What annual level of living expenses will savings support

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Reference no: EM131244660

You are planning to save $1 million for retirement over the next 30 years.

If you are earning interest at the rate of 6% and you live 20 years after retirement, what annual level of living expenses will those savings support?

Suppose your retirement living expenses will increase at an annual rate of 3% due to inflation. Determine the annual spending plan in line with your inflation.

Reference no: EM131244660

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