An investor wants to retire when she has $3,000,000 in savings, after-taxes. Given a 20% tax rate at retirement, how much money, per year, must she save in order to retire in 30 years, given an 11% annual return? Assume she uses a traditional IRA and liquidates the entire portfolio at retirement.
A) $12,827
B) $13,903
C) $15,074
D) $18,842
Correct Answer:
Verified
Q35: You earned 8% on your corporate bond
Q36: Which one of the following is not
Q37: In planning for retirement, an investor decides
Q38: How many years of Social Security contributions
Q39: A retirement plan that offers a tax
Q41: A regular retirement plan requires that taxes
Q42: Suppose you have maxed out your allowable
Q43: The employees of a firm complain that
Q44: An investor has an effective tax rate
Q45: Withdrawals after retirement from a traditional retirement
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents