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You have been able to save toward retirement. You feel like you have done a good job of saving because you learned to start early
You have been able to save toward retirement. You feel like you have done a good job of saving because you learned to start early in saving. After 35 years you have built you savings to $2.25 million and decided to retire and pursue what youve always wanted to do but couldnt because of work.
Longevity is in your family and you need this money to last 35 years. If you were able to get 5.75 % return on your retirement assets, how much could you take out monthly?
A. | $11,983 | |
B. | $12,859 | |
C. | $12,454 | |
D. | $12,166 |
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