...formula where one could easily change the inputs (amount saved/month, expected return, etc.) and receive a breakdown of raw dollar amounts that are roughly associated with time to FI so I could put my numbers in and see that I will be 1/4, 1/2, 3/4 to FI in time at $x saved?CCCA posted a good tool.
Quick calculation of "Time to FI" | |||
Planned Withdrawal Rate | WR | 4.0% | |
Annual Savings Invested | S | 40,000 | $/yr |
Annual Expenses in Retirement | E | 30,000 | $/yr |
Current Assets Invested | A | 0 | $ |
Investment return | r_ | 5.0% | |
Time to FI | t | 13.6 | yr |
Desired time to FI | t | 9.0 | yr |
Annual Savings Needed | S | 68,018 | $/yr |