You realize that you must start planning for retirement. Explain how you will prepare yourself for a financially secure retirement. Consider the following aspects: how much is currently in the bank for retirement, years until retirement, and expected annual rate of return.  First, calculate through estimations and present value calculations, how much you will need to save for retirement based on expected expenses in retirement and years of retirement.  Second, calculate how much money you must invest each year from now until retirement to reach your retirement savings goals.

Your essay should include a paragraph of discussion and assumptions and then the first calculation with details (e.g., formula used or what was put into technology).  The essay would then have a second paragraph of discussion and assumptions to generate the second calculation, and then the calculation itself, again with details.  The final submission is expected to be 1 to 2 pages.

IMPORTANT:  You may use real data or make up data and information.  In other words, you do NOT need to share your actual savings or any other personal information.  You do NOT need to say if the data are real or made up.  However, the calculations need to be based on whatever data and assumptions are presented in the paragraphs.