Financial Question going on for retirement for institution...?
Okay, any help at adjectives is greatly appreciated on this. You don't have to enlighten me the answer, just some relieve would be great. Thanks!Here's the question: You plan to own $750,000 in nest egg and investments when you retire at age 60. Assuming that you earn an average of 9 percent on this portfolio, what is the maximum annual withdrawal you can craft over a 25-year period of retirement?
Thanks again. ^^
Answers: Use a mortgage calculator and determine the payment(principal and interest) on a 25 year mortgage at 9% interest of a 750K loan.
Hint the answer should be greater than 750,000 * 0.09 because that does not make smaller the principal at all.
Open up an Excel spreadsheet and set it up so that this year's stability is last year's plus 9% smaller number a variable amount withdrawn. Then silver the variable amount to one that yield zero match after the 25th year. It will be around $75,000 or so, but you'd need to do the exact math.
Please estimate my monthly payments?
I am getting charged 21.99% and I made purchase totaling $2100.00Answers: it will be $37 in interest per month. You will probably enjoy to pay between $63 and $105 a month. The more you pay cheque, the less interest you will run out up paying and the sooner your debt will be paid bad. At 21% paying the debt should be a high priority.
approximately
$2100 x .2199 / 12 = $38.48 per month, for interest lone.
Don't know the total payment, because it depends on your credit card for whether you inevitability to pay down the principal.
Should I switch banks/cancel my WaMu credit card?
I'm 21 and got a WaMu secured credit card a few months ago. I am really unsatisfied next to WaMu and their customer service so my plan is to cancel the card right formerly the year ended to avoid have pay another annual payment. Here's the thing:I'm guessing that my credit ranking is really high. From a $500 credit decrease, I never spend more than $150/mo and I have other payed it completely, in time. However, I hear that when you cancel credit cards, you lose points on your credit evaluation? Is there anyway to avoid this? I purely really want to switch banks. I'm feed up with WaMu and this piece of cast-offs secured credit card. Thanks!
Answers: Why exactly are you unhappy beside them? I use them for banking and be considering their card because they offer scorewatch.
You should not quash this card until you get another card, that passageway if your fico goes down because you cancelled the card, you will own already got yourself another. This will preserve you from getting declined hopefully.
I work for a mound, and if you have a secured card, it's to relieve you build your credit score, and I know you are probably thinking that almost a year of on the dot payments, never paying late or going over the restriction would do wonders for your FICO score, but it doesn't other. I would check your credit before canceling anything. Go online and look for a channel to get a copy of your credit report, you can usually find a place to turn for free. As far as your annual fee, no issue what credit card company you go to, if you own a secured card product, there is an annual duty. I am sorry that you haven't had much luck near their customer service. But again, before you invalidate, check out your score.