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Find the retirement calculator at www.moneychimp.com to answer the following questions. Suppose you have $4,000,000 when you retire and want to withdraw an equal amount
Find the retirement calculator at www.moneychimp.com to answer the following questions. Suppose you have $4,000,000 when you retire and want to withdraw an equal amount each year for the next 35 years. How much can you withdraw each year if you earn 8% What if you can earn 12%? What if the market failed and your earnings dropped to -.7%. How long would it take to drain your account if you did nothing about this loss pattern
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