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Old 16th August 2007, 13:35   #11 (permalink)
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Re: Capital reduction

Quote:
Originally Posted by Mr Turkey
Nice spreadsheet - I couldn't do it !

Sorry to be the dark cloud ( again ) but I would caution people to only regard this as a guide.

Be sure to include the effects of taxation on your deposit and interest earned, which reduces the figure, and allow for inflation when estimating your interest rate.

How you do this on a spread sheet someone smarter than me will have to answer.

MR TURKEY
This is a bit hard to predict as who knows what inflation,tax or interest rates are going to do in the future, so have left that out of the equasion.

I just update my spread sheet each year just to see how long money could last.I estimated I had another 30 years to live when I first wrote a spread sheet.

I suppose you could put the figures in as Turkish Lira and Turkish interest rates to see how the money would do.If you do this it may be wise to deduct what you have to pay in tax before you get excited with the great return.
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Last edited by jcrian; 16th August 2007 at 13:46..
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Old 16th August 2007, 13:51   #12 (permalink)
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Re: Capital reduction

Well I'm impressed with the sheet in any event , and there is no way I can do it ! Good idea to share it on the forum.

With income tax and inflation factored in you might find that balance figure declining over the years instead of increasing. Do you reckon you can come up with one that allows these items to be added ? I guess that's a real tall order ..... Just thought I would ask !!!

Oh how I hate tax .

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Old 16th August 2007, 13:55   #13 (permalink)
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Re: Capital reduction

Quote:
Originally Posted by Mr Turkey
Well I'm impressed with the sheet in any event , and there is no way I can do it ! Good idea to share it on the forum.

With income tax and inflation factored in you might find that balance figure declining over the years instead of increasing. Do you reckon you can come up with one that allows these items to be added ? I guess that's a real tall order ..... Just thought I would ask !!!

Oh how I hate tax .

MR TURKEY
Well if I knew what the inflation figures were (I don't believe the government figures) then yes it could be added.But as this figure is an impossible figure to predict I don't see much point.Tax could be added but it would depend if you had another income to take into account.
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Old 16th August 2007, 15:11   #14 (permalink)
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Re: Capital reduction

I added inflation by changing the amount you are withdrawing each year by making it 500 more each year. my total figure declined rapidly over the years, but I still had loads money left after 30 years.
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Old 16th August 2007, 15:14   #15 (permalink)
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Re: Capital reduction

To work out interest, just change it to a lower rate,, say you are getting 4% after tax, change the interest to 4%.
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Old 16th August 2007, 15:27   #16 (permalink)
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Re: Capital reduction

Quote:
Originally Posted by Rachels100
I added inflation by changing the amount you are withdrawing each year by making it 500 more each year. my total figure declined rapidly over the years, but I still had loads money left after 30 years.
The secret Rach is to get the last year with a capital figure of zero unless you want to be the richest person in the graveyard.Difficult to predict when that final year will be especially when you are as young as you!
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Old 16th August 2007, 16:33   #17 (permalink)
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Re: Capital reduction

Thanks for that, Had no probs saving the sheet.

Cheers
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Old 16th August 2007, 22:11   #18 (permalink)
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Re: Capital reduction

Nice spreadsheet,
I do like stuff like that, but what is the meaning of the graphics below ?

Just for fun I added 2 percent (let's call in inflation) to the amount you withdraw every year (just as Jane ,but I used a percentage),.... it still looks nice

For those who like to see it, I attach it, I called it capital-reduction-withinflation
Attached Files
File Type: xls capital-reduction-withinflation.xls (38.0 KB, 153 views)
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Old 17th August 2007, 00:02   #19 (permalink)
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Re: Capital reduction

Quote:
Originally Posted by sparrow
Nice spreadsheet,
I do like stuff like that, but what is the meaning of the graphics below ?

Just for fun I added 2 percent (let's call in inflation) to the amount you withdraw every year (just as Jane ,but I used a percentage),.... it still looks nice

For those who like to see it, I attach it, I called it capital-reduction-withinflation

Thanks very much, the difference can be staggering. 2% inflation is an excellent rate.
Now modify the interest rate down to 4% to account for tax and you get a very different picture.

140,000 different.

Cheers for the work.
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Old 17th August 2007, 01:12   #20 (permalink)
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Re: Capital reduction

I agree, a superb spreadsheet; remember though that money invested in Turkish banks can generate a typical 17.5% compound daily interest (garranti bank on about 8K) risk free (higher 20%+ possible with some risk) so the returns for around 60k invested can generate approx 175 pw, with slightly increasing capital. So anyone retiring to Turkey with minimum UK state pension (us!) and a bit of capital from house sale can be be quite well off-yet retaining a property with increasing value plus a good income plus capital growth! Can't be bad.
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