4. Michael Johnson recently moved to Hartford, CT. to accept a new job. He is currently 60 and is planning for his upcoming retirement. He has $400,000 in his retirement account and would like to have doubled that by the age of 67. However. He became permanently disabled after getting into a vehicle accident a few months ago.

• If its average earnings were $65,000. What would be his Social Security disability benefits?

• Social Security disability benefits and at age 65 and Michael will switch over to Social Security retirement benefits? What will be is retirement benefit amount at age 65?

• How much will Michael earn each year on his $400,000 portfolio if it earns 4% annually?

• How large an amount could be withdrawn from his account each month starting at age 60? / , 25 Years of retirement.