How much can i safely withdraw each month and end up

Reference no: EM133369384

Question: I have just retired and I notice in my retirement fund I have a balance of $2,000,000. I am thinking I will probably live another 30 years (360 months). I feel very comfortable that my fund will continue to earn 5% over the remainder of my life. I want to leave a surplus of about $500,000 at the end of my life in 30 years. About how much can I safely withdraw each month and end up with the desired surplus?

Reference no: EM133369384

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