Assume Your Goal in Life Is to Retire with 3

question 64

Multiple Choice

Assume your goal in life is to retire with 3 million dollars.How much would you need to save at the end of each year if investment rates average 8% and you have a 14-year work life?

• A) $41,159
• B) $ 123,891
• C) $ 175,706
• D) $ 82,582

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Definitions:

Nonstrategic View

A perspective that does not involve planning or strategy, often focusing on immediate or reactive actions.

First-Mover

An enterprise that secures a leading position in the market by pioneering a new offering or service.

Second-Mover

A business strategy where a company follows the lead of the first entrants in a market rather than pioneering a new product or service.

Strategic View

An approach to decision-making that takes into account the broader implications and outcomes of actions, often considering the long-term objectives.