Mr. Jacobs has a both a pension and a 401k at his company. His pension will...

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Mr. Jacobs has a both a pension and a 401k at his company. His pension will provide a $3,000 a month benefit upon his retirement and his 401k currently has a $325,000 balance. Additionally, his social security check is estimated to be $2,500 a month. His savings are invested in a moderately aggressive portfolio, and you estimate his annual return to be 8%. He puts an additional $10,000 into his retirement at the end of each year. At Mr. Jacobs retirement date and assuming a 5% rate, considering his pension and social security income providing for some of his monthly income needs, how much does Mr. Jacobs need to have saved for a 20-year retirement if he starts taking withdrawals at the beginning of each month? S 41511.284 In 10 years from now when Mr. Jacobs retires, assuming he doesn't change his current portfolio of savings strategy, how much will Mr. Jacobs have in his 401k? S 51133,000 Does Mr. Jacobs have enough saved in his 401k to cover his retirement income needs? 6 NO Mr. Jacobs has a both a pension and a 401k at his company. His pension will provide a $3,000 a month benefit upon his retirement and his 401k currently has a $325,000 balance. Additionally, his social security check is estimated to be $2,500 a month. His savings are invested in a moderately aggressive portfolio, and you estimate his annual return to be 8%. He puts an additional $10,000 into his retirement at the end of each year. At Mr. Jacobs retirement date and assuming a 5% rate, considering his pension and social security income providing for some of his monthly income needs, how much does Mr. Jacobs need to have saved for a 20-year retirement if he starts taking withdrawals at the beginning of each month? S 41511.284 In 10 years from now when Mr. Jacobs retires, assuming he doesn't change his current portfolio of savings strategy, how much will Mr. Jacobs have in his 401k? S 51133,000 Does Mr. Jacobs have enough saved in his 401k to cover his retirement income needs? 6 NO