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Frank is 55 and works for American Airlines as a plane mechanic. He makes $92,568 per year and wants to know how much he will
Frank is 55 and works for American Airlines as a plane mechanic. He makes $92,568 per year and wants to know how much he will have in his account in the company's 401k plan when he retires. The company matches 50 cents per dollar up to 6% of employee contributions and Frank wants to contribute 6% to get "all that free money." He expects his salary remains the same and he expects an average investment return of 9.7%. His current balance is $456,798
Frank wants to retire at age 67, how much will he have in his 401(k) when he retires?
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