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What age can scott afford to retire

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Scott accumulated $1,015,000 as his retirement assets. He has determined that he will need $232,000 per year from the retirement assets to handle his living needs until he reaches age 70½. Assuming his assets will continue to earn 8.2 percent annually, at what age can Scott afford to retire? (Scott has already decided not to touch his IRA funds until the latest possible date, believing he can cover his living costs with the retirement assets until that time. He is even willing to adjust his retirement date by a year or so if need be.)

Reference no: EM133121348

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