Author Topic: 'Pretirement' app instantly converts spending to FI date delta  (Read 12551 times)

moonpalace

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #50 on: May 26, 2017, 08:22:14 AM »
Very cool! Just installed on android and was up and running in about a minute! Looking forward to new features already.

1967mama

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #51 on: May 27, 2017, 01:35:44 AM »
I was psyched to download this tonight ... but it doesn't work in Canada :(

dannymurphy

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #52 on: May 27, 2017, 07:06:31 AM »
I was psyched to download this tonight ... but it doesn't work in Canada :(
1967mama, I just opened it up to Canada!
'Pretirement': a financial independence app that instantly converts spending or savings decisions into days, weeks, or years of your life.
Get it for iOS or Android

Lepetitange3

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #53 on: May 27, 2017, 09:43:27 AM »
iOS app downloaded!  Awesome tool.

Also gave it a good review in the App Store :)

dannymurphy

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #54 on: June 23, 2017, 11:13:41 AM »
I very much enjoy your app.

I was thinking on my way home today, what if the net worth was graphed. So when you said I'm going to spend an extra $20 a month, you would see on a graph what kind of different it would make towards FI.

I made a very crude graph to illustrate.



@cantgrowone: I added this plot into the latest version of the app (just pushed out to the app store). After you do a "whatif", there is a plot button at the bottom that provides this comparison. Thanks for the suggestion!
'Pretirement': a financial independence app that instantly converts spending or savings decisions into days, weeks, or years of your life.
Get it for iOS or Android

SquirrelStache

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #55 on: June 24, 2017, 08:24:12 AM »
Oh yay I can retire at 64 :-|

Better get working on paying off that debt and saving like crazy!

Danny - Love the clean, simple look of the app (and the piggy is super cute too). I found it easy to use, but as people have already said, your average person may not have those numbers on hand. However, the type of people who would enjoy this app are your FI crowd anyway, and we DO have access to those numbers.

Being able to track progress over time would be a worthwhile addition, as progress is usually a good motivator.

dannymurphy

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #56 on: June 26, 2017, 08:28:23 AM »
Oh yay I can retire at 64 :-|

Better get working on paying off that debt and saving like crazy!

Danny - Love the clean, simple look of the app (and the piggy is super cute too). I found it easy to use, but as people have already said, your average person may not have those numbers on hand. However, the type of people who would enjoy this app are your FI crowd anyway, and we DO have access to those numbers.

Being able to track progress over time would be a worthwhile addition, as progress is usually a good motivator.

Thanks @SquirrelStashe for the feedback! The trending functions and that should be ready soon. The two trending graphs I have in mind are:
- Actual asset value and predicted asset value over time
- FI age/date over time
Any others that you'd like to see?
'Pretirement': a financial independence app that instantly converts spending or savings decisions into days, weeks, or years of your life.
Get it for iOS or Android

JAYSLOL

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #57 on: June 27, 2017, 08:10:25 AM »
Good app, I've had some fun playing with the numbers yesterday.  Now let's see if it helps keep my spending in line :)

justaguy

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #58 on: June 27, 2017, 08:59:53 AM »
Very fun app- sent notifications to my friends/coworkers for them to download

cheapass

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #59 on: July 14, 2017, 11:03:29 AM »
I just looked at the app for the first time in a while and noticed some of the cool improvements.

My favorite is how your invested assets grows in real-time. I just earned 20 cents while I was sitting here typing this!!!!!
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zolotiyeruki

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #60 on: July 14, 2017, 02:08:36 PM »
@dannymurphy - you might consider simply opening up the app so that it's available in all countries.  I just discovered a couple weeks ago that Google defaults to US-only when publishing an app.  Apple defaults to be available worldwide.

dannymurphy

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #61 on: July 18, 2017, 06:06:07 AM »
@zolotiyeruki - yes, very soon, just getting the kinks worked out of various currency formats, then I'll open it up everywhere.
'Pretirement': a financial independence app that instantly converts spending or savings decisions into days, weeks, or years of your life.
Get it for iOS or Android

GT

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #62 on: July 18, 2017, 06:52:41 AM »
Linked through from another thread, downloaded Android version and up and running in no time.

