Side Fund Income is the income the customer would have had if the income tax savings were deposited faithfully in the Side Fund each year. See Tax Savings into Side Fund, above. This number is calculated from the columns Income From IRA , minus Income Taxes , plus Side Fund Income . This calculation continues year after year and shows the total after-tax income withdrawn to date. IRA Value is the value on December 31st of the tax year.
Interest is compounded daily .
Press the FV key to calculate the result, 110,000. . Press the FV key to calculate the result, 2,141.06 . Add this to 110,000 to get 112,141 which is the IRA Value in the first year. Side Fund Value is the value on December 31st of the tax year. Interest is compounded daily .