Mark has decided to start saving for retirement. He has 15 years until retirement and would like to retire a millionaire. His advisor has told him that he should invest 50% in large company stocks and 50% in long-term corporate bonds. How much does he need to invest each month to retire with $1,000,000? Show your work. What if Mark invested the same amount of money each month in just large company stocks? Show your work. What if Mark invested the same amount of money each month in just long-term corporate bonds? Show your work. Investment
Class Average Return Small Stocks 17% Large Stocks 12% Long-Term Corporate Bonds 7% Long-Term Government Bonds 6% US Treasury Bills 3% Money Market 1%