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Let's say that you retire with $1,000,000. You put the money in an investment that grows at 9% per year (wow!). If you start withdrawing
Let's say that you retire with $1,000,000. You put the money in an investment that grows at 9% per year (wow!). If you start withdrawing 15% of the initial $1,000,000 balance (so, $150,000, at the BEGINNING of each year) every year, during what year will the money run out??
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