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You are trying to decide how much to save for retirement. Assume you plan to save $ 6 , 5 0 0 per year with
You are trying to decide how much to save for retirement. Assume you plan to save $ per year with the first investment made one year from now. You think you can earn per year on your
investments and you plan to retire in years, immediately after making your last $ investment.
a How much will you have in your retirement account on the day you retire?
b If instead of investing $ per year, you wanted to make one lumpsum investment today for your retirement that will result in the same retirement saving, how much would that lump sum
need to be
c If you hope to live for years in retirement, how much can you withdraw every year in retirement starting one year after retirement so that you will just exhaust your savings with the th
withdrawal assume your savings will continue to earn in retirement
d If instead, you decide to withdraw $ per year in retirement again with the first withdrawal one year after retiring how many years will it take until you exhaust your savings?
e Assuming the most you can afford to save is $ per year, but you want to retire with $ in your investment account, how high of a return do you need to earn on
your investments?
a How much will you have in your retirement account on the day you retire?
The amount in the retirement account in years would be $Round to the nearest cent.
b If instead of investing $ per year, you wanted to make one lumpsum investment today for your retirement that will result in the same retirement saving, how much would that lump sum
need to be
You will need to make one lump sum investment today of Round to the nearest cent.
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