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You plan to retire in 29 years. You would like to maintain your current level of...

You plan to retire in 29 years. You would like to maintain your current level of consumption which is $50,301 per year. You will need to have 23 years of consumption during your retirement. You can earn 5.16% per year (nominal terms) on your investments. In addition, you expect inflation to be 2.83% inflation per year, from now and through your retirement.

How much do you have to invest each year, starting next year, for 15 years, in nominal terms to just cover your retirement needs?

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jeff jeffy answered 2 years ago
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