5. If you save up the million dollars (in terms of todays dollar) by the time of your retirement at age 65, how much can you withdraw each month (beginning one month after your retirement) in equal dollar amounts, if your expected life span is at age of 85?

3:03 PM 1 29%, I ..OOO AT&T Case financial planning(2).doc Done Case Details: Financial Decisions and Planning It is now December 2016. This is a very special year for you. You are not only going to graduate soon, but also find a job that you like. You will start to work for ABC Inc. officially in the beginning of January 2017. At age of 23, you just want to have fun. But your parents have been constantly bugging you to plan ahead so you manage your money wisely. Your boyfriend/girlfriend also mentioned that he/she wants to have a family with you. So you finally decide to make a plan on few of the major life decisions marriage, house. children, and retirement. Your Plan (Given information l. You plan to marry your college sweetheart 3 years from now. Average wedding expense is about S25,000-S30,000 (in today's term). Unfortunately you are on your own and your parents will not share the expense with you. 2. You plan to buy a house 2 years after your marriage in Camarillo. A single family home for a 2br/2bth costs about down payment, plus 2% estimated closing cost. 3. You also plan to have one child 2 years after the marriage. You expect to provide for your child's college education. The tuition is set at UC level (in today's term) You plan to retire at age 65. You want to live comfortably after retirement. Assumed Information you disagree with some ofmy assumptions, please provide vour own assumptions with explanations