When You Retire You Expect to Live for Another 30

question 127

Multiple Choice

When you retire you expect to live for another 30 years.During those 30 years you want to be able to withdraw $45,000 at the BEGINNING of each year for living expenses.How much money do you have to have in your retirement account to make this happen.Assume that you can earn 8% on your investments.

• A) $1,350,000.00
• B) $506,600.25
• C) $547,128.27
• D) $723,745.49

---

Definitions:

Fairness and Honesty

Fairness and honesty refer to the ethical practices of being impartial, just, and truthful in personal actions and business transactions.

Whistleblowing

The act of an employee exposing an employer’s wrongdoing to outsiders, such as the media or government regulatory agencies.