How much will bob need to have accumulated

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Reference no: EM132172442

Question - Bob, age 52, has come to you for help in planning his retirement. He works for a bank, where he earns an annual salary of $60,000. Bob would like to retire at age 62. He has consistently earned 8% on his investments and inflation has averaged 3%. Assuming he is expected to live until age 95 and he has a wage replacement ratio of 80%, how much will Bob need to have accumulated as of the day he retires to adequately provide for his retirement lifestyle?

Reference no: EM132172442

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