Simon (age 25) and Paige (age 28) would like to retire when Paige turns 65. They expect
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Question:
Simon (age 25) and Paige (age 28) would like to retire when Paige turns 65. They expect they will need $40,000 in after-tax income (in today’s dollars) at the beginning of every year in retirement.
They are comfortable investing in a portfolio that is aligned with their investor profile (shown below) and expect to pay investment management fees of 1.075% per year.
How much will they need to save every month to fund their retirement needs if they do not currently have any investments earmarked for retirement?
Step 1 | Step 2 | Step 3 |
Mode | ||
P/Y = C/Y | ||
N | ||
I/Y | ||
PV | ||
PMT | ||
FV |
Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
Posted Date: