Will I Run Out Of Money? No Software Or Program Covers My Situation

John Sears | Dec 25, 2015 | 67 posts since 2015

I have the principal amount I was left. Most is in 5 year CDs.

I was left an IRA, I take $5K each year RMD. $2K interest has to remain in it.

I have interest coming in monthly from the 5 year CDs.

I receive monthly Social Security.

I dip in roughly $1K/month to cover a $40K yearly budget.

I'm 63.

I have to break $10K CDs to supplement the $5K available from the IRA.

The rent goes up about $500/year.

As rent goes up, principal goes down as CDs are broken.

I don't believe there is any spreadsheet or retirement calculator that will take into account the changes each year. Can anyone help? Thanks.

Post an answer

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.