Hi
Is there a way to factor rising income into FV calculations? I know the starting value and the starting income but I want to be able to inflate the income annually to keep pace with an assumed inflation rate.
I know how to do it as a series of calculations but what I want to do is give somebody the opportunity to put a future age in a cell and for the formula to give him his future fund value using annually rising income withdrawals up to that point.
The person I have in mind is currently 70. He has a starting fund value of £655,152. First year income will be £32,757 (withdrawn in monthly instalments but I can work with 1 annual withdrawal for this purpose). Assumed inflation/annual income increases is 2.5%pa.
Many thanks
Ian Jemmett
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