Minor suggestion, as it's used a lot down here, the Frequency option for Save/Spend could include fortnights, i.e. two weeks.  Most mortgage payments are made on a fortnightly basis.
« Last Edit: July 18, 2017, 10:40:31 PM by GT »

Erma

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #63 on: July 18, 2017, 07:08:40 AM »
@zolotiyeruki - yes, very soon, just getting the kinks worked out of various currency formats, then I'll open it up everywhere.

Awesome. I hope I will be able to try it then.

PizzaSteve

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #64 on: July 18, 2017, 07:26:05 AM »
Downloaded.  Interesting.  Not much there if you are already FI.  Perhaps something to think about (e.g. suggest higher withdraw rates or spending per year amount fir assumptions or tell how much a spend will impact legacy you will leave to heirs.  Right now it just says congratulations.
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life_travel

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #65 on: July 20, 2017, 05:16:08 AM »
Maybe I'm so not tech minded but I dont really understand how it works .
Is working assets  what you have now or what you plan to have to be FIRE?
If I do just minimum contributions it says time to retirement 22 years ... Ok fair enough :)
But when I put " increase by $3600 per month " it changes that I can retire TODAY!!! Hmm that would be nice but I still need to save my $3600 per month for a few years ... confused :(

dannymurphy

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #66 on: July 20, 2017, 08:35:10 AM »
Maybe I'm so not tech minded but I dont really understand how it works .
Is working assets  what you have now or what you plan to have to be FIRE?
If I do just minimum contributions it says time to retirement 22 years ... Ok fair enough :)
But when I put " increase by $3600 per month " it changes that I can retire TODAY!!! Hmm that would be nice but I still need to save my $3600 per month for a few years ... confused :(
There is an option under preferences to choose whether you want your annual spending to be adjusted based on the "what if" scenario.
For example: if I save $5/day on my coffee, my annual expenses go down by 365x5=1825, so not only am I getting more gains on the money I'm saving but my target is lower.
For your example, if enabled (as it is by default), the assumption is that you are saving another $3600/month by spending less. So your annual expenses go down by $43k which apparently in your case means you meet the FI criteria.
If you are wanting to run a scenario where you are actually getting another $3600/month to save (maybe a promotion or something), disable that feature in your preferences. Does that make sense?
'Pretirement': a financial independence app that instantly converts spending or savings decisions into days, weeks, or years of your life.
Get it for iOS or Android

dannymurphy

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #67 on: July 20, 2017, 09:07:15 AM »
Downloaded.  Interesting.  Not much there if you are already FI.  Perhaps something to think about (e.g. suggest higher withdraw rates or spending per year amount fir assumptions or tell how much a spend will impact legacy you will leave to heirs.  Right now it just says congratulations.
Thanks for the feedback Steve. Yes, the target audience is really those who are working to become FI rather than those already there. However, the latest update (currently going through the app store), does a better job of letting FIRE users test whether spending breaks their FI. I'll think about other features to better serve the already-FIRE folks.
'Pretirement': a financial independence app that instantly converts spending or savings decisions into days, weeks, or years of your life.
Get it for iOS or Android

cheapass

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #68 on: July 20, 2017, 09:16:00 AM »
Downloaded.  Interesting.  Not much there if you are already FI.  Perhaps something to think about (e.g. suggest higher withdraw rates or spending per year amount fir assumptions or tell how much a spend will impact legacy you will leave to heirs.  Right now it just says congratulations.
Thanks for the feedback Steve. Yes, the target audience is really those who are working to become FI rather than those already there. However, the latest update (currently going through the app store), does a better job of letting FIRE users test whether spending breaks their FI. I'll think about other features to better serve the already-FIRE folks.

