You plan to retire in 15 years. During your 30-year retirement, you expect to draw $50k each year from your retirement fund. You expect to earn an annual rate of 5% of your retirement fund during this retirement period. To save for retirement, you plan to deposit in an investment fund where you are expected to earn 12% annually. How much must you save monthly to have enough for your retirement?

Answer rating: 100% (QA)

To calculate how much you need to save monthly to have enough for your retirement you can use the fu... View the full answer