You will lead a retirement life from 65 to 90. Number of years in retirement =...

You will lead a retirement life from 65 to 90. Number of years in retirement = 25 years

Total capital needed for retirement = $1,875,000 (based on the assumption that $75,000 is needed each year to cover expenses)

You are now 22 years, the number of years for retirement = 43 years

Present value of money that you will need for retirement = $153,055.54 (an assumption that the interest rate is 6%) .

Describe techniques you will use to save for retirement such as increasing your savings rates when you receive promotions and raises.

Expert Solution

jeff jeffy answered 2 years ago

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