Saving tor retrement is important! Rather than target a random total dollar value to have at refirement, a befer segroach is to first fgure out what you think that you will spend on an annual basis once you refite and also make an educated guess at how long you will fire orce you retire. Then save enough to support that stream of expected payments. Assume that you are going to work and save for $40$ years and anticipate living for $30$ additional years once you refire. You anticipate that you will spend $$125,000$ per year every yezz in refremert. How much will you need to save each year your $40$ years of employment in order to have enough to support your refirement spending rescs?Assume that the mutual fund where you park your money will retum $6\mathrm{.}42\%$ per year while you are working and while you are refired Assume that investments and withdrawals ocour at the end of each year. Your last day of work will be the day of your last investment yer$40)$ and first withdrawal will be at the end of the net year $($year $41).$