Hey Kenneth, you may want to check out this F.I. calculator I built that lets you adjust starting amount, rate of return, and withdrawal rate: https://fourpillarfreedom.com/four-visuals-volume-1-financial-independence-calculator/
]]>A diversified portfolio of stocks has had historical returns of roughly 7% per year. In this grid, I assume that your savings are invested in equities, not just sitting in a savings account earning 1% or less in interest annually. Thanks for the question! 🙂
]]>AHAN, that’s a great point. Now that I’m running the numbers again in Excel I see that you’re correct. I’m not sure why the interest from the prior year was being subtracted. Fortunately the numbers for the interest are small enough that the grid essentially has all the correct numbers in it still. Thanks for pointing that out!
]]>That’s awesome to hear you can confirm the numbers for the chart through your own experience! And I agree with you – discipline is the one trait that can allow anyone to become a millionaire given enough time.
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