Question 6: Assume that you are presently 30 years old and that you intend to retire when you turn 65. You would like to make sure that you have enough funds at the point of retirement to last until you are 95. You estimate that it would take $50,000 per year, in today's dollars, to maintain a lifestyle that you desire. Assume inflation is 2.8% and that you can get an 8% return on your long term investments until you retire. You also estimate that you should be able to get a 6% return on your investment after you retire. A. How much should you be setting aside annually between now and your retirement to meet your goals? B. What happens if you decide to wait an additional 15 years before starting to save for retirement? How much would you then have to set aside? C. You suddenly got ill and had to retire unexpectedly at 55? If you maintained a standard of living of $50,000 per year, in today's dollars, what age would you be when your money ran out? Question 6: Assume that you are presently 30 years old and that you intend to retire when you turn 65. You would like to make sure that you have enough funds at the point of retirement to last until you are 95. You estimate that it would take $50,000 per year, in today's dollars, to maintain a lifestyle that you desire. Assume inflation is 2.8% and that you can get an 8% return on your long term investments until you retire. You also estimate that you should be able to get a 6% return on your investment after you retire. A. How much should you be setting aside annually between now and your retirement to meet your goals? B. What happens if you decide to wait an additional 15 years before starting to save for retirement? How much would you then have to set aside? C. You suddenly got ill and had to retire unexpectedly at 55? If you maintained a standard of living of $50,000 per year, in today's dollars, what age would you be when your money ran out