Question
Suppose you wish to retire 33 years from today. You determined that you would need $250,000 per year after you retire, with the first retirement
Suppose you wish to retire 33 years from today. You determined that you would need $250,000 per year after you retire, with the first retirement funds withdrawn one year from the day you retire and that you will need to make 25 such withdrawals. If you can earn 5% per year on your retirement funds. (PLEASE SHOW WORK IN EXCEL)
- How much must you deposit in an account today (lump sum), so that you may have enough funds for retirement?
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Rework (a) assuming you can earn 5% interest until you retire then will earn only 4% thereafter.
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Startup CFO The Finance Handbook For Your Growing Business
Authors: Kyle Brennan
1st Edition
1790959403, 978-1790959402
