Consider that you are 35 yrs old and have just changed to a new job. You have $158,000 in the retirement plan from your former employer. you can roll that money into the retirement plan of the new employer
Consider that you are 35 yrs old and have just changed to a new job. You have $158,000 in the retirement plan from your former employer. you can roll that money into the retirement plan of the new employer. You will also contribute $8,000 each year into your new employer’s plan. If the rolled-over money and the new contributions both earn an 6% return, how much should you expect to have when you retire in 30 yrs? Future value $ .
2. Your client has been given a trust fund valued at $1.64 million. She cannot access the money until she turns 65 yrs old, which is in 15 yrs. At that time , she can withdraw $18,000 per month. If the trust fund is invested at a 4.5 % rate, compounded monthly, how many months will it last your client once she starts to withdraw the money?
Number of months .
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