Sabin is 42 and wants to retire in 20 years. He would like to plan on living until age 100. He currently lives on $100,000 in expenses and expects that he will need about 80% of that if when retires. He can earn 9 percent in his portfolio and expects inflation to be 3 percent annually. He will have a pension in retirement, with a cost of living adjustment tied to inflation. It will start at age 62 and is expected to pay him $30,000 per year (in today's dollars). In addition, he has saved $420,000 in his 401(k). He is Social Security benefit at Age 62, in today's dollars is $20,000. How much must Sabin save yearly in order to have enough saved to retire at 62?

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