Now it's time for you to practice what you've learned. Suppose that Felix is 40 years old and has no retirement savings. He wants to begin saving for retirement, with the first payment coming one year from now. He can save $8,000 per year and will imvest that amount in the stock market, where it is expected to yield an average annual return of 8.00% return. Assume that this rate will be constant for the rest of his's life. Fellox would like to calculate how much money he will have at age 65. Using a financial calculator yields a future value of this ordinary annuity to be approximately at age 65 . Felix would now like to calculate how much money he will have at age 70. Using a financial calculator vields a future value of this ordinary annuity to be approximately at age 70. Felix expects to live for another 25 years it he retires at age 65 , with the same expected percent return on investments in the stock market. Using a financial calculator, you can calculate that Felix can withdraw at the end of each year after retirement fassuming retirement at age 65), assuming a fixed withdrawal each year and $0 remaining at the end of his life. Felix expects to live for another 20 years if he retires at age 70 , with the same expected percent return on investments in the stock market. Using a financial calculator, you can calculate that Felix can withdraw at the end of each year after retirement at age 70 , assuming a fixed withdrawal each year and $0 remaining at the end of his life