TIPS Ladder Withdrawals (Sheet1)
Initial WR	Withdrawal	40,000	41,200	42,436	43,709	45,020	46,371	47,762	49,195	50,671	52,191	53,757	55,369	57,030	58,741	60,504	62,319	64,188	66,114	68,097	70,140	72,244	74,412	76,644	78,943	81,312	83,751	86,264	88,852	91,517	94,263	Withdrawal
4.0%	Year	-1	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24	25	26	27	28	29	Year
Inflation	Step -1	50,000																														Step -1
3.0%	Step 1	50,000	51,500																													Step 1
Real Rate	Step 2	50,000	51,500	53,045																												Step 2
1.3%	Step 3	50,000	51,500	53,045	54,636																											Step 3
	Step 4	50,000	51,500	53,045	54,636	56,275																										Step 4
	Step 5	50,000	51,500	53,045	54,636	56,275	57,964																									Step 5
	Step 6	50,000	51,500	53,045	54,636	56,275	57,964	59,703																								Step 6
	Step 7	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494																							Step 7
	Step 8	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339																						Step 8
	Step 9	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239																					Step 9
	Step 10	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196																				Step 10
	Step 11	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196	69,212																			Step 11
	Step 12	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196	69,212	71,288																		Step 12
	Step 13	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196	69,212	71,288	73,427																	Step 13
	Step 14	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196	69,212	71,288	73,427	75,629																Step 14
	Step 15	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196	69,212	71,288	73,427	75,629	77,898															Step 15
	Step 16	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196	69,212	71,288	73,427	75,629	77,898	80,235														Step 16
	Step 17	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196	69,212	71,288	73,427	75,629	77,898	80,235	82,642													Step 17
	Step 18	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196	69,212	71,288	73,427	75,629	77,898	80,235	82,642	85,122												Step 18
	Step 19	50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196	69,212	71,288	73,427	75,629	77,898	80,235	82,642	85,122	87,675											Step 19
	Step 20	23,000	23,690	24,401	25,133	25,887	26,663	27,463	28,287	29,136	30,010	30,910	31,837	32,793	33,776	34,790	35,833	36,908	38,015	39,156	40,331	41,541										Step 20
	Step 20											25,907	26,684	27,485	28,309	29,159	30,034	30,935	31,863	32,818	33,803	34,817										Step 20
	Step 21		23,328	24,028	24,749	25,492	26,256	27,044	27,855	28,691	29,552	30,438	31,352	32,292	33,261	34,259	35,286	36,345	37,435	38,558	39,715	40,907	42,134									Step 21
	Step 21												26,132	26,915	27,723	28,555	29,411	30,294	31,202	32,139	33,103	34,096	35,119									Step 21
	Step 22			23,651	24,361	25,091	25,844	26,620	27,418	28,241	29,088	29,961	30,859	31,785	32,739	33,721	34,732	35,774	36,848	37,953	39,092	40,264	41,472	42,717								Step 22
	Step 22													26,339	27,129	27,943	28,781	29,644	30,534	31,450	32,393	33,365	34,366	35,397								Step 22
	Step 23				23,967	24,686	25,427	26,189	26,975	27,784	28,618	29,476	30,361	31,272	32,210	33,176	34,171	35,196	36,252	37,340	38,460	39,614	40,802	42,026	43,287							Step 23
	Step 23														26,527	27,323	28,142	28,987	29,856	30,752	31,675	32,625	33,604	34,612	35,650							Step 23
	Step 24					24,275	25,004	25,754	26,526	27,322	28,142	28,986	29,856	30,751	31,674	32,624	33,603	34,611	35,649	36,719	37,820	38,955	40,124	41,327	42,567	43,844						Step 24
	Step 24															26,695	27,496	28,320	29,170	30,045	30,947	31,875	32,831	33,816	34,831	35,876						Step 24
