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Please do not request edit access. Make a copy by clicking File > Make a copy. (available via https://sites.google.com/view/financialindependencesheet/home)
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Tab
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FIFIRE countryYou can use this to reduce/increase your expenses, according to the COL of any desired country (retiring in Italy, for example)
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Use BudgetTURE will use the budget cells from tab "Out", FALSE will use the totals, depending on the "Expenses Ref. Year" cell
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Inc. X, Y, Z Expenses Use these options to include/exclude different expense types (you may need to play with the formulas, if the options don't align with your needs)
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Local Tax (drawdown)Once retired, how much, on top of your expenses, will you need to pay in tax
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The total of these expenses will determine your FI number, with and without the additional lump sums, mentioned below.
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Lump sum optionsWant to save for a renovation or boat? Enter the lump sum amounts here.
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incl. Remaining mortgage?Dependant on the "Desired Retire Date", this will pull the estimated remaining amount on your mortgage
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Incl. Equity in NW Simply adds/removes the valuse of your property to your net worth (I tend to leave this out, since I intend to reside in this house)
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incl. Rental incomeIf you intend to rent the property, how much will you receive? This will be removed from the required FI amount (eg: 100K expenses - 20K rental income = 80K needed)
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Withdrawal rate Updating this will of course update the FI number
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Return rateHow much do you think your potfolio will increase by each year?
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Use IRRPulled from the last column in "Portfolio", which is calculating the real rate of return - experimental at the moment and may not work with everyones use cases
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Desired dateWhen you might want to retire. This will update the "Yearly Savings Requirement" cell below to see how that compares to the "Current Annual Savings" data below, pulled from the "Year" summary tab
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Montly growth How much the live data from your portfolio has increased/decreased since last months entries.
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Years to FIDependant on return rate, current annual savings, current net worth and FI number, this attempts to determine how many years you have left until you reach that FI number
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Expenses covers Simply graphs what your current withdrawal amount (withdrawal rate * current net worth) would cover against your expenses
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Scenarios Pulled from the "Scenarios" tab
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Other statsJust random other stats I like to conjur up. Nothing vigtal to the rest of the sheet.
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PortfolioThis is where you include details of your investments, which provides live data (not just monthly snapshots)
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Each entry will need to be given a category (ETF, Stocks, Bets, Precious metals, Bonds, Cash - or another category if you want to edit the categories in cells C4 to H4)
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You can enter a ticker in the Ticker column for the Price to be pulled automatically. For some cases, Cash, for example, I simply pull the value from the NW tab. You may want to look at other options
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Shares Enter how many shares
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Cost basis How much of your own money have you put towards this row
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DividendsHow much dividends do you expect this row to pay out each year
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Target allocationUse this to compare your target to the current allocation
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CurrencyIf you have investments in different currencies, you can list them (up to 4 without needing edits) here
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ConversionAdd the conversion from one to your base currency. List your base currency blank or N/A and ensure the rate is 1
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Monthly realized P/LAny month you sell, add the reaslized gains here
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Monthly cost basisAny month you buy more into your investments, add the amount here
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IRRThis is an attempt to track the internal rate of return. I haven't found a good way to automate this, so each month I have to update the formula to include the new month row
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NWEach month, copy the totals from the Portfolio tab to keep a monthly record. Fill in any additional columns you may have added.
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In my case, I record cash in the NW tab, which is pulled into the Portfolio tab
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MilestoneEnter the milestone amount you want to track (eg: how long did it take you to reach each 50K milestone. This is visualized in a graph on the FI tab
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InEach month, enter your income details. This tab may need the most edits, depending on your needs.
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OutEach month, enter your expenses
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Budget rowIn the Budget row, enter the amount you would plan to budget each month
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MtgFill in the grey cells. The results will show the payments needed for the entirety of the mortgage.
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The current month will be highlighted green
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Any month you pay extra, add it to the "Extra" column
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YearEach year, just copy down the formulas for a new year and enter the start / end date of the year. This is used as a yearly summary.
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ScenariosHere you can play with different scenarios you may want to plan out
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Fill in all the various details up to column L (eg: scenario 1 may be in country x, scenario 2 may be in country y with additional income
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Scroll to the right. For each scenario, you can indicate at which year you expect a varient to change (eg: salary from year 1 to 10, schooling costs from tear 4 to 11)
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Dont forget to set the current year (cell AM5)
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