finance 400

[hafizpasha]

determine the required savings per month for the following person to be able to retire at the age of 65.
current age: 25
Income at this age: $65,000
inflation :1.50% per year
bank interest :4.50%
Social security :$1750
Expected years to live: 95 years old

[CheekyChops]

Do your own assignment.

Or at least admit that's what it is and ask nicely, please and thank you wouldn't go amiss either.

[factor-fiction]

I agree with cheekychops.
Anyway, I don't think the question is clear- is the $65000 the income needed at age 65? It's not clear whether the $65000 p.a. figure is at current prices or at 2049 prices.

[factor-fiction]

Is the social security of $1750 a monthly figure? Is it what he'd get at age 65 . Is it at current day values or 2049 prices?
Does the income after age 65 need to increase in line with inflation?