What is Cheryl's estimated monthly and annual income from Social Security based upon the Social Security website using the quick calculator at www.ssa.gov/OACT, if she begins retirement benefits are the following ages? Monthly Social Security retirement benefit beginning at age 62 $, at age 62 $, at age 62 $, Annual Social Security retirement benefits beginning at age 62 $, at age 62 $, at age 62 $, What percentage of her income will Social Security replace, if she begins Social Security benefits at age 62? %, age 66 %, or age 67% % How much additional annual income in retirement is needed to meet the 90% replacement goal she would like to achieve? $
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