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'm most proud of this widget and probably any model I've ever created in my career. It took the best of a week to get it completely accurate and efficient. I hope that it helps you in some way wherever you are on your FIRE journey.
The intention of this widget is to determine the least amount of time required to FIRE based entirely on your annual expense. In short, I am of the opinion that one should utilise super as part of their FIRE strategy due to the many benefits, so the FIRE No. will only take you to the preservation age. I understand that the preservation age can change and it will be reflected in my widget when it does (Ic.f. last updated date).
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.
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 consistent or the same.
***It may not be easy to spot but there are a total of 4 tabs at the bottom of the widget.***
Birth Date - Here you enter the birth date of the younger of the two adults or yourself if you are single.
Investible asset - basically your portfolio that you are using as part of your FIRE strategy. 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 are another strategy that is not too uncommon.
Gross income - your income before tax.
Marginal tax rate - 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.