28. Susie had $1 million saved for retirement and her retirement funds are earning 5%. If inflation in 3% and she takes out the funds at the beginning of each year, how much can she take out of her savings using the 4% rule: a. In the first year? b. In the second year?

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The 4 rule is a commonly used rule of thumb for retirement planning that suggests withdrawing 4 of t... View the full answer