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FI Toolkit

For all people interested in their financial health and well being, FI Toolkit can help with understanding the terminology and financial interrelationships for planning a future where “Earn – Save – Invest” is a priority for financial security

For all people interested in their financial health and well being, FI Toolkit can help with understanding the terminology and financial interrelationships for planning a future where “Earn – Save – Invest” is a priority for financial security

FI Toolkit

by Steve Welch
FI Toolkit
FI Toolkit
FI Toolkit

What is it about?

For all people interested in their financial health and well being, FI Toolkit can help with understanding the terminology and financial interrelationships for planning a future where “Earn – Save – Invest” is a priority for financial security. And, the app provides the visual aids and calculation metrics to know when success is likely achievable. The questions “When will we become Financially Independent?” and “How long will our money last?” being critically important to answer.

FI Toolkit

App Details

Version
1.2.1
Rating
NA
Size
19Mb
Genre
Finance Education
Last updated
November 20, 2020
Release date
May 15, 2019
More info

App Screenshots

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App Store Description

For all people interested in their financial health and well being, FI Toolkit can help with understanding the terminology and financial interrelationships for planning a future where “Earn – Save – Invest” is a priority for financial security. And, the app provides the visual aids and calculation metrics to know when success is likely achievable. The questions “When will we become Financially Independent?” and “How long will our money last?” being critically important to answer.

You start by entering basic financial information, what you earn, what you save, and what you generally spend. With Financial Independence as the goal, the app projects forward in time to calculate and display your estimated future Account Balance (detailed in a chart and supporting Spreadsheet). By refining your inputs to reflect changes in your “Earn – Save – Invest” strategy, you can investigate the impact on a likely future Account Balance profile and estimate when your money will run out. The app provides a means to quickly model different lifestyle directions you may choose to pursue.

A few of the capabilities to help model your projected financial future includes:

• Determine contributions made to retirement accounts based on current and projected IRS rules
• Deposit and maintain an emergency fund in a savings account
• Define other income sources and durations
• Account for Social Security benefits for yourself and spouse
• Estimate Federal taxes based on simplified assumptions and current tax laws
• Estimate State taxes based on current tax laws
• Tally current expenses and project (with inflation) into future years
• Compare expenses to net income for deposit into investment accounts

In Retirement:
• Determine distributions required to cover expenses
• Calculate Rate-of-Withdrawal during retirement years
• Compute Required Minimum Distributions (RMDs)

The app provides login security features (including FaceID) and synchronizes with your other iOS devices.

Disclaimer:
AppAdvice does not own this application and only provides images and links contained in the iTunes Search API, to help our users find the best apps to download. If you are the developer of this app and would like your information removed, please send a request to [email protected] and your information will be removed.