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The easy answer to your question is the formula witdrawal = (balance - 50k) / life expectancy. If your life expectancy is now 35 years, then decrease that number each year by 1. If your life expectancy changes, then use your current life expectancy for that year.

If this money is an IRA then you must follow the IRA rules for early withdrawals if before age 59 1/2 (or 55 in some cases), unless you are willing to pay 10% penalty.

The formula above is close to the minimum distribution method for IRA's.

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