University Finance Report: Financial Analysis of Retirement Plan

This report provides a comprehensive analysis of the financial resources required for retirement planning. It begins by outlining the financial resources needed, including living expenses, and then details the available resources such as home equity, credit facilities, investments, and savings. The report calculates the additional coverage needed by subtracting the available funds from the required funds. The analysis includes tables that clearly present the financial data, such as the annual and total expenses, available resources, and the shortfall that needs to be covered. The conclusion emphasizes the importance of adequate coverage to achieve financial goals after retirement. The report underscores the necessity of securing a retirement insurance plan to maintain the desired standard of living post-retirement.

Running head: FINANCE
Finance
Name of the Student:
Name of the University:
Authors note:

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Table of Contents
Introduction......................................................................................................................................2
Financial Resource Required...........................................................................................................2
Resources Available........................................................................................................................2
Additional coverage.........................................................................................................................3
Conclusion.......................................................................................................................................3
Reference.........................................................................................................................................4

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Introduction
The report aims to provide advice regarding the insurance coverage required for
achieving the retirement plan. The financial arrangement that replaces the income from
employment after retirement is termed as retirement plan (Abbas et al. 2015). The aim of this
report is to provide sufficient assistance in planning the future and retirement options.
Financial Resource Required
Statement showing Financial Resources required after retirement
Particulars Amount
Living Expenses $11,500,000.00
Home $2,300,000.00
Own car $150,000.00
Travelling $2,500,000.00
Resources Required $16,450,000.00
The table above provides the details of the financial resources required. The living
expenses is determined by multiplying the annual expenses with the expected life expectancy.
The life expectancy that is taken for this calculation is the 90 years. Hence for calculating the
total living expenses annual expenses is multiplied with the 25 years. The other expenses are the
financial resources that are expected after retirement.
Resources Available
Statement showing Financial resources available
Particulars Amount
Own Home $350,000.00
Credit card facility $35,000.00
Investment $450,000.00
Investment in 401K plan $75,000.00

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Savings for education $44,000.00
Annual Savings $7,560,000.00
Total Available resources $8,514,000.00
The table above indicates the resources that are available after retirement. This includes
various investments and assets that are currently available. The table also takes into account the
details of the accumulated annual savings. The accumulated savings is calculated by multiplying
the annual savings amount with the number years to the retirement that is 27 years.
Additional coverage
Statement showing Additional Coverage required
Particulars Amount
Funds Required $16,450,000.00
Funds Available $8,514,000.00
Additional Coverage Required $7,936,000.00
The additional coverage required is calculated by deducting funds available from the
funds required after retirement. The additional coverage is the amount that is required to be
arranged from retirement insurance plan so that post retirement living standard can be
maintained as planned (Iordanous et al. 2014).
Conclusion
Therefore based on the above discussion it can be said that in order to achieve the
financial goals after retirement the individual should take adequate coverage.

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Reference
Abbas, Assad, et al. "A cloud based health insurance plan recommendation system: A user
centered approach." Future Generation Computer Systems 43 (2015): 99-109.
Iordanous, Yiannis, et al. "Projected cost comparison of Trabectome, iStent, and endoscopic
cyclophotocoagulation versus glaucoma medication in the Ontario Health Insurance
Plan." Journal of glaucoma 23.2 (2014): e112-e118.