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Financial planner for advice on retirement

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James's friend, Brandon, has hired a financial planner for advice on retirement. Considering Brandon's current expenses and expected future lifestyle changes, the financial planner has stated that once Brandon crosses a threshold of $19,388,019 in savings, he will have enough money for retirement. Brandon has nothing saved for his retirement yet, so he plans to start depositing $55,000 in a retirement fund at a fixed rate of 12.00% at the end of each year. It will take years for Brandon to reach his retirement goal.

Reference no: EM132630554

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