You are a financial advisor and get the following question from one of your cllients M''...

You are a financial advisor and get the following question from one of your cllients M'' spoue and I each 62 and hope to retire in three year . After requirement we will received $7500 per month after taxes from our employees pension plans and $1500 per month after from the social security .Unfortunately , our monthly expenses are $15000.Our social obligation preclude further economies . We have $1000,000 invested in a high grade ,tax-free municipal -bond fund form. The return on the fund is 3.5% per year .We plan to make annual withdrawer from the mutual fund to cover the different between our pension nd social security income and our living expense .How year before we run out of money what do we tell our client?

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jeff jeffy answered 1 year ago

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