This applet computes how long your money will last by doing yearly withdrawals and adding of interest according to its input. See below for definitions.
Buttons:
Reset - sets input fields to values when Compute button last pressed
Compute/Stop - Starts/stops the computations and displays the results
Continue - sets input fields to where the computations ended to allow
changes to input data for a future date. Enables text editting
of the display.
Input definitions:
Outside: Funds outside of IRAs
Traditional: Funds in a Traditional IRA (taxed on withdrawal)
Roth: Funds in a Roth IRA
Withdraw: Amount (after taxes) to be withdrawn each year.
Will be computed if a ? entered.
Int Rate: Interest rate. Eg. .07 for 7%
Tax Rate: Tax rate. Will be computed if left blank.
Sample Fed rates for incomes: 50K->17% 60K->18.8% 70K->20.1% 80K->21.1%
nbr Years: number of years to run calculation. Eg. 99
Output defintions:
Year: the year starting at 0
Outside, Traditional and Roth: Remaining balance at end of year
taxes paid: amount of taxes paid
Total worth: Sum of Outside, Traditional and Roth
Computations:
The totals for the current year are displayed. Then the withdrawals
for the year are made and then the interest is added for the amount
remaining at the end of the year. Withdrawals from Outside and Roth
are without taxes. Withdrawals from the Traditional are increased
by the amount of taxes to be paid. Interest paid to Outside is reduced
by amount of taxes.