Advanced FIRE Number Widget
***On any devices, you can zoom in/out of the widget zone for readability. Also instructions below Widget***
(last updated 19/6/2021)
I made this follow-up widget because not everyone want to save the bare minimum to reach their preservation age. I know I would personally be a little nervous if I was down to my last $20-30k, especially if the preservation age changes. You can use both widgets to help you find a good middle ground.
The intention of this widget is to allow people to determine how long it will take to reach their Net Worth or Passive Income Target and/or their Super Target before they FIRE.
Now to help you get the most out of this widget. You will be able to enter your details (yellow cells) which will show a short summary of what your FIRE No. looks like and how long it will take.
***You need to ensure that you choose either a Net Worth Target or a Passive Income Target, not both.***
It may not be easy to spot but there are a total of 4 tabs at the bottom of the widget. The timeline shows graphically how your numbers look until preservation age. I've included a simple and flexible amortisation tab so you can see the numbers as you progress through the years. The flexible amortisation will allow you to manually enter any investment number (in and out of super) you desire and doesn't have to be the same.
Birth Date - Enter the birth date of the younger of the two or yourself if you are single.
Investible asset - your portfolio that you are using as part of your FIRE stategy. This typically is the standard ETF(s) that you see in the forum such as VAS, A200, VGS, etc and may also include a number of individual stocks and some crypto. Using IPs is another strategy that is not too uncommon.
Gross income - your income before tax.
Marginal tax rate - your tax bracket based on your income.
Average Saving Amount - Average amount invested per year before FIRE.
Expense after hitting pre-super No - Your expense per year after you reach your pre-Super No.
Average savings amount is a dubious input cell as it's hard to predict for those with lower amounts as it takes longer to FIRE. For those people, you might want to use the flexible amortisation tab. This is the estimated amount that you have leftover to invest in that investible asset pool.
If you end up with a negative value at any point it could be because you have set the expense after hitting pre-super too high.