assume 7% return, 3% inflation, spend 400k a year after tax
I tried grok.com: I have 10m to start with, each year I cash out 500k for living at the beginning of the year, investment return 7%, inflation rate 3% meaning I need to cashout more each year, how much I will have left in 30 years, how much is that equivalent to what I have today
- Balance after 30 years: Approximately $2,030,000
- Purchasing power in today’s dollars: Approximately $836,000