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4) Jill is 42 years old, currently earns $70,000. Her wage replacement ratio is 80%. She expects inflation will average 3% and her portfolio can
4) Jill is 42 years old, currently earns $70,000. Her wage replacement ratio is 80%. She expects inflation will average 3% and her portfolio can earn 9.5% annually. She hopes to retire at age 62 and expects to live until age 90. If her expected Social Security benefit in todays dollars is $15,000, what is the annual amount she is looking to replace at retirement in todays dollars?
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