Author Topic: Best Calculator for determining FIRE?  (Read 4338 times)

Gumption

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Best Calculator for determining FIRE?
« on: May 15, 2017, 01:39:41 PM »
I have been using Personal Capital's. FIRECalc seems pretty robust as well.
Anyone feel strongly about a calculator out there?

Eric

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Re: Best Calculator for determining FIRE?
« Reply #1 on: May 15, 2017, 02:47:01 PM »
Depends on what you want to do, but www.cFIREsim.com seems to be the most flexible.  Created by forum member Bo Knows.  It's pretty robust.

Norsky

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Re: Best Calculator for determining FIRE?
« Reply #2 on: May 15, 2017, 02:54:00 PM »
I have used most of them in the past but currently use Fidelity's. I still run thru others onc or twice a year to get comparisons. We have our funds at Fidelity so it is easy to see updates.

MDM

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Re: Best Calculator for determining FIRE?
« Reply #3 on: May 15, 2017, 05:49:26 PM »
This post: Best and/or Recommended Retirement Calculator - Bogleheads.org seems to have a good perspective.

TomTX

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Re: Best Calculator for determining FIRE?
« Reply #4 on: May 15, 2017, 06:17:57 PM »
Are your invested assets at least 25x your planned spending?

1) Yes
2) No

Bateaux

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Re: Best Calculator for determining FIRE?
« Reply #5 on: May 15, 2017, 06:26:25 PM »
Are your invested assets at least 25x your planned spending?

1) Yes
2) No

Yep!  No spreadsheet required.   In fact, I'll never consider myself FIRED until the day I never use a spreadsheet again. 

aceyou

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Re: Best Calculator for determining FIRE?
« Reply #6 on: May 16, 2017, 04:23:13 AM »
Here is a calculator I created that lets you enter your:

- current age
- current stache size
- current year
- projected % gains on your investments (compounded continuously)
- How much new capital you plan to invest in each particular year from now till FIRE.

Good luck!

aceyou

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Re: Best Calculator for determining FIRE?
« Reply #7 on: May 16, 2017, 04:52:15 AM »
Here is a calculator I created that lets you enter your:

- current age
- current stache size
- current year
- projected % gains on your investments (compounded continuously)
- How much new capital you plan to invest in each particular year from now till FIRE.

Good luck!

I should add that the calculator has one flaw.  When you enter your amount for new capital you plan to invest each year, it frontloads it, and compounds interest on that capital all year long.  In reality, most of us are probably having investments go biweekly or bimonthly from our paychecks to our investments.  My calculator probably over inflates your total stache by a little bit because of this. 

spokey doke

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Re: Best Calculator for determining FIRE?
« Reply #8 on: May 16, 2017, 07:36:50 AM »
Depends on what you want to do, but www.cFIREsim.com seems to be the most flexible.  Created by forum member Bo Knows.  It's pretty robust.

Yes, the flexibility/detail is impressive, along with the user-friendliness (but I would still like to be able to include different life expectancies (retirement length) for me and my spouse).

damnedbee

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Re: Best Calculator for determining FIRE?
« Reply #9 on: May 16, 2017, 09:42:23 AM »
I use a few different ones, but I like this MarketWatch tool because it's the clearest at showing how future income scenarios might impact my plans. My FIRE plan will likely include a semi-retirement/PT phase for a while, and I find a lot of the other calculators aren't as helpful in that regard.

http://www.marketwatch.com/retirement/tools/retirement-planning-calculator

 

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