Maybe a dynamic calculation of safe withdrawal rate would be useful? If you wanted to get fancy you could use some of the same logic as firesim or firecalc (i forget which one it is) and calculate the probability of portfolio survival.
Every single decision you make with money either shortens or lengthens your working career.

life_travel

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #69 on: July 21, 2017, 05:00:10 AM »
Maybe I'm so not tech minded but I dont really understand how it works .
Is working assets  what you have now or what you plan to have to be FIRE?
If I do just minimum contributions it says time to retirement 22 years ... Ok fair enough :)
But when I put " increase by $3600 per month " it changes that I can retire TODAY!!! Hmm that would be nice but I still need to save my $3600 per month for a few years ... confused :(
There is an option under preferences to choose whether you want your annual spending to be adjusted based on the "what if" scenario.
For example: if I save $5/day on my coffee, my annual expenses go down by 365x5=1825, so not only am I getting more gains on the money I'm saving but my target is lower.
For your example, if enabled (as it is by default), the assumption is that you are saving another $3600/month by spending less. So your annual expenses go down by $43k which apparently in your case means you meet the FI criteria.
If you are wanting to run a scenario where you are actually getting another $3600/month to save (maybe a promotion or something), disable that feature in your preferences. Does that make sense?
Thanks for pointing it out. I knew it was definitely user error :) I've disabled one "what if" and now the projections look right ... off I go to play :)

dannymurphy

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #70 on: July 31, 2017, 02:46:19 PM »
The app is now available worldwide with support for any currency. Thanks all, and keep the feedback coming.
'Pretirement': a financial independence app that instantly converts spending or savings decisions into days, weeks, or years of your life.
Get it for iOS or Android

sturmgewehr762

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #71 on: August 01, 2017, 01:42:05 PM »
I started using this app a while back and I refer to it several times a week, it's fun to see the money grow.  Back in reply #30 a "baseline" feature was mentioned.  Do you still have plans for this?  I really liked that suggestion.  Btw, I'm on the paid version and appreciate the work you've put into this.

dannymurphy

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #72 on: August 03, 2017, 03:22:48 PM »
I started using this app a while back and I refer to it several times a week, it's fun to see the money grow.  Back in reply #30 a "baseline" feature was mentioned.  Do you still have plans for this?  I really liked that suggestion.  Btw, I'm on the paid version and appreciate the work you've put into this.
@sturmgewehr762: thank you for supporting the project! Yes, that is still coming. Got sidetracked with updates to show results/plots in terms of your age instead of just dates (that update should make it through the app store this weekend). Shoot me a PM if you'd like to be on the beta tester list to see updates early, I'll definitely be looking for beta feedback on the new trending features as they roll out.
'Pretirement': a financial independence app that instantly converts spending or savings decisions into days, weeks, or years of your life.
Get it for iOS or Android

kenaces

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #73 on: August 03, 2017, 03:44:53 PM »
12 years 2 months 10 days 06:53:15 and counting

dannymurphy

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #74 on: August 26, 2017, 02:04:36 PM »
The latest version on the app stores now has a beta "Trends" page that tracks movement in your FI date as you regularly update asset totals. Check it out and let me know what you think!
'Pretirement': a financial independence app that instantly converts spending or savings decisions into days, weeks, or years of your life.
Get it for iOS or Android

Optimiser

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #75 on: August 26, 2017, 07:00:37 PM »
Love the new feature!

Lan Mandragoran

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #76 on: September 03, 2017, 12:02:21 AM »
Great app :-)!
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adraywin

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #77 on: September 03, 2017, 09:54:24 PM »
I can't find the Hong Kong Dollar (HKD) currency. I hope you could add it to the available currency list. Thanks !

HappierAtHome

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #78 on: September 07, 2017, 09:28:05 PM »
Just got the app. Love it!

Problem: I want to pay $6 for the premium version, because it is awesome and worth much more than $6 to me. BUT according to the app $6 will delay FIRE by 35 minutes...

