You would like to retire in 19 years. The expected rate of inflation is 3% per year. You currently have a standard of living that requires $8266 of monthly expenses. Assuming you want to maintain the same standard of living in retirement, what are your monthly expenses expected to be the first year of retirement?

Answer rating: 100% (QA)

Standard pay during retirement will just come from your reserve funds that you have done duri... View the full answer