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bit of a math problem. so if I retire at age 65 and withdraw 50,000 dollars...

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Advance Math

bit of a math problem. so if I retire at age 65 and withdraw50,000 dollars from my 401k every year until I die at age 72, andthere is an inflation rate of 2%, how much money do I need toinitially be in my 401k to make it to my death without goingbroke?

Having trouble thinking of what formula to use because compoundinterest using the inflation rate is one thing but I'm not surewhat to do about the 50,000 plus whatever interest that i wouldkeep dishing out each year.

Answer & Explanation Solved by verified expert
4.3 Ratings (775 Votes)
To answer your query let us look at the problem in a differentwayInstead of withdrawing the the amount each year assume you wereto add 50000 to the    See Answer
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