Supposeyouarecurrently30yearsold,expecttoretirein35yearsatage65,andthentolivefor20moreyearsuntilage85.Yourcurrentpre-taxincomeis100,000andisexpectedtogrowat2%peryear.Thepre-taxinterestrateis5%andyourtaxrateis35%.Forsimplicity,assumethatallcashflowsoccurattheendoftheyear.Q:Youdecidethatyouwanttospendaconstantamountperyearfotherestofyourlife,i.e.,fromage30toage85.Howmuchcanyouspendperyear?Areyousavingforretirementatage30?