salary: $75,000

bonus: $15,000

Suppose you get a job offer from an investment bank, and your compensation package is the following: your annual income (including salary and bonus) will be the same as median salary and bonus in investment banking but your basic salary is 70% of your annual income while bonus takes 30%. Your employer will match your deposit in your 401k plan but the amount of match money will be capped by 6% of your salary. If you decide to input 8% of your salary in your 401k account each month and expect to make 10% return, at time when you retire, how much money will you have in your 401k account? If you need $1.5 million dollars for your retirement life, based on the above investment in your 401k plan, at what age can you retire to enjoy life?

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