Retirement planning is designed to answer the question “how much”.
How Much Will it Cost to Retire?
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How Much income will you have in retirement?
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How Much income will you need to generate for retirement?
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How Much do you need to save each month?
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How Much will you spend each month before you retire?
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How Much will you spend each month after you retire?
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How Much return should you expect from your investments after you retire?
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How Much investment risk do you want?
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How Much investment risk do you have?
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How Much investment risk do you need?
How to use a
You Can Use any Retirement Calculator you like, just google Retirement Calculator.
First, enter your current age, income, savings balance and how much you save toward retirement on a monthly basis. That’s enough information to get an overview of where you stand today. Be sure to use accurate data in the retirement calculator.
allow you to add specific Social Security options, adjust your spending level in retirement, change expected retirement age and much, much more.
Comparing Results
You can easily adjust the inputs on your Retirement Calculator to see how various choices, like saving more money or planning to retire later, might impact your retirement calculations – and your goals for retirement.
You can also use any Retirement Calculator you like. Compare the Retirement Calculator results with your .
If your BayRock plan says you have $117,000,000 available at the end of your plan, and your Retirement Calculator says you run out of money at age 53, guess what… You have something wrong in your BayRock plan.
Capstone Review 50 Points
Understanding the elements of your financial plan will help you prepare for your Capstone Assignment. In order to get all 50 points for this week’s assignment, you will need to include the following elements.
Add Ten Years to Your Age
Add Ten Years of 401k Contributions to Your Plan
If you missed class, you’ll need to watch the Recording to be sure you understand this portion of the assignment. Please don’t email me about this.
Retirement Analysis Screenshots
The detailed retirement analysis tool will help you determine whether you are on track for a successful retirement. Monte Carlo simulations, stress tests, and viewing specific scenarios can help you evaluate your retirement plan and see the impact of potential changes.
Moving The Needle
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Probability of Success – Before Asset Allocation
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Probability of Success – After Asset Allocation
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Action Items – Shows an Overview of Your Changes
Profile Screenshots
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Profile/Net Worth/Investment Accounts
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Profile/Goals
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Profile/Income
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Profile/Savings
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Profile/Expenses
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Profile/Family
Asset Allocation Screenshots
In order to determine whether your assets are properly allocated, it is necessary to link all of your investment accounts here. Doing so will allow you to obtain a more accurate showing of how any of your allocations across cash, stocks, fixed income, and / or other financial vehicles relate to one another.
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Asset Allocation Before Making Changes
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Asset Allocation After Making Changes
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Asset Allocation – Summary
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Asset Allocation – Detail
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Class Collaboration Screenshot
Grab a screenshot of the Task posted in your BayRock Plan
Other Screenshots from Your Profile
Remember to save this week’s assignment, this is the basis for your Capstone Assignment (worth 200 points!).
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Profile/Goals
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Profile/Income
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Profile/Savings
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Profile/Expenses
Screenshots Data Cards from Dashboard
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Dashboard/Balance Sheet
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Dashboard/Balance Sheet/Current
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Dashboard/Balance Sheet/Details
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Dashboard/Liquidity
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Dashboard/Budget
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Dashboard/Debt
Retirement Calculator Screenshot
Include a screenshot from the and then be sure to comment as instructed below.
Include a short summary (150 – 400 words) to highlight:
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What you learned in this week’s assignment
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How did your compare with your financial plan?
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Questions you have regarding your plan
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Over $5,000,000 in your plan? Be sure to tell me why you have so much left at the end of your plan. If you missed the announcement in class, be sure to add 10 years to your age as well.
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How will you use this week’s assignment to prepare for your Capstone
Week 10 Quiz (Screenshot)
BE SURE TO SUBMIT ONE PDF FILE.
