Interest / dividends question

[Anonymous]

What if I wanted to pull $15k from interest-bearing accounts each year?

What would the balance need to be to do this? And retain the original balance?

This is a similar Q posed by people who early retire, and live off of interest. Except, I’m not inquiring about bigger amounts like $90k/annually.

I’m sorry I can’t find a calculator for this.
Maybe the most simple interest calculator would do? I feel like there’s a factor in there I can’t figure out ..

[Anonymous]

600k

[Anonymous]

Ok, I got a calculator.

-OP.

Thanks for your time. I couldn’t find it before and kept searching and searching. I think this will do: https://www.360financialliteracy.org/Calculators/Savings-Distribution-Calculator

[Anonymous]

You need to know the interest rate you are earning. Also do you want 15k pretax or post tax?

[Anonymous]

Just checked my Fidelity Govt money markets for July earning 4.87%, so for $15k in interest you would need a balance of $313,808 GL