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Retirement Number (45 points) Please show your work. Assume no social security or pension In...

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Finance

Retirement Number (45 points) Please show your work. Assume no social security or pension In today's dollars, they would like $108,000 (including taxes)

  1. In year 1 of retirement How much will they need to accumulate on their retirement date to meet their spending needs?
  2. How would this number change if they wanted to end their lives with $450,000 of investments to leave to their child?

Please answer above two questions.

Supporting information attached (income and balance sheet)

image Frank and Lois Fox Frank and Lois Fox Balance Sheet December 31, 2018

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