You’re going to put some money into the bank every month of your RWLE (41 years). It’s going to earn a return that is consistent with your willingness to bear risk (19.16%). You just need to figure out how much to save each month so that you’ll have the amount of $2,903,946.92 when you retire. Don’t forget to make the appropriate adjustments to the rate and number of periods to handle our monthly savings frequency. How much do you need to save each month?

Answer rating: 100% (QA)

To calculate the monthly savings required to reach a target amount of 290394692 in 41 years w... View the full answer