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Your current annual living expenditures are $78,984. You estimate that at retirement in 30 years, you will need 71% of that, in today's dollars. You
Your current annual living expenditures are $78,984. You estimate that at retirement in 30 years, you will need 71% of that, in today's dollars. You anticipate that your tax rate in retirement will be 13%. You estimate that you will receive annual social security benefits of $26,366 per year, and plan to keep your rental property that produces annual net income of $10,220, both in today's dollars. What is the inflation-adjusted shortfall in your retirement income, if you expect an average 3.00% annual inflation?
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