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Gurpreet wants to receive an annual retirement income of $30,000 after-tax starting at age 65 at the beginning of each year. He is currently 45
Gurpreet wants to receive an annual retirement income of $30,000 after-tax starting at age 65 at the beginning of each year. He is currently 45 years old and anticipates that he will live until age 90. Assuming that he can earn 6% on his investments, the inflation rate is 2% and his average tax rate in retirement is 25%. How much money will he need to have saved at age 65 to reach is retirement goals?
- $630,201
- $472,651
- $511,334
- $680,113
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