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A couple is told that to retire comfortably they will need to accumulate a nest egg of about $1

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5.1. A couple is told that to retire comfortably they will need to accumulate a nest egg of about $1 million dollars. Is this an insurmountable hurdle? How much would two people have to save per day starting at age 20 over a 45 year period to achieve this sum at age 65? Assume that the investment will earn 8% annually and that the couple buys two Starbuck?s caf? lattes per day.;5.2. What would happen if at age 50 the couple needed to access $100,000 for an unforeseen emergency, how much would need to be saved in the last 15 years (assuming 8% annual return)?;Additional Requirements;Level of Detail: Show all work

 

Paper#28732 | Written in 18-Jul-2015

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