Jim has just celebrated his 45th birthday and is planning to retire at the age of 65. In order to support himself after he retires, he has decided to save a portion of his salary each year for the next ten years. He will receive his first salary when he turns 46, and it will be $200,000. He expects his salary to increase at a rate of 2% per year.

To save for his retirement, Jim will set aside $20,000 of his salary each year for the next ten years. This money will be invested in an account with an Annual Percentage Rate (APR) of 6%, which will be compounded annually. From ages 56 to 65, Jim will set aside 10% of his salary each year, which will be invested at 4%.

Jim plans to withdraw all his savings in 10 years to purchase a property he expects to appreciate by 50% at retirement. Jim anticipates living until the age of 90 and wants to be able to withdraw $40,000 per year from his savings after he retires. His first withdrawal will be when he turns 66. Please note the interest rate after retirement is 3% and is expected to remain constant until the age of 90.

Will Jim have enough money to meet his post-retirement financial needs?