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Achieving your financial goals such as early retirement involves tradeoffs between three investment components:
1) Your financial goal
2) Time to reach the goal
3) Rate of return.
The amount you need to invest to reach your goal will depend on the size of the goal, the time you have to reach the goal and the expected rate of return. For example, the larger the goal, the more you will need to invest. But if you can earn a higher rate of return, you may be able to reach the same goal with less invested each year. If can wait longer to reach the goal, you will need to invest less.
Change the numbers in this calculator to see how you can apply the Formula for Wealth to your own financial goals.
Formula for Wealth Calculator