You want to be able to withdraw 40,000 from your account each year for 20 years after you retire

Question

David Nguyen · Accepted Answer

First, we need to find the present value of the withdrawals during the retirement period. We can

You want to be able to withdraw $40,000 from your account each year for 20 years after you retire. You expect to retire in 25 years. If your account earns 4% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?