Lisa and Mark married at age 22. Each year until their 30th birthdays, they put $ 4,000 into their traditional IRAs. By age 30, they had bought a home and started a family. Although they continued to make contributions to their employersponsored retirement plans, they made no more contributions to their IRAs. If they receive an average annual return of 8%, how much will they have in their IRAs by age 60? What was their total investment?
Answer to relevant QuestionsIf Dave and his employer contribute a total of $ 10,000 annually, how much will that amount accumulate over the next 30 years, at which time Dave and Sharon hope to retire? What is a revocable living trust? How can a revocable living trust be used to help your estate? How does a revocable living trust affect estate taxes? What is a durable power of attorney for health care? Why is it needed even if you have a living will? What is probate? Describe the probate process. Why is it important to integrate the components of your financial plan?
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