Question: How many months do you need to work to have enough money to retire? Assume you want $1,000,000 to retire, you currently do not have

How many months do you need to work to have enough money to retire? Assume you want $1,000,000 to retire, you currently do not have any savings, but starting next month, you will be able to make monthly deposits of $700 into your retirement account that returns on average 5.5% per year compounded monthly.

  • 981 months
  • 37 months
  • 442 months
  • 82 months

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