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Determine have enough monies to live comfortably each year

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Assignment:

Problem 1: Determine whether you have enough monies to live comfortably each year for 20 years in your dream state.

Assume you have the following assets at age 65:

  1. Pension Plan worth $400,000 today. You plan to take an annuity to withdraw all assets in 20 years. Assume 3% interest per year. You will get monthly payments for 20 years.
  2. Social Security - $18,000 per year for 20 years. Assume that this is the amount you will receive each year.
  3. Savings worth $150,000 today. You plan to take an annuity to withdraw all assets in 20 years. Assume 3% interest per year. You will get monthly payments for 20 years.

Reference no: EM132631083

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