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| Teaching Since: | May 2017 |
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| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
A client needs assistance with retirement planning. Here are the facts:
The client, Dave, is 21 years old. He wants to retire at 65.
Dave has disposable income of $2,000 per month.
The IRA Dave has chosen has an average annual return of 8%.
If Dave contributes half of his disposable income to the account, what will it be worth at 65? How much would he need to contribute to have $5,000,000 at 65?
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