Question: Consider that you are 45 years old and have just
Consider that you are 45 years old and have just changed to a new job. You have $150,000 in the retirement plan from your former employer. You can roll that money into the retirement plan of the new employer. You will also contribute $7,200 each year into your new employer’s plan. If the rolled-over money and the new contributions both earn an 8 percent return, how much should you expect to have when you retire in 20 years?
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