This is a financial planning tool designed to help you achieve financial independence in the UK. It allows you to create a personal financial roadmap, manage your expenses, and plan for retirement. The tool includes features for setting financial goals, tracking investments, and projecting your financial future.
Features
Financial Roadmap Tool
A tool to create and manage a personalized financial plan to achieve financial independence. It includes budgeting, investment, and saving features tailored to user's financial goals.
Tax-Free Lump Sum (UK)
Calculation feature for estimating tax-free lump sums.
Tax-Free Rental Income
Estimate income from tax-free rental properties.
Specific Child Allowance
Calculate specific allowances for children.
Target Retirement Year Calculation
Helps users identify their target retirement year.
Decumulation versus Defined Benefit Pensions
Analyze decumulation against defined benefit pensions.
Reduction in Hours
Allows users to enter part-time work details and includes the existing part-time calculator.
Retirement Year Import
Imports previous retirement year calculations.
Historical Scenarios
Provides historical scenario comparisons for financial planning.
Custom Scenarios
Lets users create custom financial scenarios.
Spending Curve
Analyzes how spending might change over time in retirement.
Extra Wishes
Accounts for additional spending wishes.
Model Tradeoffs
Simulates trade-offs between different financial choices.
Monte Carlo Sampling
Uses Monte Carlo sampling for risk analysis.
Intray Changes
Tracks pending changes for users.
Algebra
Offers algebraic solutions to financial calculations.
Data Insights
Provides data insights for better decision-making.
Customized Portfolio
Enables users to create customized investment portfolios.
Custom Fund Portfolio
Lets users build custom investment fund portfolios.
Fire Earth Version
Special edition focusing on environmental or eco-friendly investments.
Sustainable Investing
Provides sustainable investment options.
Slider Inputs
Allows users to input base salary, salary sacrificed bonus, current pension pot, employee % contribution, employer % contribution, current age, estimated investment return %, age contribution stops, planned retirement age, and target annual retirement income with adjustable sliders.
Retirement Projection
Calculates projected pension pot at end of contributions, pension pot at retirement, annual and monthly pension income, planned income deficit annually and monthly, and years to both FIRE and full retirement based on inputs.
Earnings
Focuses on increasing personal income through career growth, side hustles, or investments to achieve financial independence.
Savings
Emphasizes the importance of saving a portion of income regularly to build a financial cushion and prepare for the future.
FIRE & Retire Calculator
A tool designed to help users visualize their financial future by calculating how early they can retire based on their savings and earnings.
FIRE & Retire Calculator
A tool designed to help users forecast their financial future by calculating the impact of different investment strategies on their pension. It allows you to input various financial parameters and see potential outcomes.
FIRE Calculator
Tool to explore and model your FIRE (Financial Independence, Retire Early) journey by inputting personal financial data to see potential outcomes.
Maximize Income through Niche and High-Demand Skills
Acquire skills that are in high demand to increase earning potential and boost financial savings.
Invest Excess Income in Low-Fee Investments
Focus on low-fee investment options to grow your savings over time, maximizing returns.
Pay Yourself First
Prioritize saving by setting aside a portion of income for savings before expenses.
Start Early to Leverage Compound Interest
Invest early to take advantage of compounding interest to grow wealth exponentially.
Minimize Unnecessary Expenses
Reduce unnecessary spending to free up more money for saving and investing.
Consider Leveraging Remote Working and Lower Cost of Living Areas
Explore remote work opportunities in regions with lower living costs to increase savings.
Buy the Home You Need, Not More You Want
Opt for a practical home purchase to reduce housing expenses.
Be Cautious with Car Expenses
Choose cost-effective transportation options to reallocate expenses to savings.
Max Out Annual ISA and Pension Contributions
Take advantage of tax-efficient saving vehicles like ISAs and pensions to grow retirement savings.
Utilize Employer Pension Matching
Benefit from employer contributions to boost retirement fund savings.
Make Tax-Efficient Salary Sacrifices
Explore salary sacrifice options to minimize tax liability and maximize savings.
Utilize Tax-Free Stocks and Shares ISA Allowances
Leverage tax-free investment allowances to enhance tax-efficient investment gains.
Treat Your Finances Like a Business Does
Manage finances with a business-like approach to understand profits and manage risks effectively.
Treat All Accounts Holistically
Consider all financial accounts and future needs in a comprehensive retirement strategy.
Build and Maintain an Emergency Fund
Establish an emergency fund to safeguard against unexpected expenses.
Consider Part-Time, Self-Employment, or Contracting
Explore flexible employment options to transition smoothly to retirement.
Real-time updates
Provides real-time updates when tweaking financial drivers.
Salary sacrifice contributions
Includes simulations for salary sacrifice bonus contributions.
Pension contributions adjustment
Allows stopping of defined pension contributions when paid employment stops.
Income surplus/deficit targeting
Enables targeting income surplus or deficit for better financial planning.