Please Detail the Steps Associated with Retirement Needs Calculations, and Indicate

question 15

Essay

Please detail the steps associated with retirement needs calculations, and indicate whether the investment rate, inflation rate, or real rate is used in the step.

---

Definitions:

Intestacy Laws

The body of law that governs the distribution of a deceased person's estate when they die without a valid will.

Estate

The collective assets and liabilities of a person, especially considered in the context of their will or the administration of their property after death.

Codicil

A written supplement or modification to a will. A codicil must be executed with the same formalities as a will.

Per Capita

A statistical measure that divides an aggregate amount by the number of units or individuals to determine the average amount per person.