Patent ID: 8050995

Claim:
One or more computer-readable media storing computer-executable instructions which, when executed by a processor on a computer system, perform a method for executing an automatic withdrawal service, the method using an electronic information processing platform, the method comprising: storing information relating to a current balance in a first customer account; storing information relating to a retirement balance, wherein the retirement balance is a projected balance that will be present in the first customer account upon the customer's retirement; storing information relating to a period of time, the period of time relating to a time span that spans from a predetermined pre-retirement date to a customer's projected retirement date; and activating a series of withdrawals, the series of withdrawals withdrawing funds from the first customer account and depositing the withdrawn funds in a second customer account, wherein the amount of funds withdrawn from the first customer account increases at least once during the duration of the series of withdrawals, wherein the funds withdrawn from the first customer account modify the current balance to periodically converge on the retirement balance during the duration of the series of withdrawals until the current balance is equivalent to the retirement balance, wherein the amount of funds withdrawn by each withdrawal is based at least in part on the stored information relating to the current balance, the retirement balance, and the period of time; and wherein the total amount of funds withdrawn from the first customer account and deposited in the second customer account is equal to Σ(i=1 . . . n)ΔI i wherein i represents the series of withdrawals and ΔI i is the amount of each withdrawal.