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Julia, who is 22 years old, is planning for retirement. She anticipates her living expenses the first year of her retirement at age 70 to
Julia, who is 22 years old, is planning for retirement. She anticipates her living expenses the first year of her retirement at age 70 to be $300,000 and to increase by 4% each year from that point forward. She believes she will live to age 90.
How much should she have in her retirement fund by age 70 if she plans to keep the assets invested and anticipates a 6% investment return?
Round your answer to the nearest thousand and do not use commas or dollar signs (ex: $236,958 should be entered as 237000)
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