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How big should expect that retirement account to be

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Question - I will start my first job after graduating college. The company offers a retirement plan for which the company gives 30 percent of what you contribute each year. So, if I contribute $4,000 per year from my salary, the company adds another $1,200. I get to decided on how to invest the total annual contribution from several portfolios choices that the plan administrator provides. Suppose I pick a mixture of stocks and bonds that is expected to return 8% per year. If I plan to retire in 35 years, how big should I expect that retirement account to be?

Reference no: EM133139469

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