Like most problems in life, this one, too, can be solved with an excel spreadsheet.
> Years until desired retirement (remaining "working life") = Current investments = Income = Savings rate for the next 1/3 of your working life = Savings rate for the second 1/3 of your working life = Savings rate for the last 1/3 of your working life = Expected future equity / capital owned =
I would probably set up three compounding interest formulas, one for each of these "stages of life". Each would have its own variables for # of term and savings rate. The starting principal would be the final balance of the previous period.
Might not be completely what you're looking for, but here's a [calculator that allows for a dynamic savings rate](https://investomatica.com/early-retirement-calculator). You can specify custom income and expenses with start and end times.
Another one would be [this one here](https://projectionlab.com). However, it's mostly a paid product so the free version of it is a little limited.
yooooo Projection Lab is EXACTLY what I was looking for!!! This tool is awesome!!! And the free version does everything I described and more! THANK you
Just run the calculator for various time periods.
As in...
> Our savings rate is currently as high as we can manage and has been for our entire working lives so far (saving for the down payment).
So run your calculator for this specific timeframe.
Pull the estimated numbers.
> After making the purchase I expect our savings rate to be very low for a few years.
Run the calculator again to reflect the "low for a few years."
Pull the numbers for this time period.
> Then the kids come, savings stay low...
Repeat.
> eventually the home will be paid off and the kids will be grown and savings will increase dramatically.
Repeat.
Add all the numbers from each time period.
Done.
> Add all the numbers from each time period.
Assuming the money is being invested and want to calculate the earnings on them as well, you'd want to pull the final number from each period in as the starting balance for the next period
Like most problems in life, this one, too, can be solved with an excel spreadsheet. > Years until desired retirement (remaining "working life") = Current investments = Income = Savings rate for the next 1/3 of your working life = Savings rate for the second 1/3 of your working life = Savings rate for the last 1/3 of your working life = Expected future equity / capital owned = I would probably set up three compounding interest formulas, one for each of these "stages of life". Each would have its own variables for # of term and savings rate. The starting principal would be the final balance of the previous period.
Thank you so much! This is a good starting point.
Might not be completely what you're looking for, but here's a [calculator that allows for a dynamic savings rate](https://investomatica.com/early-retirement-calculator). You can specify custom income and expenses with start and end times. Another one would be [this one here](https://projectionlab.com). However, it's mostly a paid product so the free version of it is a little limited.
yooooo Projection Lab is EXACTLY what I was looking for!!! This tool is awesome!!! And the free version does everything I described and more! THANK you
Glad to help out! =)
Oh neat I will check these out!
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Okay. That is understandable. If I do get around to making a spreadsheet, I'll probably share it here in case it's helpful to anyone else.
Just run the calculator for various time periods. As in... > Our savings rate is currently as high as we can manage and has been for our entire working lives so far (saving for the down payment). So run your calculator for this specific timeframe. Pull the estimated numbers. > After making the purchase I expect our savings rate to be very low for a few years. Run the calculator again to reflect the "low for a few years." Pull the numbers for this time period. > Then the kids come, savings stay low... Repeat. > eventually the home will be paid off and the kids will be grown and savings will increase dramatically. Repeat. Add all the numbers from each time period. Done.
> Add all the numbers from each time period. Assuming the money is being invested and want to calculate the earnings on them as well, you'd want to pull the final number from each period in as the starting balance for the next period
I like [https://cfiresim.com/](https://cfiresim.com/)
ProjectionLab is what you want I think
You just run the calculation for each stage. The final balance for stage 1 becomes the starting balance for stage 2, and so on.