All calculators are downloadable Excel spreadsheets that allow you to save and amend your own personal data.With all the spreadsheets, enter your personal data in the purple coloured cells.
years to financial independence calculator
Your own personal countdown clock that will update automatically and tell you how many years/days until you are financially independent according to the 4% rule. To learn more about the 4% rule and financial independence click here.
years to financial independence grid
Your one stop shop to view how long it will take for you potentially be financially independent under different income and spending scenarios. Again, this calculator uses the 4% rule of retirement.
coast fire calculator
Coast FIRE is where you have saved up enough money to only do part time work or take on a lower income as long as you don’t touch your investments. They will grow to your desired retirement amount thanks to compounding. In other words, only needing to earn enough to cover your expenses, but not necessarily add to your savings. Basically slowing down before you get to financial independence. This calculator will give you a Coast FIRE number you can aim for if this is a path your are interested in taking. You can read more about Coast FIRE here.
Coast fire grid
This is an extension of the previous Coast FIRE calculator. The difference being this grid gives you an immediate snapshot of how much money you may need under a whole bunch of assumptions. Different ages. Different retirement amounts wanted. Different investment return and retirement age assumptions. It’s all there so you can see for yourself the difference small changes may make.
With Coast FIRE, you maybe in a position to slow down much sooner than you thought.
The crossover point calculator
The crossover point was introduce by the book “Your money or your life”. The gateway book that lured me to the attractiveness of financial independence. The premise of the book is that money can be used to buy options and time.
Our time on earth being limited and we need to be conscious of where we place all our energy. Money being the key tool in helping us direct our energy to the right places to live our best lives.
One of the key concepts in the book was ‘the crossover point’. It’s the point at which your investment income exceeds your monthly spending. In other words, financial independence. I consider the crossover point a bit excessive for many. I feel it can be OK to drawdown capital in retirement. There’s no point dying with more money than you started retirement with if it means not living your best life. But it’s a useful concept nonetheless.
This calculator includes a line graph that shows you your progress over the years towards the ‘crossover point’. Quite nice looking back over time to see how far you have come.
As always, just enter your data in the purple cells.
There is the option to input you spend and investments every month but I recommend less frequently. You don’t need to check in so often. Besides the line graph will probably be a bit condensed if you enter your data monthly for 15 years. Maybe quarterly or semi annually will do.
If you happen to have an investment property or ongoing income from any source after retirement and need to include that income as part of your total investment income, then just deduct your net income (after all costs) from your expenses. For example, if your monthly spending is $7,000 and your monthly income in retirement is $3,000, then put your monthly spending as $4,000.
Feel free to send me any feedback or improvements for the calculator.
For personalised advice on your retirement planning needs, then get in touch for a no obligations chat to see how we may be able to add value for you.
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