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lana66690 [7]
3 years ago
10

Elin wants to retire in 20 years when she turns 60. Elin wants to have enough money to replace 120% of her current income less w

hat she expects to receive from Social Security. She expects to receive $20,000 per year from Social Security in today's dollars. Elin is conservative and wants to assume a 5% annual investment rate of return and assumes that inflation will be 3% per year. Based on her family history, Elin expects that she will live to be 95 years old. If Elin currently earns $100,000 per year and expects her raises to equal the inflation rate, approximately how much does she need at retirement to fulfill her retirement goals
Business
1 answer:
xxMikexx [17]3 years ago
3 0

Answer:

She needs :$4,045,303 for her retirement

Explanation.

Total all expenses and earnings

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