This is really cool! As someone who’s been doing these calculations in a somewhat haphazard way using a mix of pen and paper, spreadsheets, and Python scripts for years, it’s nice to see someone put in the work to create a polished product that others can use.
Something that I’ve been meaning to incorporate to my estimates and that would be a killer feature for an app like this is a reasonable projection of future earnings, under the assumption that you’ll get promoted / switch career paths at the average rate for someone in your current position. Sprinkle a bit of uncertainty on top, and you can get out a nice probability distribution over “time at FI” and “total money donated”.
This is a thoughtful comment. And what you are requesting is also often missing from many FIRE calculators. Perhaps there is a simple work around to this...like including a formula that says “My salary will increase by X every Y years”. Obviously this is hard to predict, but does offer the user a little more flexibility if they assume their income will go up and want to play around with the numbers. At the same time, we are also assuming the user’s expenses remain the same, which we know is not necessarily true as well. So trying to find that balance between simple and flexible. I will think on this more. Thank you.
This is really cool! As someone who’s been doing these calculations in a somewhat haphazard way using a mix of pen and paper, spreadsheets, and Python scripts for years, it’s nice to see someone put in the work to create a polished product that others can use.
Something that I’ve been meaning to incorporate to my estimates and that would be a killer feature for an app like this is a reasonable projection of future earnings, under the assumption that you’ll get promoted / switch career paths at the average rate for someone in your current position. Sprinkle a bit of uncertainty on top, and you can get out a nice probability distribution over “time at FI” and “total money donated”.
This is a thoughtful comment. And what you are requesting is also often missing from many FIRE calculators. Perhaps there is a simple work around to this...like including a formula that says “My salary will increase by X every Y years”. Obviously this is hard to predict, but does offer the user a little more flexibility if they assume their income will go up and want to play around with the numbers. At the same time, we are also assuming the user’s expenses remain the same, which we know is not necessarily true as well. So trying to find that balance between simple and flexible. I will think on this more. Thank you.
Javier, I think it would be extremely cool if someone made this projections tool based on salary data aggregated from levels.fyi