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Maria estimates she will need $35,000 per year in retirement. Social Security will pay $12,000 per year, so her savings must generate $23,000 per year
Maria estimates she will need $35,000 per year in retirement. Social Security will pay $12,000 per year, so her savings must generate $23,000 per year for 20 years after she retires at age 67, based on actuarial tables for life expectancy. If the return on savings is zero, how much does she need at age 67?
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
