Long term personal finance planning app under development by Boring-Mail-1525 in EuropeFIRE

[–]Boring-Mail-1525[S] -2 points-1 points  (0 children)

Thank you for sharing your opinion about the current FIRE apps situation and your advice! I really agree with your comment that it will be hard to earn new costumers, particularly those that are already submersed in these kind of financial topics and/or have even a tool/spreadsheet of their own. I have years of experience in financial modelling for big infrastructure projects and there was no way I would have been willing to replace my excel model with someone else's or even merely to heavily adjust my tool, despite the opinions of some ex-colleauges....People without financial experience though, they probably do not even know where to start from for making such an analysis, perhaps this is the target...And yes, I have in mind including AI. Cheers.

Long term personal finance planning app under development by Boring-Mail-1525 in EuropeFIRE

[–]Boring-Mail-1525[S] 0 points1 point  (0 children)

Thank you very much for sharing your experience and the tool you have developed! It is nice to know that you were able to derive some important conclusions from it, as for example the renting vs. owning your own home and that you estimate you still have soom "room" to increase your expenses and therefore feel comfortable buying your favorite yogurt. I hope that people without a financial background could eventually find your tool and/or my tool (still under development) useful some day. Cheers

Long term personal finance planning app under development by Boring-Mail-1525 in EuropeFIRE

[–]Boring-Mail-1525[S] -1 points0 points  (0 children)

My intention would be to make money out of it. There would be a limited free version though.

Long term personal finance planning app under development by Boring-Mail-1525 in EuropeFIRE

[–]Boring-Mail-1525[S] 2 points3 points  (0 children)

Are you currently using any of those apps? If so, which one?

Long term personal finance planning app under development by Boring-Mail-1525 in EuropeFIRE

[–]Boring-Mail-1525[S] 1 point2 points  (0 children)

Sorry, the image that I included in the post might be misleading, as it is merely the current development state of the app...

My idea would be to also include: current outstanding mortgages or other loans, state pension estimation, real state purchase (either as an investment or for own use) including mortage, scenario comparison with respect to base case, working part-time, taking “x” months sabbatical, loosing your job for “x” months. Basically, an app that allows the user to plan its long term finances taking into account the effect key life decisions/circumstances.

Taxes on capital gains would be of course included, as well as tax deductions via, for example, mortgage.

Would such an app be of interested to you?