Prior to retirement you are earning $70000 each year. You estimate that you will need income...

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Prior to retirement you are earning $70000 each year. You estimate that you will need income of at least 65% of your current earnings to maintain your standard of living in retirement. How much income will you need each year in retirement to meet your goal? You spend about $26,000 in a year now. If prices increase 2.8% per year, how much money will you need to spend to maintain your standard of living in 35 years? Your Answer: Prior to retirement you are earning $70000 each year. You estimate that you will need income of at least 65% of your current earnings to maintain your standard of living in retirement. How much income will you need each year in retirement to meet your goal? You spend about $26,000 in a year now. If prices increase 2.8% per year, how much money will you need to spend to maintain your standard of living in 35 years? Your Answer:

Answer rating: 100% (QA)

To determine the amount of income you will need each year in retirement to meet your goal you need t... View the full answer