	Step 25						24,575	25,312	26,072	26,854	27,660	28,489	29,344	30,224	31,131	32,065	33,027	34,018	35,038	36,089	37,172	38,287	39,436	40,619	41,838	43,093	44,386					Step 25
	Step 25																26,840	27,646	28,475	29,329	30,209	31,115	32,049	33,010	34,001	35,021	36,071					Step 25
	Step 25																					13,219	13,615	14,024	14,444	14,878	15,324					Step 25
	Step 26							24,865	25,611	26,380	27,171	27,986	28,826	29,691	30,581	31,499	32,444	33,417	34,419	35,452	36,516	37,611	38,739	39,902	41,099	42,332	43,602	44,910				Step 26
	Step 26																	26,962	27,771	28,604	29,462	30,346	31,256	32,194	33,160	34,155	35,179	36,235				Step 26
	Step 26																						11,374	11,715	12,067	12,429	12,801	13,185				Step 26
	Step 27								25,145	25,899	26,676	27,476	28,301	29,150	30,024	30,925	31,853	32,808	33,793	34,806	35,851	36,926	38,034	39,175	40,350	41,561	42,807	44,092	45,414			Step 27
	Step 27																		27,057	27,869	28,705	29,566	30,453	31,367	32,308	33,277	34,276	35,304	36,363			Step 27
	Step 27																							9,376	9,658	9,948	10,246	10,553	10,870			Step 27
	Step 28									25,412	26,175	26,960	27,769	28,602	29,460	30,344	31,254	32,192	33,158	34,152	35,177	36,232	37,319	38,439	39,592	40,780	42,003	43,263	44,561	45,898		Step 28
	Step 28																			27,125	27,939	28,777	29,640	30,529	31,445	32,389	33,360	34,361	35,392	36,454		Step 28
	Step 28																								7,218	7,434	7,657	7,887	8,124	8,367		Step 28
	Step 29										25,667	26,437	27,230	28,047	28,888	29,755	30,648	31,567	32,514	33,490	34,494	35,529	36,595	37,693	38,824	39,988	41,188	42,424	43,696	45,007	46,358	Step 29
	Step 29																				27,162	27,977	28,816	29,681	30,571	31,488	32,433	33,406	34,408	35,440	36,504	Step 29
	Step 29																									4,888	5,035	5,186	5,341	5,502	5,667	Step 29
	Year	-1	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24	25	26	27	28	29	Year
Port b4 Interest Payment		1,000,000	1,002,190	1,003,239	1,003,060	1,001,563	998,650	994,219	988,163	980,369	970,716	959,079	945,324	929,311	910,893	889,913	866,207	839,604	809,920	776,965	740,538	700,425	656,405	608,242	555,690	498,490	436,368	350,805	264,170	176,668	88,528	Portfolio Before Interest Payment
Annual Interest		13,000	13,028	13,042	13,040	13,020	12,982	12,925	12,846	12,745	12,619	12,468	12,289	12,081	11,842	11,569	11,261	10,915	10,529	10,101	9,627	9,106	8,533	7,907	7,224	6,480	5,673	4,560	3,434	2,297	1,151	Annual Interest
Matured Proceeds		50,000	51,500	53,045	54,636	56,275	57,964	59,703	61,494	63,339	65,239	67,196	69,212	71,288	73,427	75,629	77,898	80,235	82,642	85,122	87,675	76,358	77,252	78,113	78,937	79,720	95,781	94,330	92,647	90,719	88,528	Matured Proceeds
Cash Now Available		63,000	64,528	66,087	67,676	69,296	70,946	72,627	74,340	76,083	77,858	79,664	81,501	83,369	85,268	87,198	89,159	91,150	93,171	95,222	97,302	85,463	85,786	86,021	86,161	86,200	101,454	117,124	127,867	133,202	132,614	Cash Now Available
Withdrawal		40,000	41,200	42,436	43,709	45,020	46,371	47,762	49,195	50,671	52,191	53,757	55,369	57,030	58,741	60,504	62,319	64,188	66,114	68,097	70,140	72,244	74,412	76,644	78,943	81,312	83,751	86,264	88,852	91,517	94,263	Withdrawal
Remainder to Buy TIPS		23,000	23,328	23,651	23,967	24,275	24,575	24,865	25,145	25,412	25,667	25,907	26,132	26,339	26,527	26,695	26,840	26,962	27,057	27,125	27,162	13,219	11,374	9,376	7,218	4,888						Remainder to Buy TIPS
Left in Cash after Step 25																											17,703	18,234				Left in Cash after Step 25
Left in Cash after Step 26																												30,860	31,786			Left in Cash after Step 26
Left in Cash after Step 27																													39,016	40,186		Left in Cash after Step 27
Left in Cash after Step 28																														41,684	42,935	Left in Cash after Step 28
Left in Cash after Step 29																															38,351	Left in Cash after Step 29