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Portfolio Decay

Year
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Beginning Principal
100,000,000
100,700,000
101,404,900
102,114,734
102,829,537
103,549,344
104,274,190
105,004,109
105,739,138
106,479,312
107,224,667
107,975,240
108,731,066
109,492,184
110,258,629
111,030,439
111,807,652
112,590,306
113,378,438
114,172,087
114,971,292
115,776,091
116,586,523
117,402,629
118,224,448
119,052,019
119,885,383
120,724,580
121,569,653
122,420,640
123,277,585
124,140,528
125,009,511
125,884,578
126,765,770
127,653,130
128,546,702
129,446,529
130,352,655
131,265,124
132,183,979
133,109,267
134,041,032

6%
5%
10% Rate of Return 6% Payout
Ending Principal
106,000,000
5,300,000
100,700,000
106,742,000
5,337,100
101,404,900
107,489,194
5,374,460
102,114,734
108,241,618
5,412,081
102,829,537
108,999,310
5,449,965
103,549,344
109,762,305
5,488,115
104,274,190
110,530,641
5,526,532
105,004,109
111,304,355
5,565,218
105,739,138
112,083,486
5,604,174
106,479,312
112,868,070
5,643,404
107,224,667
113,658,147
5,682,907
107,975,240
114,453,754
5,722,688
108,731,066
115,254,930
5,762,747
109,492,184
116,061,715
5,803,086
110,258,629
116,874,147
5,843,707
111,030,439
117,692,266
5,884,613
111,807,652
118,516,112
5,925,806
112,590,306
119,345,724
5,967,286
113,378,438
120,181,144
6,009,057
114,172,087
121,022,412
6,051,121
114,971,292
121,869,569
6,093,478
115,776,091
122,722,656
6,136,133
116,586,523
123,581,715
6,179,086
117,402,629
124,446,787
6,222,339
118,224,448
125,317,914
6,265,896
119,052,019
126,195,140
6,309,757
119,885,383
127,078,506
6,353,925
120,724,580
127,968,055
6,398,403
121,569,653
128,863,832
6,443,192
122,420,640
129,765,879
6,488,294
123,277,585
130,674,240
6,533,712
124,140,528
131,588,959
6,579,448
125,009,511
132,510,082
6,625,504
125,884,578
133,437,653
6,671,883
126,765,770
134,371,716
6,718,586
127,653,130
135,312,318
6,765,616
128,546,702
136,259,504
6,812,975
129,446,529
137,213,321
6,860,666
130,352,655
138,173,814
6,908,691
131,265,124
139,141,031
6,957,052
132,183,979
140,115,018
7,005,751
133,109,267
141,095,823
7,054,791
134,041,032
142,083,494
7,104,175
134,979,319

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50

134,979,319
135,924,175
136,875,644
137,833,773
138,798,610
139,770,200
140,748,591
141,733,832

143,078,079
144,079,625
145,088,182
146,103,800
147,126,526
148,156,412
149,193,507
150,237,861

7,153,904
7,203,981
7,254,409
7,305,190
7,356,326
7,407,821
7,459,675
7,511,893

135,924,175
136,875,644
137,833,773
138,798,610
139,770,200
140,748,591
141,733,832
142,725,968

Year
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Beginning Principal
100,000,000
98,700,000
98,453,250
98,207,117
97,961,599
97,716,695
97,472,403
97,228,722
96,985,651
96,743,186
96,501,328
96,260,075
96,019,425
95,779,376
95,539,928
95,301,078
95,062,825
94,825,168
94,588,105
94,351,635
94,115,756
93,880,467
93,645,766
93,411,651
93,178,122
92,945,177
92,712,814
92,481,032
92,249,829
92,019,205
91,789,157
91,559,684
91,330,784
91,102,457
90,874,701
90,647,515
90,420,896
90,194,844
89,969,356
89,744,433
89,520,072
89,296,272
89,073,031

