At what age can Scott afford to retire

Assignment Help Financial Accounting
Reference no: EM132987638

Question - Scott accumulated $1,233,000 as his retirement assets. He has determined that he will need $242,000 per year from the retirement assets to handle his living needs until he reaches age 70½. Assuming his assets will continue to earn 3.2 percent annually, at what age can Scott afford to retire? (Scott has already decided not to touch his IRA funds until the latest possible date, believing he can cover his living costs with the retirement assets until that time. He is even willing to adjust his retirement date by a year or so if need be.)

Reference no: EM132987638

Questions Cloud

Discuss potential areas that can lead to disney governance : Review the structure of the board above and discuss potential areas that can lead to Disney's governance failure
Review current product or service in the market : Review a current product or service in the market and describe its target market. Generate a persona for this company's primary target market.
What is the yield to maturity : The face value is $1,000 and the current market price is $1,020.50. The bond matures in 20 years. What is the yield to maturity
Jobs and labor and managing employee turnover : Describe some reasons for the changes and how they are affecting HR management and organizations.
At what age can Scott afford to retire : Assuming his assets will continue to earn 3.2 percent annually, at what age can Scott afford to retire
About kotter step change model : What have you learned during this team collaboration about Kotter's 8-Step Change Model? What is a process for creating a sense of urgency around change?
Examine the reasons for strategic planning : For this assignment, examine the reasons for strategic planning for your chosen company, and then identify the possible answers to the strategic questions
What is the pre-tax cost of this debt : If the bondholders receive annual payments of $93 and the current price of the bonds is $1,000.00. What is the pre-tax cost of this debt
SAS Institute Invests in Employees : SAS Institute Invests in Employees." The study generally discusses the approach of a major software company to its employees.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd