When you start saving for retirement can have a huge impact on your lifestyle once you retire.
When you start saving for retirement can have a huge impact on your lifestyle once you retire.
Initial Response Post:
Open the Investment Calculator.
Enter an amount between $100 and $500 that you think you can afford to save each month for retirement into the spreadsheet.
Calculate how many years it will be until you reach age 67. Enter this amount into the spreadsheet.
Choose an interest rate between 1% and 7% and enter it into the spreadsheet.
Add 10 years to your previous age calculation to determine how much more you could have accumulated if you started 10 years ago.
The investment calculator will show you how much you can save if you invest today and how much you could have accumulated if you had started your investing 10 years ago. In your post, list the amounts you chose and calculated. Also state the results of your two investments.
How much more would you have for your retirement if you had started saving 10 years ago? Did the results surprise you in any way? Explain. Do you think the amounts you have calculated will be enough to retire on?
Review an example of an initial response for this Discussion.
Peer Reply 1:
You are an investment advisor to your fellow classmate. After doing these calculations, your classmate is upset to learn how much more could have been accumulated with 10 more years of investing. You can help! Find a classmate’s initial post that has not yet been replied to by a fellow classmate.
Open the Reply 1 Investment Calculator.
Enter the total amount that would have been saved by investing 10 years ago from your classmate’s post.
Enter the same interest rate your classmate chose for their investing.
Enter the number of years it will be from now until your classmate turns 67.
The spreadsheet calculates the amount of money your fellow classmate will need to save each month in order to obtain the same future amount as if s/he had started saving 10 years ago.
Explain to your fellow classmate that all is not lost. Share the amount you calculated in your spreadsheet and explain how s/he can arrive at the desired future value.
Has doing these calculations inspired you to start saving more for retirement? What might you tell someone younger than you about saving early for retirement?
Review an example of a peer reply 1.
Peer Reply 2:
Find a thread in the Discussion Board that you find interesting and join the conversation by replying to a post. Post several sentences on this topic that are thoughtful and advance the discussion mathematically.
**If you would like to do further research on this topic, the Initial Response Post uses the formula for the Future Value of an Annuity. The Peer Reply 1 uses the formula for Sinking Fund.
Discussion Overview/Directions
In this unit’s Discussion, you will interact with your classmates on the course content. Remember, your goal for Discussion Assignments is to ensure that:
Responses are on topic, original, and contribute to the quality of the Discussion.
Responses make frequent, informed references to unit material.
Responses are clearly written.
You submit two or more Discussion Board replies to classmates as described in the Discussion Question that are thoughtful and advance the Discussion.
Keep in mind that when you post, you should include references to the textbook and any material found online. The class is all about sharing knowledge, so use Discussions as a way of creating a community resource for yourself and your classmates.
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