Your brother, Eric, has asked for your advice on creating a retirement plan. He is 35 years of age, earns $55,000 per year with average raises of 4% per year, and plans to work until he reaches the age of 65. His company offers a 401(k) plan with matching contributions of up to 8% of his income that has been earning an average of 10% per year. Could someone please show me how to develop a spreadsheet that shows how much he can expect to have in his retirement account when he turns 65 if he begins depositing 8% of his salary now?
