I made this tool because I wanted to calculate how much I need to save every month for a fixed number of years if I want to retire as early as possible, in US or another country where living costs are much lower. It takes into considerations: comfort level adjustments, Desired Years to Retirement, expected return rate on your savings.
It comes with a table and graph, downloadable/interactive, so that I can keep track of my progress if necessary.
Optional inputs and adjustments: inflation rate, growing savings (lower monthly savings now, higher later - for those who expect income increases), current assets and asset-specific returns, current debt,
Limitations:
- no tax considerations
- assumes single person living costs (but you can adjust for comfort level)
- assumes you live "infinitely" - the reasoning is that with medical/tech advancements, I expect us to live beyond the current life expectancies of ~80 years old. And perhaps this is too optimistic but I don't want to cap it, because who knows.
It comes with a table and graph, downloadable/interactive, so that I can keep track of my progress if necessary.
Optional inputs and adjustments: inflation rate, growing savings (lower monthly savings now, higher later - for those who expect income increases), current assets and asset-specific returns, current debt,
Limitations: - no tax considerations - assumes single person living costs (but you can adjust for comfort level) - assumes you live "infinitely" - the reasoning is that with medical/tech advancements, I expect us to live beyond the current life expectancies of ~80 years old. And perhaps this is too optimistic but I don't want to cap it, because who knows.