SeattleRocks
Recycles dryer sheets
- Joined
- Mar 18, 2019
- Messages
- 72
I searched the internet and couldn't find a spreadsheet that would fit my needs so I spent all day and built my own.
I wanted to build a spreadsheet that would include:
cost of living (linked to my actual budget spreadsheet which was cool)
emergency padding for each year
current post and pre tax investments
a standard rate of return on investment (I used a conservative 3.5%)
inflation rate (I used 3%)
tax rate for each year
Medicare kicks in at 65 (and reduces my cost of living budget)
SSN kicks in at 67 (used actual SSN projected rates)
IRA RMD kicks in at 72 (used the RMD calculator to get actual %)
I can play with the standard rate of return, inflation rate and cost of living by a click of a button. I also didn't purposely include my house or vacation house in the model nor do I have an investment properties. But I guess I could add it if I wanted in the future.
Ran the spreadsheet from my age today at 56 to age 90 just to see all of the data and it was fascinating. I even built it so I could factor in lower cost of living after age 75 because we all slow down a lot and realistically so does the spending.
I am sure a spreadsheet/calculator exists like this somewhere, but like I said it was fascinating to do that exercise and just see every single datapoint and be able to play with it in a realistic fashion. Allows me to now sleep at night that I have the plan nailed and now realize that I am completely fine on my FIRE and if I hit 90 I am still going to die with a lot of money in the bank.
Curious, what did I miss on the spreadsheet? I *think* FIRECALC does something like this already, but like I said before, I wanted to see the actual year by year data and be able to play with all of the factors to see how the model would change if inflation moved up or my cost of living went up etc.
Just thought I would throw this out to the forum for feedback.
And the greatest thing? Being FIRED I actually have the time to burn all day building this
I wanted to build a spreadsheet that would include:
cost of living (linked to my actual budget spreadsheet which was cool)
emergency padding for each year
current post and pre tax investments
a standard rate of return on investment (I used a conservative 3.5%)
inflation rate (I used 3%)
tax rate for each year
Medicare kicks in at 65 (and reduces my cost of living budget)
SSN kicks in at 67 (used actual SSN projected rates)
IRA RMD kicks in at 72 (used the RMD calculator to get actual %)
I can play with the standard rate of return, inflation rate and cost of living by a click of a button. I also didn't purposely include my house or vacation house in the model nor do I have an investment properties. But I guess I could add it if I wanted in the future.
Ran the spreadsheet from my age today at 56 to age 90 just to see all of the data and it was fascinating. I even built it so I could factor in lower cost of living after age 75 because we all slow down a lot and realistically so does the spending.
I am sure a spreadsheet/calculator exists like this somewhere, but like I said it was fascinating to do that exercise and just see every single datapoint and be able to play with it in a realistic fashion. Allows me to now sleep at night that I have the plan nailed and now realize that I am completely fine on my FIRE and if I hit 90 I am still going to die with a lot of money in the bank.
Curious, what did I miss on the spreadsheet? I *think* FIRECALC does something like this already, but like I said before, I wanted to see the actual year by year data and be able to play with all of the factors to see how the model would change if inflation moved up or my cost of living went up etc.
Just thought I would throw this out to the forum for feedback.
And the greatest thing? Being FIRED I actually have the time to burn all day building this