Decide to start saving for your retirement

Reference no: EM131472967

You are 25 years old and decide to start saving for your retirement. You plan to save $5000 at the end of each year (so the first deposit will be one year from now), and will make the last deposit when you retire at age 65. Suppose you earn 8% per year on your retirement savings.

a. How much will you have saved for retirement?

b. How much will you have saved if you wait until age 35 to start saving (again, with your first deposit at the end of the year)?

Reference no: EM131472967

Questions Cloud

Find a franchisee breakeven sales in dollars : BUSAC 187-5651 RESEARCH PROJECT 2. Owner Li Soo is considering franchising her Happy Noodles restaurant concept. Find a franchisee's breakeven sales in dollars

Pay raises everyday-how do you feel when you get raise : How do you feel when you get a raise? Happy? Rewarded? Do you think frequent, small raises versus annual, larger raises is more motivating? Why or why not?

What should be the funds risk tolerance level : The Eagle University Endowment was established with $75 million dollars. The endowment has two major goals: to build a $25 million dollar library.

Write a research-based blog post for a hrm website : Create three insightful questions based on the readings that your audience may also be wondering, and provide responses from the research.

Decide to start saving for your retirement : You are 25 years old and decide to start saving for your retirement. How much will you have saved for retirement?

Present value of the tax shield : If it permanently changes its leverage from no debt by taking on new debt in the amount of 12.7 % of its current market? value.

Define the risk tolerance level : Omaha Life, a regional life insurance company, provides all forms of life insurance coverage. The company's actuaries have calculated a 4.5 percent minimum.

What is the present value of your windfall : What is the present value of your windfall? What is the future value of your windfall in three years?

What is? pelamed 2010 net? income : Pelamed Pharmaceuticals had EBIT of $ 269 million in 2010. In? addition, Pelamed had interest expenses of $ 132 million and a corporate tax rate of 30 %.

User Account

All Pages