John is planning his retirement which will occur in the future. During retirement, he wishes to withdraw $ per month from his portfolio for the first years and $ per month for the second years. He plans to withdraw from this investment for a total of years. In addition, John want to leave $ to his heirs at the end of the retirement period. John plans to earn percent compounded monthly during retirement.
John plans to save $ per month in an asset that earns percent compounded monthly. How many years must he save to fully fund his retirement and inheritance? Assume monthly compounding.
Beginning Amount
Savings amount $ per month
Rate during Savings APR annual
Monthly Compounding M
Length of retirement period years
First Withdrawal Period Length years
Second Withdrawal Period Length years
Rate during Retirement
Withdrawal amount st period $ per month
Withdrawal amount nd period $ per month
Inheritance $
Monthly compounding M
