When Your Money Starts Making More Money Than You
If you regularly save and/or invest your money, there will be a time in your life when your money starts making a significant amount of money.
I’ve always wanted a simple tool to tell me — approximately — when that would be and how old I will be, depending on this, this and that.
You should know: I kept it really simple — ignoring taxes and inflation and future government benefits — mostly so that you can follow the numbers and they make sense.
It basically tells you how much you have to save before that chunk of money starts paying you enough to live without having to work.
You tell it the following stuff:
- How old are you?
- How much do you already have saved up?
- How much do you actually take home in income every month?
- How much do you spend every month?
- How much do you expect your investments to make for you every year?
- What do you like more: burgers or pizza? (I really need to know.)
I got to use the logarithm in one of my formulas. That was exciting.
I’m really proud of my calculator and I want you to try it so if the embedded calculator in this post doesn’t work please go to https://beauhumphreys.outgrow.co/financial-independence
If you like it and you want your financial independence details emailed to you(and other blog posts and calculators that I make in the future), please enter your first name and email in the calculator and I’ll add you to my list.
Would love any feedback so please check out the calculator and then send me a note here.
Also tell me what you would like to see in a future calculator! I have 2 more as part of my outgrow.co package.