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Matthew s friend, Gregory, has hired a financial planner for advice on retirement. Considering Gregory s current expenses and expected future lifestyle changes, the financial

Matthews friend, Gregory, has hired a financial planner for advice on retirement. Considering Gregorys current expenses and expected future lifestyle changes, the financial planner has stated that once Gregory crosses a threshold of $920,925 in savings, he will have enough money for retirement. Gregory has nothing saved for his retirement yet, so he plans to start depositing $40,000 in a retirement fund at a fixed rate of 5.00% at the end of each year. It will take for Gregory to reach his retirement goal.
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