Don and joyce are 36 years old don makes 38000 per year and


Qusetion: Don and Joyce are 36 years old. Don makes $38,000 per year and Joyce makes $33,000. Don has a 401(k) and Joyce has a pension. Don is saving $200 per month and has a $200 match. Don currently has $23,000 in that 401(k). They would like to retire at 63 years old and plan to age 100. They want to retire debt-free with 125% of their annual salaries adjusted for inflation, which is estimated at 2.0%. Raises are expected to match inflation. You estimate Don's social security at age 65 to be $32,000 and Joyce's at $28,000. Social Security increases at 7.5% for each year of delay to age 70. Don has JP Morgan as the manager of his 401(k). Don has the following in his 401(k): Equal percentages of: JGVRX, OGVCX, and JIVMX, and has averaged 9.82% over the last 5 years. Joyce has found that she should estimate her pension at 1.75% of her highest salary for every year of service and she currently has 5 years of service. At retirement, they would like to withdraw $110,000 to build their dream giant anteater farm. In addition, at death they would like to leave $75,000 for the care of their anteaters and $7,500 per year for their favorite charity, "Save Pangolins." How much will they need at retirement and how much do they actually have?

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Management Theories: Don and joyce are 36 years old don makes 38000 per year and
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