Hi@jonorlin,randy
The retirement planner should encompass present and future net assets/liabilities i.e., it should include and recognise current and future assets, and current and future liabilities and annual contributions to grow it. The annual contribution will be a regular employer and personal contribution that one has no access to until preservation/retirement age.
The net worth and snapshot sheet recognise total assets less current liabilities. The net worth sheet should be leveraged to build a retirement planner as it summarises all the assets and liabilities.
For example, Family home, all investment properties, shares, cash, credit cards, Home and investments mortgage etc make up my net worth.
In building the FIRE, extensive customization should be allow, such
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Age, single or couple,
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Dedicated custom tax and inflation table.
-Annual contribution, Annual Investment return, Annual Retirement expenses, and custom Withdrawal rate at retirement etc.
-Not sure of the US, in AU, withdrawal rate is based on age.
Uncertainty (If scenario) built in
-Investment return uncertainty
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increase/Decline in value of investment such as real estate etc
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Annual savings amount uncertainty
-Annual savings increases uncertainty
-Annual Withdrawal amount uncertainty
I currently use generic FIRE I got from the internet and insert into Tiller. I input age, yearly contribution and my Tiller net worth (total assets-total liabilities) to project future retirement balance.
Is unlikely you will build FIRE that satisfies everyone. Above is just an idea.
Attached is the sheet… you might learn something from it.
Retirement