Marie is 65 years old and ready to retire she has a 1, Ask an Expert

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Marie is 65 years old and ready to retire. She has a $ 1 million nest egg and wishes to spend $90,000 per year as an ordinary annuity (i.e, she will withdraw $90,000 per year at the end of each year). If her investment portfolio earns 6% annually, at what age will she run out of money? (Longevity risk).

a. Around 76 years old

b. Around 84 years old

c. Around 98 years old

d. Never

e. None of the above

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92167284

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