Suppose that you have just retired at the age of 65 with a retirement account that has the net asset value of $ 10 million. Assuming that you will live until the age of 100 (35 years more!).

How much can you afford to withdraw from your retirement account per month? Assume that your retirement account continues to earn 8% APR (with monthly compounding) on its remaining balances.

Answer rating: 100% (QA)

With a retirement account net asset value of 10 million and an investment return of 8 APR with month... View the full answer