Can Anthony afford to retire
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Can Anthony afford to retire “Can Anthony afford to retire?” Anthony seeks to retire in December 2036 with a $1,000,000 nest egg. He has already saved $300,000. Assume that Anthony makes deposits at the end of every year.Provide advice to Anthony on the following questions (with quantitative detail, as applicable):a. If Anthony earns a 4% annual return, how much should he contribute annually to have enough to retire in the end of 2036 [include the deposit made in 2036]? If Anthony saves an additional $2,000 per year, by how much will he exceed his nest egg goal? If Anthony instead only realizes a 3.0% annual return, how should Anthony adjust his contributions to meet his goal?b. Anthony expects to live for 15 years after his retirement and anticipates earning a conservative 2% net annual return during his retirement years. What level of annual expenditure will his nest egg support?