Suppose a man is 30years old and would like to retire at age 65 Furthermore, he would like to have a retirement fund from which he can draw an income of $50,000 per yearlong dash—forever! How can he do it? Assume a constant APR of 5%.
He can have a retirement fund from which he can draw $50,000 per year by having $ in his savings account when he retires.
1 answer
Suppose a man is 35 years old and would like to retire at age 60. Furthermore, he would like to have a retirement fund from which he can draw income of $125,000 per year— forever! How can he do it? Assume a constant APR of 8%.