Planning For Retirement Income

Question

John Adams Plans to retire at the age of 62. He wants an annual income of $50000 per year. John is currently is currently 47 years of age. How much does he share to place at the end of each year into a retirement account earning 15% per year in order to have an adequate retirement nest egg at age 62? He believes that he will live to be 87 and plans to earn 12% during retirement. He will draw money at beginning of each year.

Summary

The question belongs to Finance and it is about a scenario where a person plans to retire by the age of 62. He wants to earn an annual income of $50000 per year after retirement. Right now, the person is 47 years old and the question is how much does the person needs to save for his retirement has been calculated.

Total Word Count 62

Download Full Solution

Comments

  • HWA
    Rasha

    this is a very good website

  • HWA
    maani

    I have 50 questions for the same test your page is showing only 28

  • HWA
    joeanne

    hi can you please help or guide me to answer my assignments. thanks

  • HWA
    joeanne

    hi can anyone help or guide me to my assignments. thanks

  • HWA
    Monik


  • HWA
    Cristina

    This solution is perfect ...thanks

  • HWA
    Janete

    Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes

  • HWA
    Sandeep

    Perfect bank of solution. 

  • HWA
    Oxana

    great !

  • HWA
    Paul Brandon-Fritzius

    thanks for the quick response. the solution looks good. :)

  • HWA
    tina Johnson

    thnx for the answer. it was perfect. just the way i wanted it. 

  • HWA
    Giuseppe

    works fine.