How much money you would need to invest today

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Reference no: EM131575581

For this weeks discussion we are going to figure out how much money you would need to invest today in order to have $1,000,000 in the year you retire. We will assume we can earn 5% a year on our investment, and we will assume we are retiring at age 67 (or you can pick any age you want to retire!) So for the discussion, list the number of years you have until you have decided to retire and the amount you will need to invest today to get there. I will go first

Time to retirement: 23 years

Goal at retirement: $1,000,000

Return: 5%

Using the present value formula,

Reference no: EM131575581

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