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Brett is a 26 year-old researcher at Texas Parks and Widlife. He makes 558,000 per vear. Your firm uses an end age of 95 and

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Brett is a 26 year-old researcher at Texas Parks and Widlife. He makes 558,000 per vear. Your firm uses an end age of 95 and a top-down ratio of 77%. Brett has 1 kid and wants to have another. Hed lak, to make sure his heirs get $1,100,000 at the end of his life. He wants to be ageressive in his investments whlle he works ( 9% rate of retum), and conservative during retirement ( 5% rate of retum). Average inflation of 2.5% is anticipated He does not expect to get social security, so he doesnt want it to be factored in He wants to know how much the needs to sive in his 401k to hive a successful retirement if he retires at age 67. For step 3 - Calculate the amount he will need to have saved for retirement to fund his needs and bequest goal (use a positive inumber, round to the nearest whole dollar, don't forget to use BGN model)

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