question archive Troy and Kristy Reynolds (both currently 56) have determined that they will require retirement income equal to $93,000 in today's dollars, based on their current income

Troy and Kristy Reynolds (both currently 56) have determined that they will require retirement income equal to $93,000 in today's dollars, based on their current income

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Troy and Kristy Reynolds (both currently 56) have determined that they will require retirement income equal to $93,000 in today's dollars, based on their current income. They plan to retire in 8 years and wish to assume an after-tax return on their investments, prior to retirement, of 8%. They plan to readjust their assets after retirement and believe that their net return will drop to 6%. Troy's parents are both in their late eighties, and Kristy's parents are in their seventies. Troy and Kristy assume that retirement will last for 30 years, and that inflation will average 2%

4.If the Reynolds wanted to leave a specific bequest to their favorite charity (Wounded Warrior Project) in the amount of $2million (actual donation at death), how much additional capital would they need to have accumulated at the time they retire at age 64?

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