Calculate the Time to Reach Savings Goals at Various Rates of Return

[PhysicianOnFIRE]

I'd like to share my latest online calculator. Plug in your current assets, monthly additions, and learn how many years it would take to reach savings goals. The defaults are in gray and can be altered. It's a pretty cool tool in my estimation, and allows you to dream big!

A screenshot is attached, and the $10 Million Dream calculator is here.

I put it together to accompany my latest post, and used the NPER function (which WCI has discussed here) to come up with the answers.

Have fun and post your results. When I plug in my current numbers, I wind up with $10M in 10 to 22 years at a CAGR of 2% to 10%. Working half time, it could happen in 12 to 40 years with similar returns. Of course, I don't need $10M, but it's an interesting exercise to see what it would take.

Happy New Year!

-PoF

[DarrVao777]

PhysicianOnFIRE wrote:

I’d like to share my latest online calculator. Plug in your current assets, monthly additions, and learn how many years it would take to reach savings goals. The defaults are in gray and can be altered. It’s a pretty cool tool in my estimation, and allows you to dream big!

A screenshot is attached, and the $10 Million Dream calculator is here.

I put it together to accompany my latest post, and used the NPER function (which WCI has discussed here) to come up with the answers.

Have fun and post your results. When I plug in my current numbers, I wind up with $10M in 10 to 22 years at a CAGR of 2% to 10%. Working half time, it could happen in 12 to 40 years with similar returns. Of course, I don’t need $10M, but it’s an interesting exercise to see what it would take.

Happy New Year!

-PoF

Click to expand...

Very cool!

 

Similar results, I wind up with $10M in 10 - 20 years at a CAGR of 2% to 10%.

I also don't need that number to retire, but it is a nice round number to shoot for

 

[Hatton]

I came up with 8 years if I continue part-time as I am doing.

[Antares]

10M is out of the question. But I come up with 5M in 8.5 years if I continue what I'm doing and earn 5%, at which time I will be 66. That should be fine, and I'm not including likely inheritance of anywhere from 1-3M, and my home equity of 0.75M when I sell and relocate to a lower COL area at that time. Looks good to me!

What I like better is getting to 4M at age 64 with 5% earnings, and adding in the home equity and likely inheritance.

[PhysicianOnFIRE]

Antares wrote:

10M is out of the question. But I come up with 5M in 8.5 years if I continue what I’m doing and earn 5%, at which time I will be 66.

Click to expand...

I wouldn't say $10M is out of the question for you. I plugged in $5M with a -8000 monthly "investment", meaning you're drawing $96,000 a year from the portfolio. With these assumptions, disregarding a potential inheritance, you could hit $10M in 8 to 15 years (from age 66) with 6% to 10% returns. So, age 74 to 81.

I'm not sure how likely that is, or what your anticipated drawdown will be, but never say never.

Happy New Year!

-PoF

[Antares]

Aha! That is certainly a possibility, and my heirs thank you!