Book Addenda

Sometimes a topic’s full explanation is too detailed to be included in our books. This page provides a deeper dive into those topics.

First Steps For Success

The first book in the Steps For Today® series focuses on creating a firm foundation for building a well-functioning household and life. By providing both step-by-step processes, and meaningful explanations for their use and benefit, the reader learns how to take control of their home and life.

First Steps For Success 3D image

Book Appendices

The appendices for First Steps For Success are available in 8.5 x 11 format. They are available for free in the online store. Please select the link below for the format you wish.

Figure 15 – Saving and Spending

The following chart appears in the Retirement Spending Expectations section of the Planning for Retirement chapter.

The data represented by the Projected Expenses curve was extrapolated from the books Table 2 – Planning Wants versus Needs. For this example, only the essential Need values were used. The Salary curve was generated using a starting salary of $45,000 and an average annual increase of 3%.

The data for the chart’s Investment curve was created using Microsoft Excel’s Future Value function. This function returns the future value of an investment based on periodic, constant payments and a constant interest rate. The interest rate used is 7%. This is less than the historical average for market investments. There are 12 payments (nper) a year. The payment (investment) amount increases with time as follows: $50-years 1 through 5, $100-years 6 through10, $150-years 11 through 15, $200-years 16 through 20, $300-years 21 through 30, and $400-years 31 through 45.

At the retirement age of 65, new investment stops and the investments are now used to pay expenses. Note too that investment growth ends at this point as well. This may not be true-to-life. One hopes that their investment nest-egg continues to grow during retirement. But that depends on how it is invested and/or current market conditions. Some opt to place their funds into a product that has less risk of loss. But these typically have a much lower rate of return as well.