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Reginald is a 60 -year-old manager who is currently earning $100,000 a year, has $850,000 in savings earning 2%, and expects $35.000 a year in
Reginald is a 60 -year-old manager who is currently earning $100,000 a year, has $850,000 in savings earning 2%, and expects $35.000 a year in Social Security at age 67 . According to his financial plan, approximately 80% to 90% of his current income is required to maintain the same standard of living in retirement. He can purchase a 5% pension with $1 million in retirement. Which of the following would count as a SMART (Specific, Measurable. Attainable, Realistic, and Timely) retirement goal? Retirement when $1 million is saved through earnings and interest income. Retire when $85.000 per year can be earned from savings and interest income. Save $150.000 over 7 years from earnings and interest income to fully retire at age 67. Keep saving until retirement at age 67
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