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ForeverConfused 03-01-2017 09:10 PM

Saving for retirement question
The question is:

You want to be able to retire 25 years from now with monthly retirement income of $12000 for 30 years (first withdrawal will be made in 25 years and 1 month from now). You also want to purchase a boat in 15 years at an estimated cost of $60,000. After the 30 year withdrawals, you want to donate $500,000 to charity. You plan to save $2,000 per month for the next 15 years, earn an 8% EAR before retirement and a 6% EAR after retirement. How much will you have to save each month in years 16 through 25?

Not really sure where to start with this one.. Any hints would be much appreciated.

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Re: Saving for retirement question
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penny128 05-15-2017 12:21 PM

Re: Saving for retirement question
wow thats a great deal of money, i'd say that'll do

divi 06-13-2017 07:31 AM

Re: Saving for retirement question
That's really a good plan but be careful in firms before you invest because there are many fake organizations these days. Just do a proper research before you invest. It would be better you make some fixed deposit but in that, you get less profit comparatively. See this you will get an idea.

OCP Biz 07-12-2017 12:33 PM

Re: Saving for retirement question
For early retirement..we must make a plan for it. you have to implement money saving plan for future security.

FrankByMonster 08-24-2017 06:46 AM

Re: Saving for retirement question
Yes, it's so unpredictable that you have to plan everything when you're 10 years old

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