Accumulation phase -
If your savings goal is $565,000 and you have 35 years to save, how much must you save each year, assuming a pre-retirement investment return of 5%?
a) Show/explain how to answer this mathematically.
b) If you were a financial planner, how would you explain the results of this retirement-planning analysis to the client?
c) Re-do parts a) and b) assuming a compound annual return of 7%.