Retirement planing, You just turned 25 years old and want

Retirement planing

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Reference no: EM131304609

You just turned 25 years old and want to retire when you turn 65. You expect to live for 25 years after retirement and want to withdraw $50,000 per year in retirement, starting on your 65th birthday. You expect to earn a return of 5% on your investments every year. How much money should you save each month if you make the first deposit now and the last one one month before you turn 65?

Reference no: EM131304609

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