retirement question?
You are 40 years old and plan to retire in exactly 20 years. Starting 21 years from now you will need to withdraw $5,000 per year from your retirement fund to supplement your social security payment. If you expect to live to age eighty-five how much should you place in the retirement fund each year for the next 20 years to reach your retirement goal, assuming you can earn 12% per year on your retirement fund investment? Show your formulas and input
Public Comments
- A lot!
- You need to do your own schoolwork.
- The world is never that cut and dried. This is obviously a homework problem and you should work it out yourself.
