Finance retirement question help
Agnes is 40 years old. She wants to know how much she should be saving each year for retirement. Below are the specifics:
She wants to retire at 60 and expects to live until she’s 90
She currently makes $45,000 and expects that to increase each year with inflation (2%). She thinks she will need about 70% of that to live on in retirement.
She has $40,000 in an RRSP
Her investments are earning a real rate of 7%
When she retires she will move her investments into a more conservative portfolio and earn 3% per year.
She expects that CPP will be about $15,000 per year.
Given this information, how much will she have saved when she is 60?
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Agnes is 40 years old. She wants to know how much she should be saving each year for retirement. Below are the specifics:She wants to retire at 60 and expects to live until she’s 90She currently makes $45,000 and expects that to increase each year with inflation (2%). She thinks she will need about 70% of that to live on in retirement.She has $40,000 in an RRSPHer investments are earning a real rate of 7%When she retires she will move...
Agnes is 40 years old. She wants to know how much she should be saving each...
Agnes is 40 years old. She wants to know how much she should be saving each year for retirement. Below are the specifics: • She wants to retire at 60 and expects to live until she's 90 • She currently makes $45,000 and expects that to increase each year with inflation (2%). She thinks she will need about 70% of that to live on in retirement. . She has $40,000 in an RRSP Her investments are earning a real rate...
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Use the following information to answer each question Allison wants to save for retirement. She is...
Use
the following information to answer each question Allison wants to
save for retirement. She is 20 and wants to retire in 40 years. She
is considering two options and expects to earn an 8% annual return
under each option.
Option 1: She is considering contributing $6,000 per year to
an IRA for 10 years at which time she figures she will be tired of
self-deprivation save no more. The invested funds, however, will
continue to grow until she retires....
please choose one answer Kate is now 40 years old, plans to retire in 25 years,...
please
choose one answer
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Agnes is 40 years old. She wants to know how much she should be saving each year for retirement. Below are the specifics: • She wants to retire at 60 and expects to live until she's 90 • She currently makes $45,000 and expects that to increase each year with inflation (2%). She thinks she will need about 70% of that to live on in retirement. . She has $40,000 in an RRSP Her investments are earning a real rate...
eBook Your client is 28 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 12% in the future. a. If she follows your advice, how much money will she have at 65? Do not round intermediate calculations. Round your answer to the nearest cent....
Your client is 28 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 7% in the future. a. If she follows your advice, how much money will she have at 65? Do not round intermediate calculations. Round your answer to the nearest cent. b....
Use
the following information to answer each question Allison wants to
save for retirement. She is 20 and wants to retire in 40 years. She
is considering two options and expects to earn an 8% annual return
under each option.
Option 1: She is considering contributing $6,000 per year to
an IRA for 10 years at which time she figures she will be tired of
self-deprivation save no more. The invested funds, however, will
continue to grow until she retires....
please
choose one answer
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