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 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.