Business, 30.10.2020 18:00, eaalvarezelisa01
You just turned 25 years old and want to retire when you turn 65. You expect to withdraw $90,000 per year for 25 years during retirement, starting first withdrawal one year after your 65th birthday. You expect to earn a return of 8% on your investments every year.
part 1 How much retirement saving do you need to have by 65th birthday to support the withdrawals in the next 25 years? Or the same question can be asked differently, what is the present value (as of your 65th birthday) of the withdrawals you expect to make?
part 2 How much money should you save each year if you make the first deposit one year from your 25th birthday and the last one on 65th birthday?
Answers: 1
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You just turned 25 years old and want to retire when you turn 65. You expect to withdraw $90,000 per...
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