Calculate retirement distributions needed to provide desired net income.

[dtwiddy]

I'm afraid to even ask this because I know someone is going to answer in a coding language that I don't understand. I have built a pretty intricate retirement calculator in excel with lots of =IF, =VLOOKUP, =SUMIF, etc. formulas. I don't know anything about macro or VGA, etc. I'm gonna try to share the calculator here from Google Docs but I've never tried this before, so let me know if it doesn't work. It takes in to account multiple accounts, inflation, taxes, RMD's, social security, and much more. Ignore the Results tab, Life Insurance tab, and Graphs tab for now. Just plug all the info in the Inputs tab and look at the Income tab. My issue is that it will pull from the accounts the amount desired for retirement but then it takes out taxes. I don't know how to make it take out what would be required to give that value after taxes. Please help but be patient as I have a lot of real formulas and coding to learn.

https://docs.google.com/spreadsheet...e8Wzrr-1GOg90GEj-CnUYCX5Ak/edit#gid=942325155

 

[PatOBrien198]

The formula would be :

Total Withdrawal = (Amount Desired) / (1 - Tax Rate)

Example: Amount desired =45000
Tax rate: 25%

Total Withdrawal = (45,000) /(1 - 0.25) = 45,000/0.75 = 60,000

 

[dtwiddy]

Except I don't know what the tax rate is. The calculator looks at the taxable income, minuses out the standard deduction, then runs it through the tax brackets. I can use Goal Seek afterwards to find out what the new distribution should be to give the desired after tax income but I have to do it line by line. I was hoping I could change the formula somewhere or maybe use a button to activate a macro to do it all at once. Not sure how that works though.

The formula would be :

Total Withdrawal = (Amount Desired) / (1 - Tax Rate)

Example: Amount desired =45000
Tax rate: 25%

Total Withdrawal = (45,000) /(1 - 0.25) = 45,000/0.75 = 60,000