Analysis of the amount of money that Jiaxing teachers will need to retire

Abstract

This research wants to answer the question that how much money do Jiaxing teaches need to retirement. To calculate the money needed to retirement, research refers the model from Investopedia. The model is: Total money required for retirement = Saving during employment + Income after retirement – Expense after retirement (Investopedia, 2019) Then a new testing model is established to make some contributions that if Jiaxing teachers only have salary without any other income. The testing model is: Total money required for retirement = Total salary during employment – Expense during employment + Income after retirement – Expense after retirement. Total salary during employment, expense during employment, income after retirement and expense after retirement are the independent variables while money required for retirement is the dependent variable. Multiple regression analysis will be applied. Research questionnaire for collecting primary data about age, salary, total income, expense and pension from Jiaxing teachers are assessed and analyzed for the final result.