How long $300,000 lasts at 7% when you withdraw $5,000 a month
$300,000 earns 7% compounded monthly while $5,000 is withdrawn at the end of every month. The calculation runs for up to 50 years.
Result
| Time until assets run out (Tax-free) | About 6 years 3 months |
|---|---|
| Time until assets run out (Taxed per period) | About 5 years 11 months |
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Year-by-year growth
| Year | Withdrawn | Balance |
|---|---|---|
| 1 | 60,000 | 259,724 |
| 2 | 120,000 | 216,537 |
| 3 | 180,000 | 170,227 |
| 4 | 240,000 | 120,570 |
| 5 | 300,000 | 67,323 |
| 6 | 360,000 | 10,226 |
| 7 | 370,317 | 0 |