you have just retierd what savings of five million dollars . if you expect to live for 42 years and earn 11% year on your savings how much can you afford to spend each year?
You have just retired with savings of $5 million. If you expect to live for 42 years and to earn 11% a year on your savings, how much can you afford to spend each year (in $ dollars)? $_______. (Assume that you spend the money at the start of each year.)