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Agnes is 40 years old. She wants to know how much she should be saving each year for retirement. Below are the specifics:
-She wants to retire at 60 and expects to live until she's 90
-She currently makes $45,000 and expects that to increase each year with inflation (2%). She thinks she will need about 70% of that to live on in retirement.
-She has $40,000 in an RRSP
-Her investments are earning a real rate of 7%
-When she retires she will move her investments into a more conservative portfolio and earn 3% per year.
-She expects that CPP will be about $15,000 per year.
Given this information, how much will she have saved when she is 60?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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