fastest_goal: Fastest goal total amount

In eanway/finance: Personal Finance and Investment Tools

Description

How quickly can you reach the goal total amount, given a starting amount, maximum annual contribution, current age, and goal annual amount.

Usage

fastest_goal(
  principle,
  maximum_contribution,
  age,
  goal_annual_amount,
  constant = 1.01,
  return_rate = 0.05
)

Arguments

principle	The initial total amount
maximum_contribution	The maximum annual contribution possible
age	Your current age
goal_annual_amount	The goal annual amount to withdraw in retirement
constant	Optional constant to reduce short-term returns. Default determined from experimentation.
return_rate	Optional long term rate of return. Default determined from experimentation.

Details

Numerical approximation using Newton's method. https://math.stackexchange.com/questions/925838/constructing-a-while-loop-in-r-for-newtons-method

Value

A number of years until growth and contributions reaches goal growth

eanway/finance documentation built on Feb. 28, 2021, 4:56 p.m.