(Disclosure: Some of the links below may be affiliate links)
If you need to compute something complicated, I have developed several calculators that you can use to simplify your life!
Do you want to know how much money you need to retire? And do you want to know how long it will take you to accumulate that money?
Then, my Retirement Calculator is what you need! It will give you all the answers you need!
Once you enter all the information about your current situation, click Calculate, and you will know how much you need to retire. And you will also know how much time it will take you to get there. As a bonus, I am also showing your chances of success in retirement based on historical data.
Do not hesitate to try to play with your savings to see the impact it could have on your future! And increasing your income can also go a long way!
Do you want to know your chances of having a successful retirement? By successful, I mean not running out of money!
Then, this FIRE calculator will tell you exactly your chances of success. The results are based on more than 150 years of historical data.
Once you enter the parameters of your retirement, this calculator will tell you precisely what would have been your chances of success in the past. Moreover, it will also tell you how much money you would have ended up with on average after your retirement years.
Do not hesitate to try to change different portfolios to see how much difference it makes on your chances of success. But the best way to increase your chances of success is to reduce your withdrawal rate. Many people are aiming for a withdrawal of about 3.5% to improve their safety!
Why use calculators?
Calculators such as these two will bring you a wealth of information about your situation. But most importantly, calculators allow you to simulate small changes:
- How much faster can I retire by saving 5% more?
- How much riskier is it to increase my withdrawal rate by 0.1%?
- What if I want to be able to retire for 60 years?
You can answer these questions at the press of a button by using calculators. These will save you a lot of time, and you will make you much more aware of your money!