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You are currently 27 years old and plan on retiring at age 67. Based on current life tables and family history,you anticipate living another 23
You are currently 27 years old and plan on retiring at age 67. Based on current life tables and family history,you anticipate living another 23 years after retirement (morbid but important to consider). You estimate that you will need $157,212 per year in retirement and can earn 5% per annum on your investments
How much money do yo need today assuming that you will live on your last year of income in the first year of retirement and then draw dow your nest egg at the star of the second year (equivalently ,the end of the first year)?
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