Question
You just turned 20 years old and want to retire when you turn 60. You expect to live for 25 years after retirement and expect
You just turned 20 years old and want to retire when you turn 60. You expect to live for 25 years after retirement and expect to withdraw $8,000 per month during retirement, starting first withdrawal one month after your 60th birthday. Your retirement account quotes a return of 5% annually.
How much retirement money do you need to have by 60th birthday to support the withdrawal?
How much should you save each month if you make the first deposit one month after 20th birthday and the last one on 60th birthday?
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Handbook Of Energy Audits
Authors: Albert Thumann, Terry Niehus, William J. Younger
9th Edition
1466561629, 978-1466561625
