As with the Orrery in the photo above, tools can be extremely useful in helping us understand and visualize complex relationships and systems. The Orreries were used to explain the solar system and the movements of the planets as they spun around in space while orbiting the sun. Similarly, financial tools have been developed to help us track and plan for our futures so that we make the best decisions possible based on the available data. I have arranged them based on questions that often plague those attempting to plan for early retirement.
Here are the 7 Best Tools for Early Retirement
#1 How should I track my Net Worth and Budget?
- Personal Capital – https://www.personalcapital.com
#2 Should I Invest or Wait When the Market is at an All Time High?
- Data to Help you Decide: https://engaging-data.com/market-all-time-high
- Market Timing Game (Based on Historical Data): https://engaging-data.com/market-timing-game/
#3 When Can I Retire and How Long Do I Need to Save Before I can Retire?
#4 Do I Have Enough Money For Retirement?
- https://engaging-data.com/visualizing-4-rule/ (Scroll to the bottom to see a fantastic Safe Withdrawal Rate Analysis as well)
- https://www.firecalc.com/ This simulator also allows you to investigate:
- The effect of Fees on Retirement
- The effect of Delaying Retirement
- The effect of Stock & Bond Allocations on retirement
#5 Rich, Broke, or Dead? Will My Money Survive Early Retirement?
#6 How Can I Back test My Specific Investment Portfolio based on Ticker Symbols or on Asset Classes?
#7 What is the Efficient Frontier of a Particular Set of Assets? Explore risk vs. return trade-offs based on historical volatility and returns
I recommend reviewing each of these tools in detail and running simulations specific to your financial situation. I hope you find them helpful!
