Current Aae Retirement Age 60 61 rrent Savines Interest Rate Monthly Retirement

Question

Current Aae Retirement Age 60 61 rrent Savines Interest Rate Monthly Retirement Contributions Life Expectancy Desired LERacy Retirement Ape Retirement Monthly SpendinE 51,500.00 $250.00 31,000.00 1,943.68 984 $706.95 $759.23 $817.56 $ 1,137.27 $1,248.77 1,379.21 934.62 1,010.27 $1,095.14 1,190.96 $1,299.94 $1,424.88 $1,569.48 1,738.66 $951.62 $1,026.69 $1,110.01 $1,202.97 1,307.27 $1,425.03 1,558.96 1,712.50 1,890.20 $2,098.10 $150.00 $1,016.91 1,097.51 $1,186.56 1,285.40 $1,395.68 $1,519.41 $1,659.10 1,817.97 $2,000.12 $2,210.92 $2,457.55 $200.00$1,150.14 $1,243.39 $1,346.43 1,460.80 $1,588.39 $1,731.54 $1,893.17 2,076.99 2,287.74 $2,531.64 $2,816.99 $250.00$1,283.38 1,389.28 $1,506.30 1,636.19 $1,781.09 $1,943.68 $2,127.25 2,336.01 $2,575.36 $2,852.36 $3,176.44 S300.00$1,416.61 1,535.17 $1,666.17 1,811.58 $1,973.80 2,155.81 $2,361.32 2,595.02 2,862.98 $3,173.08 $3,535.88 S350.00$ $1,826.04 1,986.97 $2,166.51 2,367.95 $2,595.39 2,854.04 $3,150.59 $3,493.80 $3,895.33 400.00$1,683.07 1,826.94 $1,985.91 2,162.36 $2,359,22 2,580.08 $2,82946 3,113.06 $3,438.21 $3,814.52 $4,254.77 450.00$1,816.30 1,972.83 $2,145.78 2,337.75 $2,55192 $2,792.22 $3,063.53 3,372.07 3,725.83 $4,135.24 $4,614.22 500.00$1,949.54 2 $3,004.35 $3,297,.60 3,631.09 $4,013.45 $4,455.96 $4,973.66 $883.00 $956.89 $1,040.92 $866.82 $1,549.84 $1,681.05 $2,118.72$2,305.65 $2,513.14 $2,744.63

Explanation / Answer

This is a Data table, shows the output (Retirement monthly spending) for different combinations of Monthly savings and Retirement age.

In this case, 5 attributes ( current age, current savings, interest rate, life expectancy, desired legacy) are assumed to be constant

Assume if monthly savings = 400, retirement age = 67 then Retirement monthly expenses = 3113.06

As you save more and Prolong your retirement age, Retirement spending can be high.

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