What will be estimated retirement expenses in today dollars

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Problem 1: Edward plans to retire in 15 years. His current household expenses are $94000 per year. He estimates that when he retires, he will no longer have $4550 in monthly mortgage payments, $6900 in annual commuting expenses, and $31000 in annual budgeted 401(k) contributions. However, he does expect that his health-care costs will rise by $5600 per year and his entertainment expenses to total $8950 each year. What will be his estimated retirement expenses, in today's dollars, if using the adjusted expense method?

A. 16050.
B. 7150.
C. 60950.
D. 64850.

Reference no: EM132918566

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