Question
You want to retire in 30 years and be able to withdraw the equivalent of $90,000 per year (in today's dollars) from a retirement fund.
You want to retire in 30 years and be able to withdraw the equivalent of $90,000 per year (in today's dollars) from a retirement fund. Assume 3% inflation. You plan to be retired for 20 years. Assuming you can earn 12% on your investments BEFORE retirement and 7% on your investments DURING retirement, how much will you need to save per month in order to be able to fund this retirement?
and
You want to retire on the equivalent of $50,000 per year in todays money. Inflation is expected to be 3%. You will retire in 30 years. You will earn 10% annually on your investments from now until retirement and you will earn 8% DURING retirement (which is expected to last 20 years). How much do you need to save per MONTH in order to fund this retirement?
HELP?!
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