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Assumptions Salary: $ 110,000 Match: 3% Expected Return: 7% Years: 35 Question Part One #1 If you save 15% of your salary each year, how
Assumptions | ||
Salary: | $ 110,000 | |
Match: | 3% | |
Expected Return: | 7% | |
Years: | 35 | |
Question | Part One | |
#1 | If you save 15% of your salary each year, how much money would you have when you turn 65, assuming you earn a 7% annual return on your investments? | |
Annual Savings | ||
Total Amount at age 65 | ||
#2 | During retirement, your return drops to 5% annually as you decide to invest more conservatively to protect your principal. How much could you spend each year and not have your money run out before age 95? |
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