Withdrawing balances from accounts

R

Ray92

New Member
Joined
Jul 26, 2019
Messages
13
Hi,

Below are two banks, Bank A and Bank B where i am intending to withdraw based on the annual increase in withdrawal of 3% starting at age 70. Everthing works ok for me and and I provided the formula below that i am working on. However, I could not get the formula out for withdrawal. Given that the withdrawal amount is not present here, how can I know how much I can withdraw till the balances in account depletes to $0 at age 80? Note that I wish to withdraw from Bank A first till it depletes to $0, then continue with Bank B.

[TABLE="width: 907"]
<colgroup><col><col span="8"></colgroup><tbody>[TR]
[TD]Current age[/TD]
[TD="align: right"]60[/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Bank A balance[/TD]
[TD="align: right"]$180,000[/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Interest for Bank A[/TD]
[TD="align: right"]3%[/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Bank B balance[/TD]
[TD="align: right"]$150,000[/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Interest for Bank B[/TD]
[TD="align: right"]2.50%[/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]First withdrawal age[/TD]
[TD="align: right"]70[/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Last withdrawal age[/TD]
[TD="align: right"]80[/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Annual increase in withdrawal[/TD]
[TD="align: right"]3%[/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Year [/TD]
[TD]Age[/TD]
[TD]Beginning balance of Bank A (1)[/TD]
[TD]Draw-down from Bank A (2)[/TD]
[TD]Interest credited to Bank A (3)[/TD]
[TD]Beginning balance of Bank B (4)[/TD]
[TD]Draw-down from Bank B (5)[/TD]
[TD]Interest credited to Bank B (6)[/TD]
[TD]Total draw-down 7 = (2+5)[/TD]
[/TR]
[TR]
[TD]1[/TD]
[TD]60[/TD]
[TD]$180,000[/TD]
[TD]0[/TD]
[TD](1)-(2)*(B3)[/TD]
[TD]$150,000[/TD]
[TD]0[/TD]
[TD](4)-(5)*B5[/TD]
[TD]0[/TD]
[/TR]
[TR]
[TD]2[/TD]
[TD]61[/TD]
[TD](1)-(2)+(3)[/TD]
[TD]0[/TD]
[TD] [/TD]
[TD](4)-(5)+(6)[/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]0[/TD]
[/TR]
[TR]
[TD]3[/TD]
[TD]62[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]0[/TD]
[/TR]
[TR]
[TD]4[/TD]
[TD]63[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]0[/TD]
[/TR]
[TR]
[TD]5[/TD]
[TD]64[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]0[/TD]
[/TR]
[TR]
[TD]6[/TD]
[TD]65[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]0[/TD]
[/TR]
[TR]
[TD]7[/TD]
[TD]66[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]0[/TD]
[/TR]
[TR]
[TD]8[/TD]
[TD]67[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]0[/TD]
[/TR]
[TR]
[TD]9[/TD]
[TD]68[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]0[/TD]
[/TR]
[TR]
[TD]10[/TD]
[TD]69[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]0[/TD]
[/TR]
[TR]
[TD]11[/TD]
[TD]70[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
[TR]
[TD]12[/TD]
[TD]71[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
[TR]
[TD]13[/TD]
[TD]72[/TD]
[TD]$30,000[/TD]
[TD]-30000[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]-30000[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
[TR]
[TD]14[/TD]
[TD]73[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]-60000[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
[TR]
[TD]15[/TD]
[TD]74[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]-60000[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
[TR]
[TD]16[/TD]
[TD]75[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]-60000[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
[TR]
[TD]17[/TD]
[TD]76[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]-60000[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
[TR]
[TD]18[/TD]
[TD]77[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]-60000[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
[TR]
[TD]19[/TD]
[TD]78[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]-60000[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
[TR]
[TD]20[/TD]
[TD]79[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]-60000[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
[TR]
[TD]21[/TD]
[TD]80[/TD]
[TD] [/TD]
[TD]0[/TD]
[TD] [/TD]
[TD] [/TD]
[TD]-60000[/TD]
[TD] [/TD]
[TD]-60000[/TD]
[/TR]
</tbody>[/TABLE]
 

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