Purchase Solution

Financial Plan to Retire to the Bahamas

Not what you're looking for?

Ask Custom Question

You are 35 years old and are considering your retirement needs. you expect to retire at age 65 and your actuarial tables suggest that you will live to be 100. you want to move to the Bahamas whey you retire. you estimate that it will cost you 300,000 to make the move (on your 65th birthday) and that your living expenses will be 30,000 a year (starting at the end of year 66 and continuing through the end of you 100) after that.

If you do not have any current savings and do not expect to be able to start saving money for the next five years, how much would you have to set aside each year after that to be able to afford this retirement?

Purchase this Solution

Solution Summary

Solution provides an Excel spreadsheet showing how much would have to be saved each year for a 35 year old to be able to retire with 30,000 a year in the Bahamas at the age of 65.

Purchase this Solution


Free BrainMass Quizzes
Introduction to Finance

This quiz test introductory finance topics.

Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

Managing the Older Worker

This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce

SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.