John has been employed by Phone Services, Inc. for 13 years, and currently earns $450,000 per year. John saves $40,000 per year. He plans to pay off his home at retirement and live debt free. He currently spends $80,000 per year on his mortgage. What do you expect John’s wage replacement ratio to be based on the above information?

Answer rating: 100% (QA)

To calculate Johns wage replacement ratio we need to determine his retirement income and compare it ... View the full answer