Planning for Retirement. N.C. Department of Environment and Natural Resources. Why is Retirement Planning Important?. Good Question! Here are some more questions…..Pop Quiz!. At what age do you plan to retire?. Never! I’ll have one foot in the office and the other in the grave! 70 or above
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N.C. Department of Environment and Natural Resources
Here are some more questions…..Pop Quiz!
(What is your life expectancy)
In 2008, the average replacement percentage of average final compensation for all new retirements in the N.C. Teachers and State Employees’ Retirement System was ____%.
A 65-year-old man has a 20% chance of living to age 90.
A 65-year-old female has a 32% chance.
For married couples, there is a 45% chance that one spouse will live to this age.
Source: Vanguard Investments at www.vanguard.com
Underestimating life expectancy can derail any retirement plan!How Long Will You Be In Retirement?(What is your life expectancy?)
In 2007, the average replacement percentage of average final compensation for all new retirements in the N.C. Teachers and State Employees’ Retirement System was ____%.
To Bridge the Gap!
And when should you get started?
**Past performance is not a guarantee of future returns.
Cost of 1 Gallon of Milk = $4.00
In the 1960’s, $4.00 would have bought you:
1 gallon of milk ($.60)
2 dozen oranges ($.90)
10 gallons of gas ($.25/gallon = $2.50)
You could also buy:
A new house for $15,000
A Ford Mustang for $2,368
If the cost of milk were to increase over the next 50 years at the same rate that it has increased since 1960, the price of milk would be….
No way to know for sure. Keep in mind: