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You just celebrated your 35th birthday. You plan to retire at 65 and live to be 95. You want to receive $60,000 per year in your retirement years....

You just celebrated your 35th birthday. You plan to retire at 65 and live to be 95. You want to receive $60,000 per year in your retirement years.

You have a current balance of $53,000 in your 401(k). If you think your portfolio will make a return of 5% on average, how much should you set aside per year to meet your goal?

  1. $13,880
  2. $11,613
  3. $12,217
  4. $10,435
  5. $13,887

Top Answer

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