You have 20 years until retirement and your current expenses are

$20,000 per year. Using Table 14-1, calculate your future expenses in retirement.

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Table 14-1: Estimating First-Year Retirement Income Needs (at 4% Inflation per Year) Years to Total Expenses in Today's Dollars Retirement $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 10 $29,605 $44,407 $59,210 $74,012 $88,815 $103,617 15 $36,019 $54,028 $72,038 20 $43,822 $65,734 $90,047 $109,556 $108,057 $126,066 25 $53,317 $79,975 30 $64,868 $97,302 35 $78,922 40 $96,020 45 $118,383 $144,031 $116,824 $175,235 $87,645 $131,467 $153,379 $106,633 $133,292 $159,950 $186,609 $129,736 $162,170 $194,604 $227,038 $157,844 $197,304 $236,765 $276,226 $192,041 $240,051 $288,061 $336,071 $233,647 $292,059 $350,471 $408,882