How much can you withdraw from your retirement savings

Assignment Help Financial Management

Reference no: EM131058522

You retire at age 60 and expect to live another 24 years. On the day you retire, you have $434,900 in your retirement savings account. You are conservative and expect to earn 4.25% on your money during your retirement. How much can you withdraw from your retirement savings each month if you plan to die on the day you spend your last penny?

Reference no: EM131058522

Questions Cloud

Use the two-stage dividend growth model : Netscrape Communications does not currently pay a dividend. You expect the company to begin paying a $2.2 per share dividend in 8 years, and you expect dividends to grow perpetually at 3.2 percent per year thereafter. If the discount rate is 14 perce..

The growth rate in dividends is expected to be constant : Sea Side, Inc., just paid a dividend of $2.16 per share on its stock. The growth rate in dividends is expected to be a constant 5.8 percent per year indefinitely. Investors require a return of 18 percent on the stock for the first three years, then a..

Compare the salary for the same job in different country : Go to Salary.com's Website, located at http://www.salary.com, and use its U.S. Salary Wizard to compare the salary for the same job in two different areas of the country. Try to select areas of the country that will yield varied salaries for the s..

Assume that a medical device has a useful life : Assume that a medical device has a useful life of 7 years, and it loses its real value at a constant rate (i.e. 1/7 of the original value per year). At a 6% interest rate, and including depreciation in the calculation, over a 4 year period a $80,000 ..

How much can you withdraw from your retirement savings : You retire at age 60 and expect to live another 24 years. On the day you retire, you have $434,900 in your retirement savings account. You are conservative and expect to earn 4.25% on your money during your retirement. How much can you withdraw from ..

Open market operations-discount policy-reserve requirements : What changes in the organization and activities of the Federal Reserve Board would you suggest to improve its operations? Should the Fed be more or less powerful? Does having a regional bank system instead of one central bank make any difference in t..

Discuss policies on how supervisors must manage conflict : Discuss policies on how supervisors must manage conflict and confrontation between employees and between employees and supervisors

The future value of the ordinary annuity is : Find the future value of an ordinary annuity if payments are made in the amount R and interest is compounded as given. Then determine how much of this value is from contributions and how much is from interest. R= 9,000?; 9?% interest compounded semia..

Question on funtion of the vitellus in vertebrate eggs : What is the funtion of the vitellus in vertebrate eggs? How are these eggs classified according to the amount of vitellus wiyhin them?

User Account

All Pages