5%
6%
5% Rate of Return 6% Payout Ending Principal
105,000,000 6,300,000
98,700,000
103,635,000 5,181,750
98,453,250
103,375,913 5,168,796
98,207,117
103,117,473 5,155,874
97,961,599
102,859,679 5,142,984
97,716,695
102,602,530 5,130,126
97,472,403
102,346,024 5,117,301
97,228,722
102,090,158 5,104,508
96,985,651
101,834,933 5,091,747
96,743,186
101,580,346 5,079,017
96,501,328
101,326,395 5,066,320
96,260,075
101,073,079 5,053,654
96,019,425
100,820,396 5,041,020
95,779,376
100,568,345 5,028,417
95,539,928
100,316,924 5,015,846
95,301,078
100,066,132 5,003,307
95,062,825
99,815,967 4,990,798
94,825,168
99,566,427 4,978,321
94,588,105
99,317,511 4,965,876
94,351,635
99,069,217 4,953,461
94,115,756
98,821,544 4,941,077
93,880,467
98,574,490 4,928,725
93,645,766
98,328,054 4,916,403
93,411,651
98,082,234 4,904,112
93,178,122
97,837,028 4,891,851
92,945,177
97,592,436 4,879,622
92,712,814
97,348,454 4,867,423
92,481,032
97,105,083 4,855,254
92,249,829
96,862,321 4,843,116
92,019,205
96,620,165 4,831,008
91,789,157
96,378,614 4,818,931
91,559,684
96,137,668 4,806,883
91,330,784
95,897,324 4,794,866
91,102,457
95,657,580 4,782,879
90,874,701
95,418,436 4,770,922
90,647,515
95,179,890 4,758,995
90,420,896
94,941,941 4,747,097
90,194,844
94,704,586 4,735,229
89,969,356
94,467,824 4,723,391
89,744,433
94,231,655 4,711,583
89,520,072
93,996,076 4,699,804
89,296,272
93,761,085 4,688,054
89,073,031
93,526,683 4,676,334
88,850,349

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50

88,850,349
88,628,223
88,406,652
88,185,635
87,965,171
87,745,258
87,525,895
87,307,081

93,292,866
93,059,634
92,826,985
92,594,917
92,363,430
92,132,521
91,902,190
91,672,435

4,664,643
4,652,982
4,641,349
4,629,746
4,618,171
4,606,626
4,595,110
4,583,622

88,628,223
88,406,652
88,185,635
87,965,171
87,745,258
87,525,895
87,307,081
87,088,813

Year
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Beginning Principal
100,000,000
98,880,000
97,772,544
96,677,492
95,594,704
94,524,043
93,465,374
92,418,561
91,383,474
90,359,979
89,347,947
88,347,250
87,357,761
86,379,354
85,411,905
84,455,292
83,509,392
82,574,087
81,649,257
80,734,786
79,830,556
78,936,454
78,052,366
77,178,179
76,313,784
75,459,069
74,613,928
73,778,252
72,951,935
72,134,874
71,326,963
70,528,101
69,738,186
68,957,119
68,184,799
67,421,129
66,666,012
65,919,353
65,181,056
64,451,028
63,729,177
63,015,410
62,309,638

3%
4%
3% Rate of Return
6% Payout
103,000,000 4,120,000
101,846,400 4,073,856
100,705,720 4,028,229
99,577,816 3,983,113
98,462,545 3,938,502
97,359,764 3,894,391
96,269,335 3,850,773
95,191,118 3,807,645
94,124,978 3,764,999
93,070,778 3,722,831
92,028,385 3,681,135
90,997,667 3,639,907
89,978,494 3,599,140
88,970,734 3,558,829
87,974,262 3,518,970
86,988,950 3,479,558
86,014,674 3,440,587
85,051,310 3,402,052
84,098,735 3,363,949
83,156,829 3,326,273
82,225,473 3,289,019
81,304,548 3,252,182
80,393,937 3,215,757
79,493,525 3,179,741
78,603,197 3,144,128
77,722,841 3,108,914
76,852,345 3,074,094
75,991,599 3,039,664
75,140,493 3,005,620
74,298,920 2,971,957
73,466,772 2,938,671
72,643,944 2,905,758
71,830,332 2,873,213
71,025,832 2,841,033
70,230,343 2,809,214
69,443,763 2,777,751
68,665,993 2,746,640
67,896,934 2,715,877
67,136,488 2,685,460
66,384,559 2,655,382
65,641,052 2,625,642
64,905,872 2,596,235
64,178,927 2,567,157

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61,611,770
60,921,718
60,239,395
59,564,713
58,897,589
58,237,936
57,585,671
56,940,711

63,460,123
62,749,369
62,046,576
61,351,655
60,664,516
59,985,074
59,313,241
58,648,933

2,538,405
2,509,975
2,481,863
2,454,066
2,426,581
2,399,403
2,372,530
2,345,957

Ending Principal
98,880,000
97,772,544
96,677,492
95,594,704
94,524,043
93,465,374
92,418,561
91,383,474
90,359,979
89,347,947
88,347,250
87,357,761
86,379,354
85,411,905
84,455,292
83,509,392
82,574,087
81,649,257
80,734,786
79,830,556
78,936,454
78,052,366
77,178,179
76,313,784
75,459,069
74,613,928
73,778,252
72,951,935
72,134,874
71,326,963
70,528,101
69,738,186
68,957,119
68,184,799
67,421,129
66,666,012
65,919,353
65,181,056
64,451,028
63,729,177
63,015,410
62,309,638
61,611,770

60,921,718
60,239,395
59,564,713
58,897,589
58,237,936
57,585,671
56,940,711
56,302,975