You are currently making $65,000 a year after taxes and are interested in maintaining your current income. If you are expecting $2,600 a month from Social Security, how much will you need to withdraw from your retirement accounts monthly?

If you have $500,000 in your retirement account, and you are currently making 4% interest on your account, how much can you withdraw from it a year without decreasing the amount in your account?

Your baby is born, and you want to make monthly payments into a college fund over the next 18 years. Your goal is to have $100,000 in the fund in 18 years. Assuming an APR of 2.75%, calculate how much you should deposit monthly?

Assume that cigarettes cost $6 per pack and consider a 21 year old college student smoker who smokes 8 packs of cigarettes per month. If the student quits smoking and each month invests the amount she/he would have spent on cigarettes in a savings plan that averages a 2% annual return, how much will she/he have saved by the time she/he is 65?

Answer rating: 100% (QA)

1 To maintain your current income of 65000 a year after taxes and receive 2600 a month from social security youll need to supplement your income with ... View the full answer