Business, 04.03.2021 21:20 tordoor7182
Congratulations, it's your 21st birthday, AND you just hit Powerball. You've decided to set a sum of money to enable you to retire at age 50, when you'll withdraw your first $500,000 check. You'll continue to withdraw money each year until age 85, when you'll croak. To account for inflation, you want each withdrawal to be 3% higher han he lost. You want to leave $10 million to your heirs 1 year after you shed this mortal coil. If you can earn 4% on investment, how much would you need to deposit today to meet your objectives
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