Scenario 1: Patricia
Earns the median salary for a museum curator, $50,000.
Is 40 years old and hasn't started saving for retirement yet.
Would like to retire at 67, when she could receive Social Security benefits.

If Patricia decides she can set aside 10% of her salary in saving for retirement:

How much will she need in retirement?



How much will she have at age 67?



How short is she in her savings?