Question
You just turned 25 years old and want to retire when you turn 63. You expect to live for 25 years after retirement and expect
You just turned 25 years old and want to retire when you turn 63. You expect to live for 25 years after retirement and expect to withdraw $7,800 per month during retirement, starting first withdrawal one month after your 63th birthday.
Your retirement account quotes a return of 7% annually.
Attempt 1/3 for 10 pts.
Part 1
How much retirement money do you need to have by 63th birthday to support the withdrawal?
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Financial Intelligence
Authors: Income Mastery
1st Edition
1647773210, 978-1647773212
