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You just turned 25 years old and have decided that you would like to retire at age 55 and travel the world. You expect to
You just turned 25 years old and have decided that you would like to retire at age 55 and travel the world. You expect to catch some deadly jungle disease and die at the end of your 70th year. During retirement, you want to live well and receive $25,000 at the end of each month during retirement. You believe that you can earn 12% on your investments during both your working and retirement years. How much must you invest each month until you retire in order to have what you desire?
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