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Your employer offers a 401(k) plan with a 10% match, and you set a goal of retiring in 26 years with an amount of money
Posted: Sun May 08, 2022 10:30 am
by answerhappygod
- Your Employer Offers A 401 K Plan With A 10 Match And You Set A Goal Of Retiring In 26 Years With An Amount Of Money 1 (18.09 KiB) Viewed 22 times
Your employer offers a 401(k) plan with a 10% match, and you set a goal of retiring in 26 years with an amount of money which has the same buying power that 1.6 million dollars has today. If the account earns an annual interest rate of 1,8% and the expected annual rate of inflation is 1.8%, how much should YOU contribute each month to the 401(k)? Round your answer to the nearest dollar.