Financial Planning for Retirement Stephanie Bachman, DOB: 9/12/1972, works as a

Financial Planning for Retirement
Stephanie Bachman, DOB: 9/12/1972, works as a Laboratory Manager at UPMC Lititz. She is a 51 year old single Mom of 3 (Kids ages are 9, 14, 16). At the beginning of April 2024, she has 510,000 for retirement and wants to be able to project how much this will grom over the course on the next 15 – 20 years. You will need to devise an adjustable spread sheet to include the growth of this money over the years and at what age she could reasonably retire. You must include all of her expenses and all of the income she has coming in. She has a $10,000 Pension with the State of SC that she may access at age 60 (not included in the 510,000 that will need to be invested to yield the most growth over time – may want to include a conservative percentage of gain for this each year). The spreadsheet must be adjustable in all aspects to include all the formulas that you utilize to project this as it will be used for many other scenarios.
Stephanie’s salary is $101,920/year ($5108.92/month cleared). She gets child support every month in the amount of $396 and gets $900/month from a Trust Fund. She puts $1000 away in each college account for her 3 children. She is mostly able to save $550/month