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Question 5 1 pts Your clients want help figuring out how much they need to save each month so that they can reach their retirement
Question 5 1 pts Your clients want help figuring out how much they need to save each month so that they can reach their retirement goal. If your clients are currently 40 years old and want to retire when they are age 68, how much do they need to save at the end of each month to reach their goal? They currently have $190,000 saved for retirement. Assume the following: Your clients currently spend $100,000 (in today's dollars), and they want to spend 90% of that in retirement General inflation is about 2.9% per year Your clients can earn an annual rate of return of 7.6% on their investments Your clients are both the same age and want to retire at the same age You estimate that your clients' planning horizon should be until age 92 Your clients don't plan on leaving any money to their children when they die
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