I am looking ahead to my retirement and want to be able to retire at 70 and hope to live to 95 and make $3200 a month from an account compounding monthly at 4.5%. I am currently 27 and I am going to deposit $1000 at the beginning of each quarter until I am 70 in an account that pays 8.5% and is compounded quarterly. Will I have enough to make it happen and by how much am I above or below?
I am looking ahead to my retirement and want to be able to retire at 70 and hope to live to 95 and make $3200 a month from an account compounding monthly at 4.5%. I am currently 27 and I am going to deposit $1000 at the beginning of each quarter until I am 70 in an account that pays 8.5% and is compounded quarterly. Will I have enough to make it happen and by how much am I above or below?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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4. I am looking ahead to my retirement and want to be able to retire at 70 and hope to live to 95 and make $3200 a month from an account compounding monthly at 4.5%. I am currently 27 and I am going to deposit $1000 at the beginning of each quarter until I am 70 in an account that pays 8.5% and is compounded quarterly. Will I have enough to make it happen and by how much am I above or below?
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