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You plan to retire in 15 years. During your 30-year retirement, you expect to draw $50k each year from your retirement fund. You expect to
You plan to retire in 15 years. During your 30-year retirement, you expect to draw $50k each year from your retirement fund. You expect to earn an annual rate of 5% of your retirement fund during this retirement period. To save for retirement, you plan to deposit in an investment fund where you are expected to earn 12% annually. How much must you save monthly to have enough for your retirement?
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
