You are a financial advisor and a new client has just walked in your door. This client, Chris, just recently won a jackpot playing slots in Las Vegas and earned $200,000 after taxes. Chris is 36 years old and wants to use this money for his retirement. Chris is an impulsive spender and knows that he will be unable to save any money from his future paychecks, so he is very dependent on the $200,000 for his retirement. He would like to retire at 65 years old.

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Planning for retirement can be done through your regular income or through a lumps Retirement planni... View the full answer