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You retire at age 60 and expect to live another 30 years. On the day you retire, you have $750,900 in your retirement savings account.

You retire at age 60 and expect to live another 30 years. On the day you retire, you have $750,900 in your retirement savings account. You are conservative and expect to earn 5.5% on your money during your retirement. How much can you withdraw from your retirement savings each month if you plan to die on the day you spend your last penny?

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