Use this calculator to find out how much money you must have in your savings account to make recurring withdrawals of a specified amount.
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You will need $19,532.02 in savings to be able to make 20 Monthly withdrawals in the amount of $1,000.00.
This calculator assumes that periodic withdrawals will start on the first day of the current month and that Daily compounding is used for the accrual of interest on your savings.
The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.
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