You Want to Retire in 40 Years and You Have

question 7

Multiple Choice

You want to retire in 40 years and you have $40,000 saved in your retirement account. You believe you will need $1,500,000 upon retirement. What rate will you need to earn on the account to achieve this goal?

• A) 6.75 percent
• B) 7.48 percent
• C) 9.13 percent
• D) 9.48 percent

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Definitions:

Energy Level

A measure of the physical or mental vitality or capacity for activity one has.

Taking Care

The act of looking after someone or something to ensure their well-being.

Strategies

General plans or sets of actions aimed at achieving specific goals or solving particular problems.

Overextending Yourself

Taking on too many tasks or commitments simultaneously, leading to stress, burnout, or failure to effectively manage time and responsibilities.