The freefincal financial freedom app is now available for free download at the Google play store. The app helps answer three questions about financial freedom: (1) What is the corpus required to be financially independent?; (2) How long will a corpus last?; (3) What is the rate of return required to generate income that keeps pace with inflation.
Financial independence refers to the number of years a corpus can provide income that grows each year at some assumed rate (inflation), while the corpus itself is expected to grow at some rate of return (post-tax).
If the corpus is good enough to provide such an indexed income for say 5-10 years, then the individual can consider quitting their job and pursue their dream enterprise in peace. They have 5-10 years to generate an income from that enterprise and then plan for retirement.
If the corpus can provide indexed income for 15+ years then depending on the current age, the individual can stop working. For example, if my corpus is good enough for next 25 years, then I a 40-year old (I am a bit older) can consider retirement. This is a comfortable position, but I can chance it.
The app lets you answer such questions in a few minutes. Do give it a try and review it. This is the second freefincal app. The first is the freefincal retirement planner app Do give that a try too.
Online version of the freefincal financial freedom app (this is will work in desktop and mobile).
Excel version: Four Simple Retirement Planning Tools
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Free Apps for your Android PhoneAll calculators from our book, “You can be Rich Too” are now available on Google Play!
Install Financial Freedom App! (Google Play Store)
Install Freefincal Retirement Planner App! (Google Play Store)
Find out if you have enough to say "FU" to your employer (Google Play Store)