Does anyone know how to solve this finance problem?
You believe you must withdraw $15,000 per month during retirement. You plan to be retired for 25 years. Assuming your money will earn 8.5% during retirement and also assuming that you will not adjust your withdrawals for inflation, how much money will you need to have on hand on the day you retire, in order to fund your retirement?
Public Comments
- I dont have the exact numbers.. but i would take the time to figure a general mortgage payment utilities food car payments other living expenses, medical costs and entertainment. then I would multiply it by the month then the year and see what it costs to live a year. Then add an inflated figure for the number of years you are going to retire from now. And see can you live on your retirement?
- YES I CAN AND I HAVE SOLVED IT. BUT YOU HAVE TO DO YOUR OWN HOMEWORK
