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You would like to retire in exactly 35 years with a pension of $8,000 per month for the rest of your life. How much must
You would like to retire in exactly 35 years with a pension of $8,000 per month for the rest of your life. How much must you save per month until then, assuming
(i) you can earn 0.53% per month on all your savings,
(ii) you will live forever,
(iii) your first savings payment is one month from today, and
(iv) your first pension check comes one month after you make your last savings payment.
(v) you currently have $125,000 in your retirement account
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