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You are planning to save for retirement over the next 30 years. To do this, you will invest 700 a month in a share account
You are planning to save for retirement over the next 30 years. To do this, you will invest 700 a month in a share account and 700 a month in a bond account. The return of the share account is expected to be 9 per cent per year, and the bond account will pay 6 per cent per year. When you retire, you will combine your money into an account with a 8 per cent return per year.All rates are effective annual percentage rates (EARs).
How much can you withdraw each month from your account assuming a 25-year withdrawal period (your retirement)?
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