Australian FIRE

www.aussiefirebug.c

NOTE:
You cannot edit this master v

1. Use your own Google Doc

2. To use in excel go to File>

my website however. This fil
Instructions:

This financial independence, retire early (FIRE) calculator is desinged for people
living in Australia. Follow the tabs below in order and fill in the required data where
necessary. The race towards financial independence in Australia is different from
other countries. Because of the preservation age of Super, you need to plan for two
phases. The first phase is how much money you need until you reach the
preservation age. The second is how much Super you need to live for the rest of your
life.
Means this field is automatically calc
Important fields
Fields that need to be filled in

D.O.B 22-Apr-1982
Current net worth excluding Super and any equity in your home $5,000
How much do you currently have in Super? $16,300
Super Guarantee from Employer 9.5%
Growth rate of investments that make up your net worth % 8.0%
Estimated inflation rate % 3.00%
Household income earned pre tax per year. $150,000
Household income earned post tax per year. $109,000

How much post tax money can you save each year? $60,000
.

How long in years will it take you to reach FIRE? 11.27

What year will it be when I reach FIRE? 2034

Race to FIRE
$1,200,000

$1,000,000

$800,000
 $1,200,000

$1,000,000

$800,000
Net Worth

$600,000

$400,000

$200,000

$0
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 204

Year
tralian FIRE Calculator V 1.2
aussiefirebug.com

nnot edit this master version. If you want to have edit rights you have two choices:

our own Google Docs account. Go to File>Make a copy.

e in excel go to File> Download as > Microsoft Excel. I do email you a specific excel file when you sign up
site however. This file is made to be used with excel. If you do download this Google docs one, it will not

s field is automatically calculated

t need to be filled in
Super Preservation age Date of birth
55 1-Jul-1960
56 1-Jul-1961
57 1-Jul-1962
58 1-Jul-1963
59 1-Jul-1964
60 After 30 June 1964

This is the most important factor in the race towards financial freedom. Have a play with this number and

Straight to the point. Here is your FIRE number in years!

 Pre Super
Super

6 2037 2038 2039 2040 2041 2042 2043

s you have two choices:

email you a specific excel file when you sign up through

u do download this Google docs one, it will not format properly).

towards financial freedom. Have a play with this number and see how drastically it changes how many years you have left to work

ber in years!
years you have left to work
Instructions:
Step 1 to FIRE is having enough money to live off until
your preservation age. This tab will work out how much
you need outside Super and how many years it will take
you.

Your age 41
Your Super preservation age 60
Years until you reach your preservation age 19
Year you reached your preservation age 2042
Yearly Savings rate post tax % 55.05%
Inflation adjusted growth rate 5.00%
How much you spend a year at current lifestyle $49,000
How much you spend a month at current lifestyle $4,083

Networth needed in order to sustain current lifestyle until

preservation age after you hit your Pre Super Number $460,285
Networth needed in order to sustain current lifestyle until
preservation age right now $592,181

How much more you need to save $455,285

How long in years will it take you to get to your number

factoring in your current net worth, inlfation rate and rate
of return 6.57
Preservation age minus how long it will take you to
reach your Pre Super Number in years 12
What year it will be when you finish step 1 2030
Amortization schedule for reaching your pre Super number

Year Period Regular Deposit Interest Made How much saved altogether
2023 0
2024 1 $60,000 $250 $60,250
2025 2 $60,000 $3,263 $63,262
2026 3 $60,000 $6,426 $66,426
2027 4 $60,000 $9,747 $69,747
2028 5 $60,000 $13,234 $73,234
2029 6 $60,000 $16,896 $76,896
2030 7 $60,000 Err:502 Err:502
per number Amortization schedule showing your Num

Balance Year Principle

$5,000 2030 $460,285
$65,250 2031 $434,299
$128,512 2032 $407,014
$194,938 2033 $378,365
$264,685 2034 $348,283
$337,919 2035 $316,697
$414,815 2036 $283,532
Err:502 2037 $248,709
2038 $212,144
2039 $173,752

