Question: Suzanne is currently 65. She needs $1,000,000 to fully fund her retirement if she spends her portfolio down to $0 at her assumed death at

Suzanne is currently 65. She needs $1,000,000 to fully fund her retirement if she spends her portfolio down to $0 at her assumed death at age 95. If Suzanne expects to earn 9% and expects inflation to be 3% throughout her retirement, what lump sum would she need to fully fund her retirement income and leave an inflation-adjusted estate of $1,000,000 at her death?

The example in the problem above is best described as what type of retirement income planning model?

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