How Can cFIREsim Help You Plan Your Retirement?

Why are currently working? Everyone should view their work life as the survival of the fittest. For some people, this is in the form of vigorous and constant competition with themselves or other people. Longevity is a reason many people work, as well. The term “work-to-live,” is a great representation of this. Why not out yourself in a space where you can figure out when you can retire? cFIREsim is an open source program that allows the user to accurately calculate their retirement.

On average, people work about 50 years of their life. But if you are able to cut that number short with retirement you should definitely try to. There are plenty of programs you can use on the market, so what is special about cFIREsim? Absolutely nothing. It is a simple program that allows you to do all the basics.

So, should I just close the window, now?

Although it is a basic program it has one defining quality; it is free. Sure, there are plenty of other programs that you could probably find that so the same thing. However, in the case of this one, it is jam-packed with a lot of features and little gems that you have your disposal. One of the most entertaining, and the most confusing in fact, is the graph.

The graph runs simulation cycles with the information that you log and shows you the best time to retire in the near future. What is interesting about the simulator is how far is goes back. After you plug in your figures you can see how well you were in 1865. Although it is discouraging to see that your financial life would be better in the 19th Century. cFIREsim has everything you need in one place. Even if it is confusing to use.

Troubleshooting and much more trouble shooting.

There is a learning curve when using the program, but you should be able to figure everything out. If you have the patience to find everything in the tutorial, that is. Okay, the tutorial is not the hardest thing to understand, but there are some areas that are lacking. For one, we all know everyone hates finance. We love money, but finance is worse than dry toast.

The tutorial page could have done with a video or two to make it a little more appealing. You are sort of thrown into the mix and have to wade through the stuff you do not need. This is prevalent in many open source programs. Unless you are a tech whiz, or like this writer has the patience to learn, you really will not want to use it more than once. Why do it yourself when you can find someone at your local bank that can do it for you?

Verdict?

We work so that we are able to rest in the future. We work for retirement, it will take some of a lifetime to achieve. Some may work until their hands become stiff with carpal tunnel until their last breath. Being able to calculate when we might be able to go fishing makes everything better. cFIREsim may be the tool you need to start working toward your future.

 

 

Join our newsletter

If you like Critical Financial, subscribe and get our latest content via email.

Powered by ConvertKit

Share this post:

Recent Posts

Leave a Comment

*

May the 4th Be with You: Star Wars Swag on Amazon

May the 4th Be With You: Star Wars Day Swag

It began as the punniest holiday ever but quickly grew into an earnest (if somewhat random) celebration of the long-running (and still... more →
People count the money to buy a house in future success.

Avoiding Mortgage Scams: Don’t Fall for Unreasonable Promises

If it sounds too good to be true, it probably is. That’s sound advice for almost all aspects of life, including the search for... more →
Eat for free for a whole month via the meal kit companies discounts for new customers.

How To Get a Month of Free Food: 9 Meal Kit Companies Offering Discounts to New Customers

Play your cards right and you might be able to line up a month’s worth of free meals if you were to try out all nine of the meal... more →
Generate extra cashflow -- here are 97 ways.

96 Awesome Ways to Generate Extra Cashflow

Who doesn’t want more money nowadays? We’ve got you covered on that front. Here comes a long list of different ideas on... more →
Valentine's Day gifts that won't destroy your budget

Valentine’s Day Crafts Are Romantic Rescue from Crazy Inflation

Fall for the hype this week and you’re out an average of $143.56 for Valentine’s Day. Crafts and other do-it-yourself tactics... more →

Ultimate Guide to Bitcoin — FREE Ebook!

Have we got something for you: a free ebook about bitcoin! more →
Get a flu vaccine.

Why You Need To Get a Flu Vaccine Right Now

Flu vaccines aren’t just for the elderly  anymore. Here are 25 reasons you should go get vaccinated. more →
Financially successful

Acquire the Trait All Financially Successful People Have

Financially successful people tend to all have a lot of self-discipline. Improving your discipline in one area of your life often spills... more →

What’s the Best Free Recipe App?

The Apple Store and Google Play together offer more digital cookbooks than you probably have room for on your mobile device. So which... more →
New tax law might slow down housing market.

What Will the New Tax Law Do to the Housing Market?

The new tax law will have a profound impact on the housing market, although in ways that go beyond the deductibility of mortgage interest... more →

4 in 5 Households Will Get a Tax Cut in 2018

Four out of five U.S. households will get a tax cut as a result of the legislation that President Donald Trump signed into law today. more →
Will bitcoin reach $100,000?

When Will Bitcoin Reach $100,000?

Bitcoin has accelerated its pace of appreciation in recent months, and if the current levels between $15,000 and $19,000 make you itch... more →
The Dow Jones topped 24,000 -- now what?

The Dow Jones Crossed the 24,000 Threshold. Now What?

Stocks appear to be increasing in volatility, yet the markets closed on Monday, December 4 with the Dow Jones Industrial Average is... more →
Peer mortgage

Should You Get a Peer-to-Peer Mortgage?

If you can’t get approved for a home loan from a bank, you might want to look into applying for a peer-to-peer mortgage. more →
Investment gifting is awesome.

4 Things To Know Before You Donate an Investment

While donations of any kind are appreciated, gifting investments benefits both the giver and the receiver. Here are four key things... more →
Are you wondering: What's the Relationship Between the Stock Market and Federal Debt?

What’s the Relationship Between the Stock Market and Federal Debt?

Wouldn’t it be wonderful if gains in the stock market could actually reduce U.S. government indebtedness? If that were true,... more →

The Glittering Appeal of Investing in Gold

Building a Balanced Portfolio Financial analysts frequently advise their clients to diversify their portfolios to minimise risks. This... more →