10 free CFP practice questions in the real exam format, covering the official content areas, with an explanation for every answer.
CFP Practice Test 4Tutor mode
Question 1 of 10
Retirement Savings and Income Planning
Nolan Pierce, 62, retires today. He wants $70,000 a year in today's dollars, received at the beginning of each year and rising with inflation, for 25 years. A fixed pension with no cost-of-living adjustment will pay him $20,000 at the beginning of each of those 25 years. He expects 3% inflation and a 7% return on his portfolio. How much capital does he need today?