Step 1: Estimate Your Annual Needs at Retirement A. Present level of your living expenditures on an after-tax basis B. Times 0.80 equals: Base retirement expenditure level in today's dollars C. Plus or minus: Anticipated change in living expenditures after retirement D. Annual living expenditures at retirement in today's dollars on an after-tax basis % E. Before-tax adjustment factor, based on an average tax rate of Use Table 16.2 in Text F. Before-tax income necessary to cover the annual living expenses in line D x 0.80 + or - = X = 11 $0 $0 $0

Step 1: Estimate Your Annual Needs at Retirement A. Present level of your living expenditures on an after-tax basis B. Times 0.80 equals: Base retirement expenditure level in today's dollars C. Plus or minus: Anticipated change in living expenditures after retirement D. Annual living expenditures at retirement in today's dollars on an after-tax basis E. Before-tax adjustment factor, based on an average tax rate of % Use Table 16.2 in Text F. Before-tax income necessary to cover the annual living expenses in line D x = $0 Step 1: Estimate Your Annual Needs at Retirement A. Present level of your living expenditures on an after-tax basis B. Times 0.80 equals: Base retirement expenditure level in today's dollars C. Plus or minus: Anticipated change in living expenditures after retirement D. Annual living expenditures at retirement in today's dollars on an after-tax basis E. Before-tax adjustment factor, based on an average tax rate of % Use Table 16.2 in Text F. Before-tax income necessary to cover the annual living expenses in line D x = $0