Scott accumulated $1,268,000 as his retirement assets. He has determined that he will need $173,000 per year from the retirement assets to handle his living needs until he reaches age 70½. Assuming his assets will continue to earn 5.1 percent annually.

What age can Scott afford to retire?

Answer rating: 100% (QA)

To determine the age at which Scott can afford to retire we need to calculate how long his re... View the full answer