Question: Compare these 4 scenarios by calculating the future values. You are starting your career with $0 savings in your retirement account. Assume you will work
Compare these 4 scenarios by calculating the future values. You are starting your career with $0 savings in your retirement account. Assume you will work 30 years then retire with a half million bucks. How are you going to get there? Let's assume the rate of return of any investments you make will be 5% (compounded annually). Consider these strategies - do any of them meet your goal? For each, draw a cash flow diagram and clearly label your future value. a. You take the slow and steady approach putting away $100 per month into your 401(k) for a total contribution of $1200 per year. You continue at that level for 30 years
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