2040 $133,439

2041 $91,111

2042 $46,667

2043 $0
edule showing your Number reaching $0

Interest Earned
$23,014
$21,715
$20,351
$18,918
$17,414
$15,835
$14,177
$12,435
$10,607
$8,688

$6,672

$4,556

$2,333

$0
Year Pre Super Super This column is used for graph in tab 1

2023 $5,000 $16,300

2024 $65,250 $31,365
2025 $128,512 $47,183
2026 $194,938 $63,792
2027 $264,685 $81,232
2028 $337,919 $99,544
2029 $414,815 $118,771
2030 Err:502 $245,647
2031 Err:502 $366,930
2032 Err:502 $494,276
2033 Err:502 $627,990

2034 Err:502 Err:502

2035 Err:502 Err:502

2036 Err:502 Err:502

2037 Err:502 Err:502

2038 Err:502 Err:502

2039 Err:502 Err:502
2040 Err:502 Err:502
2041 Err:502 Err:502
2042 Err:502 Err:502
2043 Err:502 Err:502
This Table is used for working out your Pre Super Number

Number of Periods for the sweet spot

$572,789.76 $5,000.00 $567,789.76

$552,429.25 $65,250.00 $487,179.25
$531,050.71 $128,512.50 $402,538.21
$508,603.24 $194,938.13 $313,665.12
$485,033.41 $264,685.03 $220,348.37
$460,285.08 $337,919.28 $122,365.79
$434,299.33 $414,815.25 $19,484.08
$407,014.30 $495,556.01 -$88,541.71
$378,365.01 $580,333.81 -$201,968.80

$348,283.26 $669,350.50 -$321,067.24

$316,697.43 $762,818.03 -$446,120.60

$283,532.30 $860,958.93 -$577,426.63

$248,708.91 $964,006.87 -$715,297.96

$212,144.36 $1,072,207.22 -$860,062.86

$173,751.57 $1,185,817.58 -$1,012,066.00
$133,439.15 $1,305,108.46 -$1,171,669.30
$91,111.11 $1,430,363.88 -$1,339,252.77
$46,666.67 $1,561,882.07 -$1,515,215.41
$0.00 $1,699,976.18 -$1,699,976.18
-$49,000.00 $1,844,974.99 -$1,893,974.99
-$100,450.00 $1,997,223.73 -$2,097,673.73
-$154,472.50 $2,157,084.92 -$2,311,557.42
-$211,196.13 $2,324,939.17 -$2,536,135.29
-$270,755.93 $2,501,186.13 -$2,771,942.06
-$333,293.73 $2,686,245.43 -$3,019,539.16
-$398,958.41 $2,880,557.70 -$3,279,516.12
-$467,906.33 $3,084,585.59 -$3,552,491.92
-$540,301.65 $3,298,814.87 -$3,839,116.52
-$616,316.73 $3,523,755.61 -$4,140,072.35
-$696,132.57 $3,759,943.39 -$4,456,075.96
-$779,939.20 $4,007,940.56 -$4,787,879.76
-$867,936.16 $4,268,337.59 -$5,136,273.75
-$960,332.97 $4,541,754.47 -$5,502,087.44
-$1,057,349.62 $4,828,842.19 -$5,886,191.81
-$1,159,217.10 $5,130,284.30 -$6,289,501.40
-$1,266,177.95 $5,446,798.52 -$6,712,976.47
-$1,378,486.85 $5,779,138.44 -$7,157,625.29
-$1,496,411.19 $6,128,095.37 -$7,624,506.56
-$1,620,231.75 $6,494,500.13 -$8,114,731.89
-$1,750,243.34 $6,879,225.14 -$8,629,468.48
-$1,886,755.51 $7,283,186.40 -$9,169,941.90
-$2,030,093.28 $7,707,345.72 -$9,737,439.00
-$2,180,597.94 $8,152,713.00 -$10,333,310.95
-$2,338,627.84 $8,620,348.65 -$10,958,976.50
-$2,504,559.23 $9,111,366.09 -$11,615,925.32
-$2,678,787.20 $9,626,934.39 -$12,305,721.59
-$2,861,726.56 $10,168,281.11 -$13,030,007.67
-$3,053,812.88 $10,736,695.17 -$13,790,508.05
-$3,255,503.53 $11,333,529.92 -$14,589,033.45
-$3,467,278.70 $11,960,206.42 -$15,427,485.12
-$3,689,642.64 $12,618,216.74 -$16,307,859.38
-$3,923,124.77 $13,309,127.58 -$17,232,252.35
-$4,168,281.01 $14,034,583.96 -$18,202,864.97
-$4,425,695.06 $14,796,313.16 -$19,222,008.22
-$4,695,979.81 $15,596,128.81 -$20,292,108.63
-$4,979,778.80 $16,435,935.25 -$21,415,714.06
-$5,277,767.74 $17,317,732.02 -$22,595,499.76
-$5,590,656.13 $18,243,618.62 -$23,834,274.75
-$5,919,188.94 $19,215,799.55 -$25,134,988.49
-$6,264,148.38 $20,236,589.53 -$26,500,737.91
-$6,626,355.80 $21,308,419.00 -$27,934,774.81
-$7,006,673.59 $22,433,839.95 -$29,440,513.55
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Instructions:
Step 2 to FIRE is having enough money in Super to last
you forever in retirement. This tab will work out what your
Super FI number is to last forever but also takes into
consideration how many years you have to your
preservation age for your Super to grow.

