David, age 52, has come to you for help in planning his retirement. He works for an
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David, age 52, has come to you for help in planning his retirement. He works for an insurance company, where he earns $60,000. David would like to retire at age 62. He has consistently earned 8% on his investments and inflation has averaged 3%. Assuming he is expected to live until age 95 and he has a wage replacement ratio of 80%, how much will David need to have accumulated as of the day he retires to adequately provide for his retirement lifestyle?
Related Book For
Taxation Of Individuals And Business Entities 2023 Edition
ISBN: 9781265790295
14th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham
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