The future value of an annuity need fill in payment per period, number of periods, interest rate per period, and future value. Trying to determine how much money to save per year based on an assumed rate of return and the savings period until retirement to meet your good for retirement savings. I had plugged in 10,000, 12, 3%, and the future ends up being 141,920. Does that sound like a reasonable frame to save for retirement?
Need help answers these questions.
1. How much savings do you need to support you during retirement?
2. How much will you contribute to your retirement? Into what type of plan(s) will you contribute?