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Financial Independence Calculator — How early can you 🍹retire if you move to another place?
Considering retiring early? Moving to another place might make sense.
Cost of living varies wildly around the world and if the return on your investment is bigger than your spending, it means you can retire there.
This tools tells you where you can retire early.
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Replies
Doesn't this assume the same salary in different countries? How this work then? A person netting 5000 USD a month in Europe might be netting 2500 USD a month in India due to salary levels in different countries. Totally breaks assumptions in this calculator, no?
@objective_b
You set your takehome after-tax income yourself. That could be $5,000 in Europe, or $2,500 in India.
That's saved up and compound interest is added every year. When the interest rate on those total savings is enough to live somewhere (based on that place's cost of living), it shows you can retire in that place!
@levelsio Understood. I had completely misinterpreted the tool's goals. I thought this was a where can you work and retire early tool. Not which place can you move to at age after work - for your savings to be enough.
@lancescadden1 They're particularly good cities to live in (with high nomad scores)
This is a great tool! My only request would be to not to send the financial markers over URL parameters. That's a lot of data to expose to any ISP and DNS provider.
I'm really impressed by this, it is extremely thought provoking and it is a neatly executed product so far which I'm sure will Pieter will continue to develop brilliantly. My only feedback was it shined a spotlight for me on the accuracy of the data for "family" supporting nomads. An isolated example being the cost of living in Lake Tahoe, $2,338 p/m for a single nomad, $1,771 p/m for a family?
This is awesome. Great work!
Feature request: Ability to filter down the countries based on Nomadlist factors, like Peace, Healthcare, English Speaking etc.
Hi Pieter, great product (again)! On a related note, are you still planning on open sourcing makebook.io's site?
Is this really a lot of people's goal in the nomad community? To move somewhere remote and retire at 40? Curious, what do people plan to do with their time? I think a lot about this because I'm always surprised by these billionaire founders who continue to work when they could easily retire on a yacht and sip margaritas for the rest of their lives.
@mikefiorillo I don’t think anyone who retires early does that any longer.
Instead, it’s people that may continue to work but with less or no need for income. That means they can focus on creative pursuits or volunteer work instead of the rat race.
Great stuff again. Reading your stuff lately I noticed that your say "though" way too many times. Kinda becomes distracting after a while haha.
@fredrikaurdal
You generally want to use a annual rate in this calculator that reflects the on your diversified investment portfolio reduced for inflation.
That means a 6% expected return with 2% inflation is 4%. That’s also generally mentioned as the Safe Withdrawal Rate, which is a rate highly probably to not lose your principal investment from.
Should I Make This?