Alonzo is 35 years old and earning $57 000 annually.He has a two percent defined-benefit plan based on the average of his last five years of income.He just started saving $2500 per year in an RRSP and expects to earn seven percent annually.Assume that the average of his last five years of employment earnings is $65 000.How much annual income will he have if he decides to retire at age 65 and expects to live to age 85?

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The Answer of Alonzo is 35 years old and earning $57 000 annually.He has a two percent defined-benefit plan based on the average of his last five years of income.He just started saving $2500 per year in an RRSP and expects to earn seven percent annually.Assume that the average of his last five years of employment earnings is $65 000.How much annual income will he have if he decides to retire at age 65 and expects to live to age 85?

Alonzo Is 35 Years Old and Earning $57 000 Annually