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Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion


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November 29th, 2016, 10:30 AM   #1
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Help for big math dummy!

I am trying to figure this out:

I have a retirement account worth \$264,604.20

My wife and I are divorcing and I need to give her her part. My retirement represents a time span of 23 years. We have been married for 20 years of this.

So what is the percentage that I need to deduct from \$264,604.20

Maybe my question is "3 is what % of 23?" am I asking the right question?

Very perplexed

Thanks, Joe

Last edited by greg1313; November 29th, 2016 at 11:01 AM.
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November 29th, 2016, 11:44 AM   #2
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Quote:
Originally Posted by jmk909er View Post
I am trying to figure this out:

I have a retirement account worth \$264,604.20

My wife and I are divorcing and I need to give her her part. My retirement represents a time span of 23 years. We have been married for 20 years of this.

So what is the percentage that I need to deduct from \$264,604.20

Maybe my question is "3 is what % of 23?" am I asking the right question?

Very perplexed

Thanks, Joe
sorry to hear this.

$\dfrac {3}{23} = 13.04\%$
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November 29th, 2016, 12:00 PM   #3
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It would depend on how much was put into the retirement account during the first three years.
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November 29th, 2016, 12:01 PM   #4
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This is primarily a legal question, not a math question. You need to talk to a lawyer to find out what her rights are and what yours are in whatever state is handling the divorce. The math question I THINK you are asking is what is half of 20/23 of 264,604.20.

So one way to think about this (though it may be nonsense legally) is

$one\ year's\ worth = \dfrac{264,604.20}{23} \approx 11,504.53.$

$3\ years'\ worth \approx 3 * 11,504.53 = 34,513.59.$

$20\ years'\ worth \approx 20 * 11,504.53 =230,090.60.$

That adds up to $34,513.59 + 230,090.60 = 264,604.19.$

We are off by a penny due to fractional pennies.

Half of 230,090.60 is 115,045.30. She gets that.

You get: $115,045.30 + 34,513.59 = 149,558.89.$

Let's check. $115,045.30 + 149,558.89 = 264,604.19.$

Still off by a penny. You could flip for it.
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December 15th, 2016, 04:13 AM   #5
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Make proportion

$\dfrac{3}{23}=\dfrac{x}{100}$

$23x = 300$

$x=\dfrac{300}{23}$

$x=13.04%$
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December 15th, 2016, 07:04 AM   #6
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One could claim that the balance 20 years ago plus any (compound) interest acruing to it belongs entirely to you, with only the balance being split equally between you. This is a slightly more difficult calculation, but beneficial to yourself.

Essentially, the way you split the fund is likely to be more a function of how amicable the split is than anything else, I'd have thought.
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December 18th, 2016, 05:05 AM   #7
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Quote:
Originally Posted by jmk909er View Post
I am trying to figure this out:

I have a retirement account worth \$264,604.20

My wife and I are divorcing and I need to give her her part. My retirement represents a time span of 23 years. We have been married for 20 years of this.

So what is the percentage that I need to deduct from \$264,604.20

Maybe my question is "3 is what % of 23?" am I asking the right question?

Very perplexed

Thanks, Joe
It would help to know how much each accumulated in interest the last 23 years before solving the problem.
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