Retirement Planning in 200-300 words

Please respond to the following discussion topic. Your initial
post should be a minimum of 150 words in length. Then, make at least two
thoughtful responses to your fellow students’ posts.

Project your Social Security benefits at the organization’s
website. Many retirement plans suggest that you should create a lump sum
of cash to generate enough interest income equal to about 80% of your
current income. Calculate how much money you would have to save each
month from now until retirement in order to achieve a lump sum large
enough to yield interest income equal to 80% of your current income. How
much would you need to save each month? Let’s discuss.

If you would like some help with the time value of money
calculations, Excel can be a very handy tool. The site below provides
instructions on how to do time value of money calculations in excel:

http://support.content.office.net/en-us/coach/excelcoach_FV_PartI.html