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Use the following data to calculate the answer to questions 5 - 1 0 Chelsea is planning for retirement at age 7 0 and has
Use the following data to calculate the answer to questions
Chelsea is planning for retirement at age and has come to you, her financial advisor, for your guidance. At years of age, Chelsea has $ invested in various retirement vehicles. She
has an annual income of $ and contributes of her income to her retirement account at the beginning of each month.
She currently lives on $ annually and believes that she can live on that same amount in today's dollars Of course, inflation will affect that number over time.
Chelsea's investments are currently earning an average annual return, and inflation is She believes she'll live until age
Use this information to answer the series of questions. Each question builds on the next.
How much will Chelsea need to withdraw from her retirement account in the first year of retirement? Round to the nearest $
$
$
How much does Chelsea need to have saved in her retirement account by age to meet her retirement needs until age if she keeps her assets invested? Round to the nearest $
Answer:
How much will Chelsea have in her retirement account at age based on her current contribution plan? Round your answer to the nearest $
Answer:
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