You have discussed your retirement plans with your significant other and plan to move to a state with a lower cost of living upon retirement. You plan on living off $85,000 annually. You understand that your retirement account will likely yield a 5% return. Using the 4% Rule, how much money do you need in your retirement account upon retirement?(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $
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Subject :- Accounting
You have discussed your retirement plans with your significant other and plan to move to a state with a lower cost of living upon retirement. You plan on living off $85,000 annually. You understand that your retirement account will likely yield a 5% return. Using the 4% Rule, how much money do you need in your retirement account upon retirement?(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $}
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- You have discussed your retirement plans with your significant other and plan to move to a state with a lower cost of living upon retirement. You plan on living off $110,000 annually. You understand that your retirement account will likely yield a 5% return. Using the 4% Rule, how much money do you need in your retirement account upon retirement?(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $}Please answer me in typing, avoid images and handwriting. 3.You have just made your first $5,000 contribution to your retirement account. Asuming you earn an 11 percent rate of return and make no additional contributions, what will your account be worth when you retire in 45 years? What if you wait 10 years before contributing?(Does this suggest an investment strategy?)You are considering a retirement savings. For this you will need to determine following information. Average starting salary of you major. $73,000 Your annual retirement savings amount. 8% of annual income Your age when you start working. 23 years old Your age when you plan to retire. 58 Retirement account investment vehicle. This will determine the growth rate. ? idk what this is... When I retire I want to open a ice cream shop (this might help answer the question) Create an excel table with your age column, annual contribution, annual account balance. Re-do the calculation with monthly contribution and find your account balance at your retirement. Submit excel table with all your information.
- Suppose you want to have $400,000 for retirement in 25 years. Your account earns 5% interest. Feel free to use the Online Basic Financial Calculator a) How much would you need to deposit in the account each month? es b) How much interest will you earn? $Question # 3: Suppose that your retirement benefits during your first year of retirement are $50000. Assume that this amount is just enough to meet your cost of living during the first year. However, your cost of living is expected to increase at an annual rate of 5% due to inflation. Suppose you do not expect to receive any cost-of-living adjustment in your retirement pension. Then some of your future cost of living has to come from savings other than retirement pension. If your savings account earns 7% interest a year, how much should you set aside in order to meet this future increase in the cost of living over 25 years?!! Question 15.2 Unanswered 3 attempts left You have discussed your retirement plans with your significant other and plan to move to a state with a lower cost of living upon retirement. You plan on living off $85,000 annually. You understand that your retirement account will likely yield a 5% return. Using the 4% Rule, how much money do you need in your retirement account upon retirement?(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $} Type your response Submit
- Explain to a friend or relative how you would use the TVM concept to achieve their desired retirement amount. How much would they need to retire? How would you develop a savings plan using that number? Use Excel to calculate and explain the numbers when posting to the forum. Include the interest rate and investment. Starting amount is 45,000 at age 30 with the retirement age of 67Suppose you want to retire in (choose 1: 10 - 20 - 30) years with enough saved to earn (choose 1: $30K - $50K - $70K) per year for 15 - 25 - 35 years. Presume that you have not saved anything [OR have saved $ 100K] towards retirement yet. Your plan is to make equal contributions over the next (choose 1: 10 - 20 - 30) years to a retirement account that will earn (choose 1: 5 - 8 - 10) percent per year. List your variables and report back how much you have to have saved in FV terms, as well as how much you'll need to save in each of the next x yearsSuppose you have estimated that you will need $2,500 per month in your retirement to meet your expenses and live comfortably, and that you have found or chosen a fund (account) which pays monthly interest 4% APR . What principal, or balance, will your account need to maintain in order to be able to pay you this amount each month? Round/take your answer to the nearest cent.
- You want to be able to withdraw $30,000 from your account each year for 30 years after you retire. You expect to retire in 20 years. If your account earns 8% interest, how much will you need to deposit each year until retirement to achieve your retirement goals? Question Help: DVideo 1 D Video 2 Submit QuestionCan you please help me understand this equation 12 divided by .04 = 300? I am hoping to understand what financial gurus say that to know your retirement you take your monthly expenses x 300 because you can only take 4% of your retirement account to safely live off your retirement money. I cannot conceptualize dividing a number with a percentage. Please answer fast i give you upvote.V. You want to save $2,000 today for retirement in 40 years. You have to choose between the two plans listed in (i) and (ii). (i) Pay no taxes today, put the money in an interest-yielding account, and pay taxes equal to 20% of the total amount withdrawn at retirement. (In the U.S., such an account is known as a regular individual retirement account, or IRA.) (ii) Pay taxes equivalent to 15% of the investment amount today, put the remainder in an interest-yielding account, and pay no taxes when you withdraw your funds at retirement. (In the U.S., this is known as a Roth IRA.) a. What is the expected present discounted value of each of these plans if the interest rate is 1%? 10%? b. Which plan would you choose in each case? Explain your logic clearly.