2007-03-01

livingdeb: (Default)
2007-03-01 07:09 pm

Annoying Real Life Math Problem

Given:

a) You should save at least 10% of your income for retirement and
b) To be sure of not outlasting your money, you should withdraw no more than 4% per year and
c) some simplifying assumptions,

Conclude:

You need to save for 40 years.