Creator's FI Calculator


  Current Annual Living Expenses ($)  
  Current Savings Balance ($)  
  Current Take-Home Income ($)  
  Expected Annual Raise (%)  
  Expected Investment Growth Rate (%)    
  Financial Independence Factor
 
  Expected Inflation (%)  

Place your income above and calculate the time it will take to reach financial independence. You can also see how your savings compare to the average American "consumer" savings in the plot below.


How to Use

This calculator lays out a model that I introduced in The Creator's Path To Financial Independence : Part 1.  It shows the power of saving your surplus income as opposed to consuming it.  The purple line shows the amount of money you need to reach Financial Independence.  It slowly goes up as your cost of living goes up with inflation.  The blue line shows your savings account balance over time.  It assumes that you save all income above your living expenses instead of spending it.  Where the purple and blue lines intersect, you reach Financial Independence!  The green line shows the typical American that currently has an average savings of $5,000 and only saves 5% of their income (assumed to have the same income as you).  You can see that, unlike you, the average consumer generally has no chance of reaching Financial Independence or retirement using traditional consumer savings habits.

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