You plan on retiring in 35 years to support your retirement, Finance Basics

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You plan on retiring in 35 years to support your retirement

You plan on retiring in 35 years. To support your retirement you want to be able to make 30 annual withdrawls of $100,000 each year with the first withdrawl in the day you retire. If you can earn 5.5% on your retirement account for the next 64 years:

A) How large of a deposit do you have to make today to be able to achieve your retirement goal?

B) If you decide to save for your retirement by making annual deposits instead of a lump sum today, how much should your annual deposit be, if your first deposit was made today and your last deposit is made one year before you retire?

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Finance Basics: You plan on retiring in 35 years to support your retirement

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Finance Basics: You plan on retiring in 35 years to support your retirement

Reference No:- TGS0667772

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Recent Questions Asked Finance Basics

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Finance Basics: You plan on retiring in 35 years to support your retirement

Reference No:- TGS0667772

Recent Questions Asked Finance Basics

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