The Flemings Will Need $80,000 Annually for 20 Years During

question 129

Essay

The Flemings will need $80,000 annually for 20 years during retirement.How much will they need at retirement if they can earn a 4% rate of return?

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Definitions:

Flow of Earnings

Refers to the movement of profits or income generated by a business or investment over time.

Stock of Assets

Represents the total value of financial and physical assets owned by an individual, company, or country.

Wealth

The accumulation of valuable resources and assets, both tangible and intangible, that provide economic power or security to an individual or entity.

Wages and Salaries

Monetary compensation paid by employers to employees for their labor services, typically on an hourly, weekly, or annual basis.