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1) You plan to live for 30 years after your retirement at age 65 and to...

1) You plan to live for 30 years after your retirement at age 65 and to have saved $1 million in your retirement account by then. How much can you afford (i.e., maximum) to withdraw per month, at the beginning of each month, assuming your savings generate a rate of return of 6% per year? 2) For Q1 above, what would be the answer if you also plan to leave $1.5 million for your kids when you die at the age of 95?

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