How much can she withdraw each year during retirement

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Reference no: EM133926332

Problem

Your sister has just turned 35 and plans to save $10,000 per year for her retirement. Her first deposit will be made one year from today, and she will continue saving annually for 30 years (from age 35 to 64). She will invest her savings in a mutual fund with an expected annual return of 8%. Get the instant assignment help. She plans to retire at age 65 (40 years from today) and expects to live for 25 years after retirement, until age 90. Assuming she makes equal annual withdrawals during retirement, beginning one year after retirement (i.e., at age 66). How much can she withdraw each year during retirement?

Reference no: EM133926332

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How much can she withdraw each year during retirement : Your sister has just turned 35 and plans to save $10,000 per year for her retirement. How much can she withdraw each year during retirement?

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