David Johnson
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3 results found
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10 votes
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46 votes
An error occurred while saving the comment David Johnson commented
I wrote a calculator to handle this.
https://s3-us-west-2.amazonaws.com/retiretimecalc.com/index.html
It's not very refined and I didn't want to pay for a domain name but feel free to use it.
Note: The numbers differ slightly from networthify because mine assumes contributions are made monthly and compound continuously (https://www.investopedia.com/terms/c/continuouscompounding.asp#:~:text=Continuous%20compounding%20is%20the%20mathematical,interest%20is%20important%20in%20finance.).
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16 votes
An error occurred while saving the comment David Johnson commented
I had the same problem so I made my own calculator. I'm not trying to steal any views or anything but if it's helpful, I put it online at http://RetireTimeCalc.com
Why doesn't this make sense? If you need $40,000 to cover your expenses then at a 4% withdrawal rate you'd need $1,000,000 invested whereas at a 5% withdrawal rate you'd only need $800,000.