MEWC
FMWC
TAC
EEO
TASK
In this Challenge, you will project your future retirement savings based on your salary, savings rate, and employer’s matching contributions. You will also incorporate inflation and expected returns on your savings. See how long it takes to reach your retirement goal and compare that to how long it takes if you double your savings rate. From an Excel perspective, you will reinforce model building concepts from prior challenges (including MIN and XLOOKUP) and learn to use Data Tables. Build your model to project 50 years of working prior to retirement. If you save enough, you won’t need to work all 50 years!
WALKTHROUGH VIDEO PROVIDED BY DAVID BROWN
In this tutorial, David guides you through projecting future retirement savings based on salary, savings rate, and employer contributions. You’ll discover how to:
- Construct a flexible model.
- Utilize Data Tables effectively.
- Calculate your employer’s contributions using MIN.
- Calculate time to reach your retirement goal using XLOOKUP.