Calculate your target savings by the time you retire

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Question: Based on about Finance at University of Tulsa you have started to think year retirement planning, You that at a minimum you will need $70.000 per of You believe the on today dollars. You don't think you can plan on a company to provide this benefit, thus you will have to save for your retirement. Based on your family history, you believe living to 90 is a reasonable estimate and you would like retire the age 60. You believe you will start work believe you the age of 23 estimate that inflation will be about 2% per year. You also believe that a diversified investment year. a market return of strategy of mutual funds should during your working years and that close to retirement you will shift these investments to safer bonds which should earn around a nominal 4% return on investment. Calculate your target savings by the time you retire and the amount of saving per year you will to invest to reach this goal.

Reference no: EM131943162

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