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My time to FIRE calculator
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Topic: My time to FIRE calculator (Read 2778 times)
patrickza
Pencil Stache
Posts: 555
Age: 45
My time to FIRE calculator
«
on:
September 07, 2016, 04:58:00 AM »
Don't ask me why, but I find putting calculators together to be a fun challenge. This one was my least challenging of all though. It tries to estimate how long you'll take to reach FIRE (or at least FI) using just three variables: Monthly net income, monthly savings and how much you already have saved.
Assumptions are a 4% draw down rate, and an investment growth rate of inflation + 5%.
Here's an example of someone earning $6000 and saving $1500 with a current stache of $200000:
Link:
http://www.investorchallenge.co.za/com_calc_fire_us.php
Any thoughts?
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SwordGuy
Walrus Stache
Posts: 8956
Location: Fayetteville, NC
Re: My time to FIRE calculator
«
Reply #1 on:
September 07, 2016, 05:37:14 AM »
Too many assumptions. FI spending rate = current spending rate.
Savings rate will remain constant. I might pay off the mortgage in 15 years.
Etc.
But keep plugging at it!
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MDM
Senior Mustachian
Posts: 11477
Re: My time to FIRE calculator
«
Reply #2 on:
September 07, 2016, 09:52:48 AM »
Results appear similar to what's in
Networthify's Early Retirement Calculator
and the
case study spreadsheet
.
Differences may be due to the compounding period for "5%", e.g., annually vs. monthly vs. continuously. Nice work!
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My time to FIRE calculator