Discover Financial Literacy

About this App

    The goal of this app is to help you better think about how to make the most of your money, by providing tools and examples that inform the most common questions people have about personal finances. It addresses topics like: when and how much should you save for retirement, as well as should you buy a house or rent, how to allocate savings between an emergency fund, vacations, house down-payment, retirement, and other goals.

    It does Not present canned formulas or recommendations, but rather provides tools that allow you to explore and discover using your own numbers. It is designed to educate, and improve your literacy (understanding) of your personal finances.

    At this point the app is under development. This is version 1.0, with lots more to come. In particular, it will soon have a mechanism for you to provide feedback on whether the app is helpful, and what questions you would like to see addressed.
    This app is a "labor of love", not a product intended to make money.

Overview of the Main Pages

How Much Should I Save for Retirement

    This page illustrates how important it is to start saving for retirement early.
    It shows how much you need to save, as a percentage of your income, to meet your retirement spending goal, depending on when you start saving. In particular, it illustrates that if you wait too long, then the proportion of your income that you need to save becomes very high.
    Click Here

When Can I Retire?

    Who does not want to know when they will have enough money to retire?
    This page gives you tools to estimate when you will be able to retire based on your age and savings rate.
    Click Here

The Impact of the Rate of Return on Your Investments

    Paying attention to your investments really pays off.
    On this page you will see that your retirement age can vary by 10 years or more depending on the rate of return on your investments. A half percent improvement may allow you to retire two years earlier. Said differently, it is not enough to put money in your 401K, you have to pay attention to how that money is invested.
    Click Here

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