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EXAMPLES:  You're 59 years old and thinking about retiring soon. You've saved $1,000,000.00, don't spend much and have a home that is already paid in full. You only need to increase your annual spending about 2% each year.
You think that maybe food prices and gasoline prices will rise. Hopefully not, but they probably will. Now you want to know how much you can spend each year. Enter:
 6 =Years until you retire (age 65)
 35 =Years of retirement. (You think you'll live to 100 years old.)
 2 =Interest Rate
 2 =Inflation Rate (the rate you want to withdraw annually)
 1,000,000.00 =amount saved at time of retirement
 0 =amount left
Press View Schedule You will be able to withdraw the equivalent of $ 25,370.61 ( (in today's $) each year. That seems pretty good. You also remembered you'll be getting Social Security benefits, so all is well! (Assuming all the above assumptions are met, of course.)
 You're 40 years old and would like to retire at 65 (in 25 years). Your spouse will retire with you.
You and your spouse currently have $150,000 in a taxable account to which you're no longer contributing. You also have $500,000 in IRAs (between the two of you) and will continue to contribute $8,000 ($4,000 each spouse) each year until you retire at 65. You're earning 5% per year on your taxable and IRA money and expect that to continue. You just used my Savings Calculator and found that you will have $2,582,947.50 (between your taxable account and IRAs) in 25 years. You are also contributing to a 401(k) and after using my 401(k) Calculator found it will be worth about $120,000 by the time you retire at 65. So, in 25 years you'll have saved about $2,702,947.50. You think you can earn 5% per year in retirement and assume inflation will average 3.5% per year. So you'll increase your annual withdrawal by 3.5%. You want the money to last for 35 years with nothing left for heirs after that time. Enter:
 25 =Years until you retire (age 40 to age 65)
 35 =Years of retirement
 5 =Interest Rate
 3.5 =Inflation Rate (the rate you'll withdraw annually)
 2,702,947.50 =amount saved at time of retirement
 0 =amount left
Press View Schedule You will be able to withdraw the equivalent of $ 41,296.86 (in today's $) each year  adjusting for inflation (see schedule). (Assuming all the above assumptions are met, of course.)
 Remember, any other benefits you may receive (Social Security, Pension, Annuity, etc.) will be added to your income.
Be sure to review your plan periodically or as requirements change!

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