Business, 19.11.2019 05:31 vinnie48

Elin wants to retire in 20 years when she turns 60. elin wants to have enough money to replace 120% of her current income less what she expects to receive from social security. she expects to receive $20,000 per year from social security in today's dollars. elin is conservative and wants to assume a 6% annual investment rate of return and assumes that inflation will be 3% per year. based on her family history, elin expects that she will live to be 95 years old. if elin currently earns $100,000 per year and expects her raises to equal the inflation rate, approximately how much does she need at retirement to fulfill her retirement goals?

$3,880,831. $3,930,814. $3,997,256 $4,045,303.

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Elin wants to retire in 20 years when she turns 60. elin wants to have enough money to replace 120%...

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