Final Question: You want to start saving for your retirement now. You plan on retiring at 60 . Solve the following problems. - How much do you need to set aside from your current birthday, till the age of 60 , in order to have saved $1 million dollars in an RRSP. Assume you are setting aside an equal payment every two weeks, with a return of 8.5% on the investment. - Now that you have retired, you are going to convert the RRSP to a RIF (registered income fund) that will pay out on a regular basis, replacing the pay cheque you no longer will receive. Assume your RIF gives you a monthly payment with the annual interest rate now at a conservative 5%. Assume you want your RIF to run out on your 95 th birthday, the day you die...I know, morbid right! Show complete solutions