Assume you live 30 years after retiring and must provide 100% of your retirement funds because you
Question:
Assume you live 30 years after retiring and must provide 100% of your retirement funds because you do not expect the government or companies you have worked for to provide any retirement income.You have calculated that you need $150,000 per year to not have to work again.Assuming you can invest your retirement funds at 9% and that you will use your entire savings account EXCEPT for $500,000, how large a "nest-egg" would you need at retirement to support your "golden years?Assume you live 30 years after retiring and must provide 100% of your retirement funds because you do not expect the government or companies you have worked for to provide any retirement income.You have calculated that you need $150,000 per year to not have to work again.Assuming you can invest your retirement funds at 9% and that you will use your entire savings account EXCEPT for $500,000, how large a "nest-egg" would you need at retirement to support your "golden years?