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QUESTION
are a 35 year old continuing education student who has just realized the benefit of starting a 401(k). Suppose your employer sponsors a 401(k) plan...
- are a 35 year old continuing education student who has just realized the benefit of starting a 401(k). Suppose your employer sponsors a 401(k) plan and will match your contributions. If you assume an interest rate of 9% compounded monthly on level cash flows and you want to have $1.5 million accumulated in your 401(k) portfolio by the time you're 62, how much will your personal monthly deferral amounts need to be?
