Question

A 68 year old retiree has a pension savings of $40,000, a 401k of $63,000, and an IRA account of $59,000. Before 2008, he had 2% more cash in the pension, 12% more in the IRA, and 1% more in the 401k. He wants to take out 2% from each account before he turns 72, which will cost him a penalty of an extra 1% from the current total pension amount, 2% from the 401k, and 6% from the IRA. What amount will the retiree have in his IRA account if he takes that money out now? Do not include $ in answer. Example, if answer is $7, put 7.

Answer 1

Answer:

54,280

Step-by-step explanation:

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