A client needs assistance with retirement planning Here are the facts The client, Dave, is 21 years old He wants to retire at 65 Dave has disposable income of $2,000 per month The IRA Dave has chosen has an average annual return of 8 If Dave contributes half of his disposable income to the account, what will it be worth at 65 How much would he need to contribute to have $5,000,000 at 65

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Question: . A client needs assistance with retirement planning. Here are the facts: The client, Dave, is 21 years old. He wants to retire at 65.

. A client needs assistance with retirement planning. Here are the facts:

The client, Dave, is 21 years old. He wants to retire at 65.
Dave has disposable income of $2,000 per month.
The IRA Dave has chosen has an average annual return of 8%.

If Dave contributes half of his disposable income to the account, what will it be worth at 65? How much would he need to contribute to have $5,000,000 at 65?

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