BRISBANE, Australia - April 30, 2020 - (Newswire.com)
A exciting new Fin Tech company, Net Worth Forecast.com has launched a new website to allow would-be early retirees the ability to work out the exact day and age they can be financially independent.
Being financially independent means different things to different people however the simplest definition is when you can live a lifestyle you want without the need to work, as your income is provided from the return on your investments.
Financial Independence is becoming increasingly popular with Generation X and Y as they have little confidence that the government will be able to provide for their retirement in the same way it does for their parents. Whilst it remains a key concern the ability to be in control of your financial independence and predict when you can achieve it, has been out of reach, until now.
This new website will not only give users the tools to calculate when they will be Financially Independent but the motivation to save and invest wisely. As users update their current net worth each month and make decisions good or bad they will see the impact on their financial Independence date. Thus teaching and motivating along the way.
The site www.networthforecast.com allows users to input assets and liabilities and ultimately calculates current net worth. From here users can add the expected rates of return on assets and any additional investments they are making to those assets either on a monthly, quarterly, annual or one-off basis. The same can be done for liabilities by entering the interest rate and repayments on each loan.
The system then uses this information to calculate net worth at any point in the future. A box on the right-hand side of the screen shows net worth in 1, 5, 10, 20 and 30 year time intervals. The main Overview section expands on this and allows the user to calculate their net worth at any age they like by entering the age in question in the box and hitting return.
However, the real power of the website is using the data entered to predict the exact date a user can afford to be Financially Independent. To work this out all a user needs to do is enter their monthly cash outflows and the system will calculate the exact day the return on investments will be able to cover expenses.
The system is free to trial for 1 week and thereafter costs $1.95 per month. The site can be accessed at www.networthforecast.com
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Original Source: Net Worth Forecast Launches Site for Allowing Users to Calculate Net Worth and Financial Independence Date
