So, in 25 years you'll have saved about $2,702,947.50. You think you can earn 5% per year in retirement and assume inflation will average 3.5% per year. You decide to increase your annual withdrawal by 3.5%, and want the money to last for 35 years with nothing left for heirs after that time. You can use our calculator below to help you think. You are also contributing to a 401(k) and after using my 401(k) Calculator found it will be worth about $120,000 by the time you retire at 65. your investments dont perform as well as you expect, and you dont adjust the amount you take accordingly. You also have $500,000 in IRAs (between the two of you) and will continue to contribute $8,000 ($4,000 each spouse) each year until you retire at 65. You're earning 5% per year on your taxable and IRA money and expect that to continue.Īfter using my Savings Calculator, you found that you will have $2,582,947.50 (between your taxable account and IRAs) in 25 years. Drawdown at Pumping Well calculator uses Drawdown at the Pumping Well (Saturated Thickness of the Aquifer-Depth of Water in the Pumping Well) to calculate the. You and your spouse currently have $150,000 in a taxable account to which you're no longer contributing. Thus, the drawdown is the differential pressure that drives fluids from the reservoir into the wellbore. You're 40 years old and would like to retire at 65 (in 25 years). Your spouse will retire with you. Pressure Drawdown (P) is defined as the difference between the static bottom hole pressure (SBHP) and the flowing bottom hole pressure (Pwf). The parameters used to calculate the flow ratio are also given schematically.You will be able to withdraw the equivalent of $25,448.65 (in today's $) at the beginning of each year. That seems pretty good. You also remembered you'll be getting Social Security benefits, so all is well! (Assuming all the above assumptions are met, of course.) Now you can work out the pressure tank drawdown capacity you need. Use this moment to make a note of your pump’s flow rate and run time.
Pump flow rate of 20+ GMP: 2.0 GPM of run time. Pump flow rate of 10-20 GPM: 1.5 GPM of run time. 1,000,000.00 or 1000000=amount saved at time of retirement Pump flow rate of 0-10 GPM: 1.0 GPM of run time.(You think you'll live to 100 years old.)
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