How much does she need to have at age

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Reference no: EM131963082

You are advising a 25-year-old friend. She plans to retire in 40 years and wants to live on what is now $60,000 a year (today’s dollars). She expects to live 35 years into retirement (she dies at age 90). She believes inflation will average 2.5%. She believes she can earn 8% on average.

How much does she need to have at age 65?

How much must she save today if she grows that project?

What will her payment be at age 30 (5 years)?

Reference no: EM131963082

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