Write a research paper on the five variables to consider when planning for retirement.

Write a research paper on the five variables to consider when planning for retirement.
Think about your future self, and realistically consider what your middle adult life (~40-65 years old) will be like…
Your career? – Veterinary Technician
Your salary?
The cost of living in your desired location? (Do your research) – Eastern North Carolina
What you want your lifestyle to be like? Travel, personal care (hair appointments, nails..), gym membership, lawn care, etc… (again be realistic based on your career choice and salary)
With all of this in mind, create a monthly budget.

Budgets should be realistic based on where you plan to live and family size. Again, do your research. For example, food budgets should be more than $100-300/mo. Ask an experienced person or research it based on your desired family size if you are unsure. – Family size (just me)
All budgets should include the following:
· Mortgage/rent
· Phone bill
· Utilities
· Internet/cable
· Car payment
· Insurance (life, health, car..)
· Food
· Gas
· Spending (clothes, fun..)
Additional things that I include:
· Savings
· Child(ren)’s college fund (no kids)
· Lawn care
· Gym membership
· Credit card bill
· Amazon bill
· Student loan bill
Once you have the budget, complete the following equation..
(Monthy spending X 12) X 25 (approximate years spent in retirement) = The amount you will need in retirement
Example: If your monthly spending is $5,000..
(5,000 X 12) = 60,0000 X 25 = $1.5 million (yikes)
This amount should allow you to withdraw 4% of that $1.5 M portfolio each year, taking into account an adjusted inflation of 4% each year. This allows you to maintain a reasonable chance that you will not outlive your money.
Once you have the dollar amount that you will need in retirement, research at least three ways that you can start saving now.
In a word document, type up the following:
· Your itemized budget
Your projected career and salary
· The cost of living in your desired location
· Your estimated family size (partner, kids?)
· Your calculated retirement
· 3 ways that you can start saving now (Be specific. Don’t just say, “Put money away in savings”)
Make sure to cite all of your sources using APA 7th edition.

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