BC_Goldman

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #79 on: September 19, 2017, 08:42:54 AM »
There is an option under preferences to choose whether you want your annual spending to be adjusted based on the "what if" scenario.
For example: if I save $5/day on my coffee, my annual expenses go down by 365x5=1825, so not only am I getting more gains on the money I'm saving but my target is lower.
For your example, if enabled (as it is by default), the assumption is that you are saving another $3600/month by spending less. So your annual expenses go down by $43k which apparently in your case means you meet the FI criteria.
If you are wanting to run a scenario where you are actually getting another $3600/month to save (maybe a promotion or something), disable that feature in your preferences. Does that make sense?
ah, good. That's the part I was missing. I look3d to see what would happen if I saved an additional 10k/yr and I suddenly only needed about 400k which didn't sound right.

I have been enjoying this app and my FI date has shortened by 75 days so far. One thing I would like to be able to see is what the final numbers are projected to be at FI and the what-if point. I did just find the setting to change the chart to age vs calendar year.

Lan Mandragoran

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #80 on: September 19, 2017, 09:07:41 AM »
A simple thing to add that would help things is to add a date label to the x axis in trends :). Currently its just data points that appear like they are an arbitrary distance apart.

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cheapass

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #81 on: October 03, 2017, 10:14:22 AM »
Thought of a possible feature... how about making a countdown widget?
Every single decision you make with money either shortens or lengthens your working career.

Clookie

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #82 on: October 04, 2017, 03:22:37 AM »
Love the app. Just 0.5 $ spent daily on silly things sets me back by 4 months and 22 days.

rainbow_unicorn

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #83 on: October 04, 2017, 11:50:53 AM »
I got the app in IOS and I am loving it so far! Great job and thanks for all the work you put into it!

I got 7.5 years to retirement - which sounds especially amazing because I'm 32. But my question is this - if my assets and contributions are in tax sheltered retirement accounts that I cannot withdraw from (without a penalty) until 59 1/2...

Would it be possible to add the type of assets and its classifications? Thanks!

cheapass

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #84 on: October 04, 2017, 12:28:39 PM »
I got the app in IOS and I am loving it so far! Great job and thanks for all the work you put into it!

I got 7.5 years to retirement - which sounds especially amazing because I'm 32. But my question is this - if my assets and contributions are in tax sheltered retirement accounts that I cannot withdraw from (without a penalty) until 59 1/2...

Would it be possible to add the type of assets and its classifications? Thanks!

You can withdraw from retirement accounts without penalty. Just takes a little planning.
Every single decision you make with money either shortens or lengthens your working career.

rainbow_unicorn

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #85 on: October 05, 2017, 11:28:49 AM »
Thanks! I can see why planning would be very important... a quick google search lead me to: https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-substantially-equal-periodic-payments

cheapass

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #86 on: October 05, 2017, 01:19:37 PM »
Thanks! I can see why planning would be very important... a quick google search lead me to: https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-substantially-equal-periodic-payments

The Roth conversion ladder is a more popular option for early retirees... Mad Fientist has a great article on how to access retirement funds early.
Every single decision you make with money either shortens or lengthens your working career.

FrugalSaver

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #87 on: October 05, 2017, 09:04:56 PM »
The latest version on the app stores now has a beta "Trends" page that tracks movement in your FI date as you regularly update asset totals. Check it out and let me know what you think!

Very cool app.  How many downloads have you had?

rainbow_unicorn

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #88 on: October 08, 2017, 11:27:51 PM »
Thanks! I can see why planning would be very important... a quick google search lead me to: https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-substantially-equal-periodic-payments

The Roth conversion ladder is a more popular option for early retirees... Mad Fientist has a great article on how to access retirement funds early.

I am new to this - and can I just say... mind.blown! Thank you!

urover

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Re: 'Pretirement' app instantly converts spending to FI date delta
« Reply #89 on: October 09, 2017, 09:52:14 PM »
Nice app. Trying to figure out a way to set a custom FIRE amount. Right now, it seems set on 1Mil$
« Last Edit: October 09, 2017, 09:57:07 PM by vsanjay »