Ken and Kim are currently 31 yrs old and expect to retire at age 67.

They wish to have (in addition to their social security income) a retirement income from their portfolios in the amount of $12,500 gross of any taxes per month and with to plan for a 30-year retirement.

 

How much should their investment/retirement portfolios be in order to meet their goal?

 

You can assume a 4% portfolio distribution rate during retirement?