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Retirement Planning Advice: Investment, Goals, and Expenses

Crystal's Security Investments and SPAXX

1. Crystal currently holds some security investments. What do you recommend she do with the SPAXX? What goals, if any, should they be used to fund? Please justify your answers.

2. Crystal also has a goal to contribute 10% of her gross salary to the ORP for retirement. Crystal’s ORP account allows her to invest in publicly traded security or fund. Which funds or stocks are adequate for Crystal’s retirement plan? Justify your answer.

3. Crystal is looking forward to retirement and hopes to be able to retire when she is 65.Crystal and James would like to maintain their current standard of living during retirement and plan to remain in Edinburg. In order to maintain this standard of living,they estimate that they will need 80% of their current annual household expenses. They know they can expect to receive an annual benefit from social security of $13,000
(Crystal). Given her health and family history, a conservative estimate for her life expectancy is 95 years. Don’t forget to include the employer match in your calculation.

a. What lump sum (nest egg) amount will Crystal need at retirement in order to achieve her retirement goals? Assume a 7.05% rate of return on investments and inflation of 1.95%. The return on her portfolio will drop to 5% in retirement.

b. Will the current savings goal of 10% of Crystal’s salary to her ORP per year be enough? If the current savings goal is not enough, how much more will Crystal need to save annually?  

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