A Mathematical Model for a Retirement Planning

Olanrewaju; G.O; Badmus; N. I; Oyenuga; Y. O

doi:https://doi.org/10.14445/22315373/IJMTT-V65I2P510

International Journal of Mathematics Trends and Technology

Research Article | Open Access | Download PDF

Volume 65 | Issue 2 | Year 2019 | Article Id. IJMTT-V65I2P510 | DOI : https://doi.org/10.14445/22315373/IJMTT-V65I2P510

A Mathematical Model for a Retirement Planning

Olanrewaju, G.O, Badmus, N. I, Oyenuga, Y. O

Citation :

Olanrewaju, G.O, Badmus, N. I, Oyenuga, Y. O, "A Mathematical Model for a Retirement Planning," International Journal of Mathematics Trends and Technology (IJMTT), vol. 65, no. 2, pp. 51-53, 2019. Crossref, https://doi.org/10.14445/22315373/IJMTT-V65I2P510

Abstract

In this paper, we developed a mathematical model to enable workers plan their lifestyle towards and during retirement.Most salary earners often face problem of uncertainty in terms of their livelihood whenever they are about to retire from service. We formulate and solved with an income of an academic staff ofa Nigeria polytechnic used as numerical example in the study. The result showed that an academic staff that plans for retirement ten years before its commencement may be able to live reasonably comfortable for a period of at least twenty five years after retirement.

Keywords

Income, retirement, planning, social security.

References

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