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Twenty years ago, you invested $10,000 in AAPL at $5.00 per share (split adjusted). Today the stock is trading for $110 per share. You are
Twenty years ago, you invested $10,000 in AAPL at $5.00 per share (split adjusted). Today the stock is trading for $110 per share. You are now 50 and preparing to retire in ten years at age 60. Assume you need $7,000 per month starting the first month of retirement; you estimate that the $7,000 needs to increase by 3% annually until your life expectancy at age 90. The annuity will earn an annual rate of 6.0%; use as the discount rate from today until retirement as well. What is the amount of money you need to fully fund retirement TODAY?
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