What year it will be when you finish step 1 2030

How much you need in Super at your preservation age to

last you forever $1,225,000

How much Super you will have at the end of reaching your
Pre Super Number $130,140
How much you need to have in Super at the start of FIRE
for it to grow to you FI number $726,054

How much more $ you need to put in before you FIRE $595,914

How long in years will it take you to get to your number

factoring in your current net worth, inlfation rate and rate of
return 4.70
Amortization schedule for reaching your pre Super number

Year Period Regular Deposit Interest Made How much savedBalance

2030 0 $130,140
2031 1 $109,000 $6,507 $115,507 $245,647

2032 2 $109,000 $12,282 $121,282 $366,930

2033 3 $109,000 $18,346 $127,346 $494,276

2034 4 $109,000 $24,714 $133,714 $627,990

2035 5 $109,000 Err:502 Err:502 Err:502

number Your number growing to you Super FI number

Years Principle Interest Balance

2034 $726,054 $36,303 $762,356
2035 $762,356 $38,118 $800,474

2036 $800,474 $40,024 $840,498

2037 $840,498 $42,025 $882,523

2038 $882,523 $44,126 $926,649

2039 $926,649 $46,332 $972,981

2040 $972,981 $48,649 $1,021,630

2041 $1,021,630 $51,082 $1,072,712
2042 $1,072,712 $53,636 $1,126,348
Year Super Number This is used for the graph in Tab 1

2030 $130,140
2031 $245,647
2032 $366,930

2033 $494,276

2034 $627,990

2035 Err:502

2036 Err:502

2037 Err:502
2038 Err:502
2039 Err:502
2040 Err:502
2041 Err:502
2042 Err:502
2043 Err:502
2044 Err:502
Err:502
Err:502
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Err:502
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Err:502
Name Date

Aussie Firebug 02-Dec-16

Aussie Firebug 19-Dec-16

Aussie Firebug 5-Jan-17

Aussie Firebug 13-Jan-17

Aussie Firebug 17-Jan-17
Changes Made

Cell 'Step 1 Pre Super'!B6 calculated the preservation age incorrectly. IChange the '<' to a '>' and it fixed the issue

Introduced Super Garantee from Employer and household income pretax on tab 1. Changed B6 on tab 3 to include the additon
Changed T3 on tab 2 and for the rest of the cells downwards to include the returns Super gets and also the employer contributi

Found the bug. The issue lies in Cell B13.

It reads =PV(B10,B7-nper(B10,'Start Here'!B23,'Start Here'!B18,-B14),-B11,0)

The red text is the issue. The forumla needs a number of periods. The formula to calculate the number of periods needed (cell
which uses cell B13 as reference!
Fixed the bug. A table in tab 2 for working out the Pre Super number is used to work out the sweet spot of periods for the numb
you hit the preservation age
Cleaned up the formatting issues with the Excel version