Question
Your client wants to spend $250,000 during each year in retirement. The client wants the money to last for 30 years. The client plans to
Your client wants to spend $250,000 during each year in retirement. The client wants the money to last for 30 years. The client plans to invest $25,000 a year for 35 years and expects all investments to earn at least 6% a year. Will your client reach the goal of being able to spend $250,000 a year during retirement?
Yes; the client will have exactly the right amount. | ||
Yes; the client will have about $169,372 more than needed in the retirement account. | ||
No; the retirement account will short about $1,524,318 (the client will need that much more in the retirement account to reach the goal). | ||
No; the client account will be short about $655,338 (the client will need about that much more in the retirement account to reach the retirement goal. |
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