Johin and Mary are both 28 and newly married. They have come to you for a financial plan. They have already saved $76.400 in their retirement accounts and just purchased a new home. They would like to retire at age 67 , their ful retirement age for Social Security. They believe they will need to accumulate $2,500,000.00 in retirenent assets in order to retire comfortably. You have recommended an investment strategy earning a 9.0% return on an annualized basis. John and Mary would lilke to know how much they wil need to save on a monthly basis in order to reach their goal of $2.5 million by age 67 . You should calculate how much they will need to save on a monthiy bark if they invest at the beginning of the month and the end of the month. You need to show two sets of calculations for this problem. This problem is worth 10 points.

Q&A Education