Question
You have decided to begin planning for your retirement. You will work another 30 years, and, based on your life expectancy, you are going to
You have decided to begin planning for your retirement. You will work another 30 years, and, based on your life expectancy, you are going to be living in retirement for 25 years. Assume you have calculated that you will need to live off of $60,000 per year in retirement. If your investment return will be 6% per year while retired and 8% per year from now until retirement, then how much must you invest at the beginning of each month from now until you retire in order to achieve your retirement goal? Please do not input a "$" sign or commas. Do not round intermediate calculations and round your final answer to two decimal places.
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