Neville turned 25 today and he is planning to save $8,000 per year for retirement in a mutual fund starting one year from now and he expects to earn a 5.50% return. He plans to retire 40 years from now, when he's 65 . When he retires he expects to live for another 30 years until age 95 while earning a 7% return. How much can he withdraw each year during his retirement beginning the year after he retires