Retirement finance question?
You are planning to retire in twenty years. You'll live ten years after retirement. You want to be able to draw out of your savings at the rate of $10,000 per year. How much would you have to pay in equal annual deposits until retirement to meet your objectives? Assume interest remains at 9%. For a class so please explain how to figure this. A formula would be nice. Thanks.
Public Comments
- google retirement calculator bankrate.com has an excellent one. /
