Question

You wish to retire in 12yrs and currently have $50,000 in a savings account yielding 5% annually and $100,000 in quality “blue chip” stocks yielding 10%. If you expect to add $30,000 at the end of each year to your stock portfolios, how much will you have in your retirement fund when you retire? What rate of return must you earn on your retirement funds if you want to withdraw $102,000 per year for the next 15yrs after retirement?