A Person plans to retire today and expects to begin living off their retirement savings beginning one year from now and continuing until death. Identify and explain key variables that will influence the amount of income that can be taken from retirement saving annually until death. How will increasing and decreasing these key variables impact the income amount?
Thank you for the opportunity to help you with your question!
If I retire today and don't begin to use my retirement savings as income
until one year from today, there are several variables that should be
taken into consideration. I would weigh the specific variables of my
retirement plan to determine contribution limits and restrictions
against current savings.
Planning for retirement by an individual involves a
calculation of the amount that should be saved for a given period The
individual will evaluate the effectiveness of his or her savings by paring it
with the amount he or she is set to receive during his retirement period
(Slott, ****) However, there are various variables that determine the amount of
income that can be taken from his or her savings annually until his death.
Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 4th, 2015
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