Yea i really need help with this problem i don't even know where to start?
We want to retire in 40 years, and we shall need $65,000 income per annum during our retirement which will last 35 years. We can save $60,000 annually during the first 9 years. We estimate that from year 6 till 10 we shall return to school for a graduate degree, which will cost $30,000 yearly in actual cash flow and opportunity cost expenses. Afterward, during years 27 to 40, our father will need nursing home care for twenty years. He has to give his house and $70,000 annually to the nursing home. Furthermore, we shall buy a yacht costing $150,000 in year 40. Additionally, we?ll send our niece to college which will cost $70,000 for 4 years starting in year 16 from now. We would like to know what the pension fund should be to finance our retirement. Second, what annual savings should we accumulate from years 30 to 40 to be able to fund all the aforementioned expenses and our retirement. We have a discount rate of 10%.

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While cheering for the auto bailouts why was this forgotten?
The White House fairy tale about the Happily Ever After Auto Bailout is missing a crucial, bloody page. While President Obama bragged about "standing by American workers" at a rowdy United Auto Workers meeting Tuesday, he failed to acknowledge how the Chicago-style deal threw tens of thousands of nonunion autoworkers under the bus. In a campaign pep rally/sermon billed as a "policy speech," Obama nearly broke his arm patting himself on the back for placing his "bets" (read: our money) on the $85 billion federal auto industry rescue. "Three years later," he crowed, "that bet is paying off for America." Big Labor brass cheered Obama's citation of GM's "highest profits in its 100-year history" as the room filled with militant UAW chants of "union made." "Union made" -- but who paid? Scoffing at the criticism that his bailout was a massive union payoff, Obama countered that all workers sacrificed to save the auto industry. "Retirees saw a reduction in the health care benefits they had earned," Obama told the congregation, er, crowd. "Many of you saw hours reduced," he sympathized, "or pay and wages scaled back." Let's clear the fumes (again), shall we? The bailout pain was not distributed equally. It was redistributed politically. Bondholders standing up for their property and contractual rights got shortchanged and demonized personally by the president. Dealers and suppliers faced closures based on political connections and lobbying clout, rather than neutral efficiency evaluations. And as I first reported in September 2010, in the rush to nationalize the auto industry and avoid contested court termination proceedings, the White House auto team schemed with Big Labor bosses to preserve UAW members' costly pension funds by shafting their nonunion counterparts. These forgotten nonunion pensioners (who worked for the Delphi/GM auto parts company) lost all of their health and life insurance benefits. Hailing from the economically devastated Rust Belt -- northeast Ohio, Michigan and neighboring states -- the Delphi workers had devoted decades of their lives as secretaries, technicians, engineers and sales employees. Some have watched up to 70 percent of their pensions vanish. They've banded together to seek justice in court and on Capitol Hill under the banner of the Delphi Salaried Retiree Association.

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The Autoworkers Obama Left Behind, agian?
The White House fairy tale about the Happily Ever After Auto Bailout is missing a crucial, bloody page. While President Obama bragged about "standing by American workers" at a rowdy United Auto Workers meeting Tuesday, he failed to acknowledge how the Chicago-style deal threw tens of thousands of nonunion autoworkers under the bus. In a campaign pep rally/sermon billed as a "policy speech," Obama nearly broke his arm patting himself on the back for placing his "bets" (read: our money) on the $85 billion federal auto industry rescue. "Three years later," he crowed, "that bet is paying off for America." Big Labor brass cheered Obama's citation of GM's "highest profits in its 100-year history" as the room filled with militant UAW chants of "union made." "Union made" -- but who paid? Scoffing at the criticism that his bailout was a massive union payoff, Obama countered that all workers sacrificed to save the auto industry. "Retirees saw a reduction in the health care benefits they had earned," Obama told the congregation, er, crowd. "Many of you saw hours reduced," he sympathized, "or pay and wages scaled back." Let's clear the fumes (again), shall we? The bailout pain was not distributed equally. It was redistributed politically. Bondholders standing up for their property and contractual rights got shortchanged and demonized personally by the president. Dealers and suppliers faced closures based on political connections and lobbying clout, rather than neutral efficiency evaluations. And as I first reported in September 2010, in the rush to nationalize the auto industry and avoid contested court termination proceedings, the White House auto team schemed with Big Labor bosses to preserve UAW members' costly pension funds by shafting their nonunion counterparts. These forgotten nonunion pensioners (who worked for the Delphi/GM auto parts company) lost all of their health and life insurance benefits. Hailing from the economically devastated Rust Belt -- northeast Ohio, Michigan and neighboring states -- the Delphi workers had devoted decades of their lives as secretaries, technicians, engineers and sales employees. Some have watched up to 70 percent of their pensions vanish. They've banded together to seek justice in court and on Capitol Hill under the banner of the Delphi Salaried Retiree Association. Townhall Columnists Michelle Malkin

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