You and your spouse decide you will live on a yacht when you retire at 65 (coincidently, you both are the same age, 50). Your house is currently appraised at $450,000 and you expect home prices in your area to increase at the current rate of 1.5% per year. The yacht you desire is a 59 Sea Ray, priced today at $1,750,000. You deem boat prices will rise approximately 0.5% per year. You will sell your house when purchasing the yacht and use those proceeds towards the boat (house proceeds will be net of fees, 3% of the selling price). As well as the home sale and yacht purchase, you will require $60,000 per year for living expenses (includes dock fees!) payable beginning at age 65, end of life is estimated to be your 85th birthday. You will save for the required amount(s) beginning today, age 50. (You deem that the sale of the house and purchase of the boat will occur approximately on the same day, your 65th birthday.) You expect your savings will earn 5.50% per year. Calculate your required savings beginning today to purchase the yacht and begin your dream retirement. Show all cash flows in and out including interest earned for all years.