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You plan to retire in 21 years. You would like to maintain your current level of consumption which is $56,738 per year. You will need
You plan to retire in 21 years. You would like to maintain your current level of consumption which is $56,738 per year. You will need to have 21 years of consumption during your retirement. You can earn 4.76% per year (nominal terms) on your investments. In addition, you expect inflation to be 2.20% inflation per year, from now and through your retirement. How much do you have to invest each year, starting next year, for 8 years, in nominal terms to just cover your retirement needs
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