I was curious how long it takes to reach FI, so I built a web app to find out

[tuomasj]

Hello,

I'm a big believer of scratching your own itch. Solving a problem and learning something new is a combo that sounds good!

I wanted to know how long it would take to have enough assets which would generate income that would be enough to cover my living expenses. I tried to search the web but I did not find anything I liked.

So I built a savings calculator which also estimates how long it takes to reach financial independence, yourdream.io.

I would appreciate all comments and feedback!

[boy_bye]

that is a cool little tool!

only improvement i could see would be to allow people to type numbers in, in addition to using the sliders -- can be hard to zero in on the exact number you want.

something else that would be fun would be to add a graph to the "show more details" page, maybe showing the raw numbers going up (investment contributions), the compounded investments going up, and the projected income going up, all in different pretty colors.

but yeah, great job!

[JohnGalt]

Seems like we already went through the process of vetting one of these a while back. 

http://networthify.com/calculator/earlyretirement

[arebelspy]

This one has some issues (inflation, for example, not having separate investment returns and SWR, having a cap on your initial amount and monthly amount, etc.), but it's a decent start.

As JohnGalt points out, we have a few similar tools.  But another one can't hurt, especially if it's actively developed.

I still haven't found one that is exactly like what I want (thus I use an excel spreadsheet that's more precise than the online ones I've found).

YMMV.

[meadow lark]

And networthify is still a nightmare to navigate.  I can get to the calculator from your link, but if I go from www.networthify.com there is no way for me to get to the calculators - the links flash on the screen then disappear before I can click them, etc.  Really neat calculator, really frustrating website. 

[arebelspy]

And networthify is still a nightmare to navigate.  I can get to the calculator from your link, but if I go from www.networthify.com there is no way for me to get to the calculators - the links flash on the screen then disappear before I can click them, etc.  Really neat calculator, really frustrating website.

Do you see a link under features that says "powerful calculators"?

Have you reported it to the Networthify owner, a forum member here?

[limeandpepper]

Hey tuomasj, I like this, great work!  Just one thing I've noticed so far, the "Est. monthly income" bit confused me somewhat initially, it might be clearer if it was something like "estimated monthly expenses" (I'm assuming that is what it really should be)?  I've also found that there is a limit to the figures that we can slide up to, this is not a problem for me but it may be for those who have heaps more money.

[arebelspy]

Hey tuomasj, I like this, great work!  Just one thing I've noticed so far, the "Est. monthly income" bit confused me somewhat initially, it might be clearer if it was something like "estimated monthly expenses" (I'm assuming that is what it really should be)? 

It is essentially: Desired monthly income (at retirement).

[destron]

Nice simple tool.

In addition to the current comments, I would recommend changing the limits on your sliders. For instance, on your Financial Independence calculator, the Initial Investment only goes up to $150,000.

[tuomasj]

Hey tuomasj, I like this, great work!  Just one thing I've noticed so far, the "Est. monthly income" bit confused me somewhat initially, it might be clearer if it was something like "estimated monthly expenses" (I'm assuming that is what it really should be)? 

It is essentially: Desired monthly income (at retirement).

Thanks arebelspy and lineandpepper! English is not my native language, so I'll just get some things wrong :) Thanks you for helping me out!

http://yourdream.io is now updated according your suggestions.

Oh and thanks for everybody your kind words! I had tried several tools but they weren't exactly what I wanted. I wanted a game-like calculator, where you can adjust a slider and you'll get a instant feedback while daydreaming :)

[tuomasj]

Nice simple tool.

In addition to the current comments, I would recommend changing the limits on your sliders. For instance, on your Financial Independence calculator, the Initial Investment only goes up to $150,000.

Thanks, nice and simple I was after :)

I have now set the upper limit to 250000. I guess I never realized that 150000 might be too low upper limit for an initial investment.

Btw, is 250 000 still too low for the upper limit? :)

[arebelspy]

Btw, is 250 000 still too low for the upper limit? :)

Yes.

Many of us have portfolios higher than that now, and most people calculating will want to know how many years to FI from the spot they're at now.

[destron]

Btw, is 250 000 still too low for the upper limit? :)

Yes.

Many of us have portfolios higher than that now, and most people calculating will want to know how many years to FI from the spot they're at now.

What he said.

I would say make it go up to a $million, but have an option to type in your own amount if you want. Perhaps if you click an amount it turns into a text input box.

[tomatoprincess]

I like the sliding scale and 4 easy categories, gives you a rough idea while playing with possible savings/expenses amount. Great job!

[expatartist]

It's a beautifully-designed little tool. Thanks.

[tuomasj]

Hey,

I've fixed few things and added a bar graph in the results page. I've still got few things on my todo list, i.e. bigger range on sliders.

I'd appreciate some feedback on the results page, does it tell you everything you need? Do you go back to calculator page using "back to calculater" button to make changes on calculations?

Thanks!

And to save you scrolling to top of the page, here is my savings calculator again

yourdream.io

[Joet]

 I started the 'initial investment' all the way to the right [250k top] and it said I was already FI. heh. Can you modifiy it to allow initial investments up to around 2m? and expenses higher than 4k or whatever your cap is?

I love the UI tho, good work. Perhaps re-visit the algo side

[arebelspy]

I started the 'initial investment' all the way to the right [250k top] and it said I was already FI. heh.

Congratulations!

[Wyobraska]

Hello,

I'm a big believer of scratching your own itch. Solving a problem and learning something new is a combo that sounds good!

I wanted to know how long it would take to have enough assets which would generate income that would be enough to cover my living expenses. I tried to search the web but I did not find anything I liked.

So I built a savings calculator which also estimates how long it takes to reach financial independence, yourdream.io.

I would appreciate all comments and feedback!

AWESOME SITE! I was looking for something just like this. According to your tool, I'll reach FI in about 17 years. Now to take MMM's suggestions and cut my spending/increase my savings and cut that timeframe down.

Good work, man. I appreciate you sharing the link.

- Wyobraska

[tomsang]

All the inputs are too low. I would go up to $10 mil for initial, $1mill for additions and $30k for monthly retirement income.

[MrsPete]

I agree that the initial input number is too low.  I'm assuming that you're young (good for you -- use the power of compound interest for good, not for evil) and are thinking in relatively low numbers, but some of us have been at this a while. 

[Zaga]

I'm finding the sliders too narrow.  It's hard to get it to stop on just the right pixel to give me the results I'm looking for.

In general though, I really like it!

[Joet]

this is a really clean UI btw, OP do you mind if I steal it for a project I am working on @ my current megaco?

[EK]

Wow, this is so cool to play with!  Thanks!!

It is nicely designed!  The only suggestion I have is that since it can be hard to pinpoint an exact number with the sliders, maybe you could make the box that displays the numbers allow you to type in an exact number.  (But keeping the sliders too because they are fun to play with!)