Question
Help Taylor figure out how much money she needs to save to help support herself throughout retirement: - Taylor is 35 years old - Taylor
Help Taylor figure out how much money she needs to save to help support herself throughout retirement:
- Taylor is 35 years old
- Taylor expects to spend around $3,500 a month while in retirement
- Taylor expects to receive $2,000 a month from Social Security, Pension, ect...
- Taylor wants to retire by the age of 67
- Taylor's life expectancy is 95 years old
- Taylor's investment rate of return before retirement is 6%
- Taylor's rate of return during retirement is 5%
- We can assume a salary increase 2% each year
- And we can assume a 3% inflation rate
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