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Amara Hagy Retirement
Amara Hagy Retirement
Hobbies/ Interests:
Movies
Swimming
Concerts
Arts & Crafts
Travel:
Japan
Arizona
Hawaii
Grandkids:
2
Will take them on
vacations, give them
gifts, ect.
Reference Page
Social Security Income: Regular income provided to people who are low incomed, 65 older, disabled
and is provided by the government.
Pensions: Fixed sum paid to a person, usually as retirement. Many other types of plans.
401k: Contribution plan for retirement that is taxed, employers and employees can put some in it.
4013B: Tax savings retirement plan for public education organizations, non- profit organizations, and
more.
Roth IRA: Not taxed after withdrawn or when contributed..
Traditional IRA: Gives tax deduction for contributions, doesnt tax unless withdrawn after retirement
and then is taxed as regular income.
Home
Will own two houses. One in Michigan, its already paid off, and then one in New Port
Richey, Florida. Will live in home near the end of my life.
2 Bedrooms 2 Baths
Spacious
Located near wetlands and local pool.
Calculations
Current balance: $500.00
Annual addition: $4,500.00
Monthly amount: $375.00
49 years until retirement with 8% interest
Total amount at retirement: $2,599,179.41
Compound Interest
Home in Florida
Price: $165,900.00
$165,900 x .2 = $33,180.00 Down payment
$165,900.00 - $33,180.00 = $132,720.00 Loan
For 14 years at 3.75% interest rate, which make my monthly mortgage payment $1016.64 a month.
https://docs.google.com/a/tcapsstudent.net/spreadsheets/d/1h4L16OBJ3Eo7b1K4G5wSn_zTfJkPATWlv
8DozMhh860/edit?usp=sharing
Spreadsheet url
Websites
http://www.moneychimp.com/calculator/compound_interest_calculator.htm
http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx?loanAmount=132720&years=14.000&te
rms=168&interestRate=3.75&loanStartDate=12%2F12%2F2014&monthlyPayments=93.22&monthlyAdditionalAmount
=0&yearlyAdditionalAmount=0&yearlyPaymentMonth=+Dec+&oneTimeAdditionalPayment=0&oneTimeAdditionalPay
mentInMY=+Jan+2015&pDate=Dec+12%2C+2019&show=false
http://www.zillow.com/homedetails/5631-Decatur-Dr-New-Port-Richey-FL-34652/46350225_zpid/