Retirement Intelligence for Software Engineers
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Start of the year, how much you haveDuring the year, how much you saveHow much you earned in interestHow much you have total at the end of the yearInputs:During the year, how much you saveInterest rate on savings
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Year0$0$78,000$0$78,000$78,0002.50%
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Year1$78,000$78,000$1,950$157,950
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Year2$157,950$78,000$3,949$239,899
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Year3$239,899$78,000$5,997$323,896
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Year4$323,896$78,000$8,097$409,994It takes 8 years to save $750,000 if you invest your money in a 2.5% Certificate of Deposit, and you are priviledged enough to be a software engineer meeting these criteria: https://smartasset.com/taxes/income-taxes#hs7vTyrHfG
$140,000 average new grad salary SF
taxes 32k
18k into 401k
30k living expenses
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Year5$409,994$78,000$10,250$498,243
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Year6$498,243$78,000$12,456$588,700
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Year7$588,700$78,000$14,717$681,417
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Year8$681,417$78,000$17,035$776,452
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Year9$776,452$78,000$19,411$873,864
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Year10$873,864$78,000$21,847$973,710
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Year11$973,710$78,000$24,343$1,076,053
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Year12$1,076,053$78,000$26,901$1,180,954
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Year13$1,180,954$78,000$29,524$1,288,478
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Year14$1,288,478$78,000$32,212$1,398,690
This spreadsheet is a supplement to the article found here http://attemptedliving.com/2018/11/19/retirement-intelligence-101-part-3-how-to-achieve-fire-financial-independence-and-retire-early/
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Year15$1,398,690$78,000$34,967$1,511,658
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Year16$1,511,658$78,000$37,791$1,627,449
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Year17$1,627,449$78,000$40,686$1,746,135
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Year18$1,746,135$78,000$43,653$1,867,789
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Year19$1,867,789$78,000$46,695$1,992,483
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Year20$1,992,483$78,000$49,812$2,120,295
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Year21$2,120,295$78,000$53,007$2,251,303
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Year22$2,251,303$78,000$56,283$2,385,585
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Year23$2,385,585$78,000$59,640$2,523,225
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Year24$2,523,225$78,000$63,081$2,664,306
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Year25$2,664,306$78,000$66,608$2,808,913
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Year26$2,808,913$78,000$70,223$2,957,136
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Year27$2,957,136$78,000$73,928$3,109,064
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Year28$3,109,064$78,000$77,727$3,264,791
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Year29$3,264,791$78,000$81,620$3,424,411
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Year30$3,424,411$78,000$85,610$3,588,021
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Year31$3,588,021$78,000$89,701$3,755,722
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Year32$3,755,722$78,000$93,893$3,927,615
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Year33$3,927,615$78,000$98,190$4,103,805
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Year34$4,103,805$78,000$102,595$4,284,400
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Year35$4,284,400$78,000$107,110$4,469,510
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Year36$4,469,510$78,000$111,738$4,659,248
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Year37$4,659,248$78,000$116,481$4,853,729
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Year38$4,853,729$78,000$121,343$5,053,072
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Year39$5,053,072$78,000$126,327$5,257,399
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Year40$5,257,399$78,000$131,435$5,466,834
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