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How much do have to have saved at retirement to fund

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Problem 1: You are trying to calculate how much money you should have at retirement. On your 61st birthday you will retire and immediately make your first withdrawal of ?$4,615.38. You plan to make 26 such withdrawals each year. You plan to continue withdrawing at that level and frequency until you are 76 years old. ? (Assume beginning of period withdrawals with the first withdrawal on your retirement date and no withdrawal on your final? birthday.) During retirement your savings will earn only 4.3?% per annum. How much do you have to have saved at retirement to fund these planned? withdrawals?

Reference no: EM132764485

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