Retirement Fund Formula
Example given: 30 yr. old will retire at 60 and will live until 80 yrs. old
Step 1: (Ideal monthly pension x 12 months x # of retirement years = Target amount)
Ex. (50,000 x 12 mos. x 20 years = 12,000,000)
Step 2: (Target amount / # of years to retirement / 12 months = Amount to save per month)
Ex. (12,000,000 / 30 years / 12 months = 33,000)
