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Age:21 Year Until retirement: 42 Years in retirement: 28 inflation assumption: 3.6% Re

Age:21 Year Until retirement: 42 Years in retirement: 28 inflation assumption: 3.6% Re

Age:21

Year Until retirement: 42

Years in retirement: 28

inflation assumption: 3.6%

Return during savings:12.0%

Return during retirement: 5.0%

annual raises:3.5%

current income: 63,000

income in 22 years: ____ assuming 3.5% raises year over year

current retirement savings: 0

annual contribution to retirement: 6300

first half of years to retirement: 6000

second half of years to retirement: 0

1. How much will the client be able to withdraw each year of retirement, if the client wants to leave an amount equal to 20% of the starting amount of the retirement account on day retires (so 20% of $6,075,465), to hiers upon his death which he assumes will be the last day of his projected retirement (so this will be a lump sum at the end)? (PLEASE SHOW FINANCIAL CALCULATOR INPUTS!!!)

Abhinav 02-Dec-2019

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