Can I Retire and Would it be Pretty?

Euro_Skank

Ocelot said:

I have a spreadsheet that goes a little like this (amended to approximate your situation) - BOY means 'Beginning of year':

Year	Principal	Return	Int	Add (year not inc int)	Drawdown (boy)	Age (BOY)
2024	450,000	0.05	22,500.00	20,000.00		53
2025	492,500	0.05	24,625.00	10,000.00	40,000.00	54
2026	487,125	0.05	24,356.25	10,000.00	41,000.00	55

Principal is your remaining lump sum, return is a % rate on investment, 'Add' is additions to the principal that year, which may include the year's savings, pension income, rental income, inheritance, side hustle, redundancy, property/asset sales etc. Drawdown is the amount from the principal you spend that year in your retirement.  You can model various scenarios that way. Principal from 2025 is a formula to include Principal from previous year  + Int + Add - Drawdown. Drawdown in this scenario is adjusted by 1k each year to allow for inflation.

Hope this might be of some use.

Thanks a lot for this.