You are trying to decide if you have enough money to retire. You are expecting $2,500 a m
Question Description
You
are trying to decide if you have enough money to retire. You are expecting $2,500 a month from Social
Security. You have $1.2 million in your
retirement savings, and you only want to use the earnings to live on, which is
at an 8% annual rate. You are currently
making $64,000 a year and plan to live on 80% of that amount. Do you have enough to retire based on these
numbers?
Question Description
You are trying to decide if you have enough money to retire. You are expecting $2,500 a month from Social Security. You have $1.2 million in your retirement savings, and you only want to use the earnings to live on, which is at an 8% annual rate. You are currently making $64,000 a year and plan to live on 80% of that amount. Do you have enough to retire based on these numbers?