You want to save $600,000 dollars for retirement in your 401K. Over the next 30 years,...

 

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You want to save $600,000 dollars for retirement in your 401K. Over the next 30 years, How much must you deposit weekly if the annuity is paying 7.35%? What will be your total payments into the annuity over the 30 year period? How much interest did you earn while building your annuity? You retire with $600,000 in your IRA which earns 7.35%. What distribution would you receive monthly if you plan to withdraw funds for the next 25 years? You want to save $600,000 dollars for retirement in your 401K. Over the next 30 years, How much must you deposit weekly if the annuity is paying 7.35%? What will be your total payments into the annuity over the 30 year period? How much interest did you earn while building your annuity? You retire with $600,000 in your IRA which earns 7.35%. What distribution would you receive monthly if you plan to withdraw funds for the next 25 years?

Answer rating: 100% (QA)

There are a couple of misconceptions in the scenario 401K vs Annuity A 401K is a retirement savings account offered by employers while an annuity is a... View the full answer