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You are planning for your retirement. You have 3,000 today to invest and plan on putting in 300 a month until you retire in 30
You are planning for your retirement. You have 3,000 today to invest and plan on putting in 300 a month until you retire in 30 years at an interest rate of 11%.The month of retire, you estimate needing 20,000 in expenses. After that, you wish to pull money each month so that there is still 400,000 at the end of your retirement 35 years after you retire. During this time, you can only earn 7% per year.How much can you pull out each month during retirement under this plan?
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