you are planning your retirement in 14 years. you currently have $174,000 in a b

Question

you are planning your retirement in 14 years. you currently have $174,000 in a bond account and 614,000,000 in a stock account. you plan to add $6,600 per year at the end of the next 14 years to your bond account. the stock account will earn an 11% return and the bond account will earn a 7.5% return. when you retire you plan to withdraw an equal amount for each of the next 21 years at the end of each year and have nothing left. Additionally, when you retire you will transfer your money to an account that earns 6.75%. how much can you withdraw each year?

Explanation / Answer

you will have 5600000 since you subtracted 61400000 from 174000 and divided by 6.75

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