I Want to Retire ASAP App

retire_icon_1024

Available at the App Store and Google Play™

So, what does it take to get to your end game?
Here is the calculator which gives you the answer.

First Section:

You decide—when do you want to retire? 1-40 years
Let’s say—40 years.

And then—
Option #1
You get to name your retirement goal
$100,000
$200,000
$500,000
Or $1,000,000

Let’s say–$1,000,000

The calculator says that you will need to invest:
$16,240 a year if you expect an after-tax return of 2%,
$7,890 a year at a 5% return,
$3,580 a year at an 8% return,
And $2,060 at a 10% return.

Quickly, change your plans—
If you want to retire in 20 years, with $500,000, then plan to invest $20,175 each year at 2%, $14,405 at 5%, $10,120 at 8%, or $7,940 at 10%.

Option #2
You choose your annual income
$25,000
$50,000
$80,000
Or $100,000

You decide on $100,000

Now decide your Rate of Return:
At 2%, the calculator says you must accumulate $5,000,000 and your yearly required investment is $81,200.
At 5%, you must accumulate $2,000,000 and your yearly required investment is $15,780.
At 8%, you must accumulate $1,250,000 and your yearly required investment is $4,475.
At 10%, you must accumulate $1,000,000 and your yearly required investment is $2,060.

In a matter of moments, you can change your mind as to:
1. When you want to retire
2. How much you want to retire with
3. How much you want for an annual income
4. Your Rate of Return %.

And get your new retirement investment requirement.

Second Section:
Want to get a little more precise? Maybe you want to take a little more risk when you are investing and go for an 8% return but you want to get a little more conservative and count on a 5% return when you start withdrawing your retirement income. You get to choose your investment return % and your withdrawal return %.

Choose your retirement date—
1-40 years
Let’s say 35 years
Choose your Yearly Desired Income—
$25,000, $50,000, $80,000, or $100,000
Let’s say $50,000

Now choose your expected annual % return during your investment years—
2%-10%

Perhaps you want to go a little riskier in your investing years—8%.

And then choose your expected annual % return during your withdrawal years—
2%-10%
Maybe this is the time to be a little more conservative—5%.

What does the App Calculator say?
“If you invest $5,380 for 35 years, at 8%, you will accumulate about $1,000,000. Assuming an Annual Retirement Return of 5% (after-tax), you can withdraw $50,000 each year without disturbing your principal.”

Want to change your mind? No problem. Have at it.
Third Section:
What is “Future Value”?
Every dollar has a “future value”. If you want to Retire ASAP, you must take into account the future value of every dollar you spend. You may be choosing between a “stay-cation” or a trip to the South Pacific. The cost difference is $10,000 this year.

However, if you invest that $10,000 instead, in 40 years, you would have:
$22,100 at a 2% return,
$70,400 at 5%,
$217,200 at 8%, or
$452,600 at 10%.

So your real cost might very well be somewhere between $217,000 and $452,000. Food for thought.

Input any discretionary choices into the Future Values calculator and get an idea of how much that unnecessary expense is really going to cost you.

28AppBadge

google badge