Monday, October 27, 2008

Ok, I'm relenting. I'll retire by 50.

Your XX000.00 current monthly income will be Php 34380.00 after 17.00 years at inflation of 5% a year. The 34380.00 a  month is Php 412560.00 in a year. You should have a net retirement fund (after 17.00 years) amounting to Php 4125600.00 that earn not less than20.00% per annun to give you Php 34380.00 a month or Php 412560.00 in a year to sustain your current lifestyle without working.In order to have that retirement of Php 4125600.00, you need to start saving Php 38946.25 a year or Php 3245.52 per month for the next 17.00 years at a rate of 20.00% per annum.