Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. there is a growing movement among some millennials

There is a growing movement among some millennials that goes by the acronym FIRE, which...

70.2K

Verified Solution

Question

Accounting

image
There is a growing movement among some millennials that goes by the acronym FIRE, which stands for Financial Independence, Retire Early Proponents of FIRE believe that you should save most of what you earn and invest it in a well-diversified portfolio of high-quality assets. The goal is to retire while still in your 30s. Assume that you want to spend $50,000 per year and you believe that you can earn 5% per year on a well-diversified portfolio What size of portfolio would you need in order to live off of the earnings on the portfolio? Multiple Choice $1,000,000 $2,000,000 $4,000,000 $3,000,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students