Question
John has been employed by Phone Services, Inc. for 13 years, and currently earns $450,000 per year. John saves $40,000 per year. He plans to
John has been employed by Phone Services, Inc. for 13 years, and currently earns $450,000 per year. John saves $40,000 per year. He plans to pay off his home at retirement and live debt free. He currently spends $80,000 per year on his mortgage. What do you expect John’s wage replacement ratio to be based on the above information?
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Step: 1
To calculate Johns wage replacement ratio we need to determine his retirement income and compare it ...
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
4th Canadian edition
134724712, 134724713, 9780134779782 , 978-0134724713
