You have 35 years left until retirement and want to retire with

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You have 35 years left until retirement and want to retire with

You have 35 years left until retirement and want to retire with $1.3 million. Your salary is paid annually, and you will receive $63,000 at the end of the current year. Your salary will increase at 2 percent per year, and you can earn a return of 8 percent on the money you invest. If you save a constant percentage of your salary, what percentage of your salary must you save each year?

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You have 35 years left until retirement and want to retire with