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# Retirement Planning

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Thomas is considering retiring and migrating to a rental property in the Virgin Islands. Thomas presently owns a home appraised at \$595,000 with \$300,000 remaining on the home loan. He has about \$350,000 in savings right now. The Virgin Island rent will be \$1,000 a month and he estimates that he and his wife can live on \$3,000 a month in the Virgin islands. He figures that he will live for 25 additional years and can earn 5% in his funds.

a. Does he have sufficient resources to retire in the Virgin Islands?
b. A friend noted that he also will get social security benefits but also will have top pay taxes on funds coming from his tax-deferred retirement fund and the social security. If he expects \$1,500 in social security income and 18% of the income coming from the retirement funds are deducted for taxes, can he afford the retirement plan at this time?

https://brainmass.com/economics/finance/retirement-planning-411969

#### Solution Preview

Please refer attached file for better clarity of functions in MS Excel.

a. Does he have sufficient resources to retire in the Virgin Islands?

Value of home=\$595,000.00
Loan due= \$300,000.00
Net expected value of home=595000-300000=\$295,000.00
Savings=\$350,000.00
Total worth in hand=350000+295000=\$645,000.00

Let us see what monthly payments he can get at 5% rate.
Present value of annuity=PV=\$645,000.00
Interest Rate=RATE=5%/12=0.4167% per month
Number of ...

#### Solution Summary

Solution determines if the current financial resources can meet the retirement target in the given case.

\$2.19

## Retirement Plan Proposal and Communication Plan

Retirement Plan Proposal and Communication Plan

I really need help developing this proposal. I don't have much experience with proposals.

You are an HR leader in a newly formed organization with 150 employees. Management has asked you to provide them with a proposal that describes two to three retirement plans that could be offered. In the proposal, you must identify specific requirements of the Employee Retirement Income Security Act of 1974 the organization would need to fulfill.

In addition to the proposal, management has asked you to design a communication plan that encourages employee participation for one of the proposed retirement plans.

Prepare a proposal and communication plan. In your communication plan, include components that encourage participation in the retirement plan. Answer the following questions:
o How will you communicate information to employees?
o How often will you communicate information to employees?
o What tools or methods will you use to communicate the plan?
o How will you overcome resistance to participation?
o How will you get employees to enroll?
o How will you communicate the plan to make it attractive?

The response addresses the queries posted in 1854 words with 5 references.

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