Whole Of Life Finances SpreadSheet
 

The attached .zip file contains the start of a "Whole Of Life Finances" spreadsheet.

Please download (virus check), have a look, try out, criticize, suggest / make modification, ...

The basic idea is to find the minimum income needed to finance a mortgage, if you have one, pay your living expenses and taxes and end up at retirement owning your house and enough investable money for an adequate retirement.

There is plenty to criticize about the model:
1. it assumes that your income will maintain a constant purchasing power from now to retirement,
2. it assumes only one income per family,
3. it assumes that the return on your investments will just maintain the value of your money,
4. ...

I hope that you will play around with it at first as a plausible model to encourage debate.

Re: Whole Of Life Finances SpreadSheet
 

I get a run time error on the UCase statement where you convert the entry against Company. Says project or library not found.

When i comment the line out, it then has a problem with the 'SolverReset' procedure - same message.

Re: Whole Of Life Finances SpreadSheet
 

Do you have "Solver" installed?

Check "Tools", "Add-ins"

Re: Whole Of Life Finances SpreadSheet
 

Probably not. What is it? Part of Excel?

Re: Whole Of Life Finances SpreadSheet
 

Mine says its read only mode when I open it :mad: :(

Re: Whole Of Life Finances SpreadSheet
 

Are you running the spreadsheet from within the zip file?
Try extracting it first before opening it.
Should work from within Winzip but this would simplify things.

Re: Whole Of Life Finances SpreadSheet
 

Because you opened it from the .zip file? Try saving it to disk, closing it and opening from disk.

Re: Whole Of Life Finances SpreadSheet
 

Solver is an Excell Add-In. Check "Tools", "Add-ins" for "Solver". If not there, you will have to load it from your MS-Office CD.

It is really hand for all sorts of numeric optimizations - a very useful knowledge to have.

FRONTLINE SYSTEMS - Solver

Re: Whole Of Life Finances SpreadSheet
 

Got it now - thanx.

Current investable worth include your own house?

Re: Whole Of Life Finances SpreadSheet
 

Thanks for that, added and run ok. Just figuring out the numbers now!

Re: Whole Of Life Finances SpreadSheet
 

I knew there was a reason I didnt become an accountant :eek: :( .

Re: Whole Of Life Finances SpreadSheet
 

Your choice - but I say no because:
1. You must live somewhere,
2. Your house does not pay you an income today,
3. Your house saves you the expense of rent allowing you to save today.

The view I suggest is more looking at the Rest-Of-Your-Financial-Life-From-Today rather than actually the Whole-Of-Your-Life.

Re: Whole Of Life Finances SpreadSheet
 

The model, while simple, throws up some interesting points.

For example, you can minimize tax by paying off your mortgage until the moment of your retirement. This might actually be a little risky because your income might cease before retirement due to becoming unemployed.

Re: Whole Of Life Finances SpreadSheet
 

Chances are that any real income would cease when you retire anyway, so the most obvious plan would involve splitting your mortage over the number of years you have left before retirement anyway?
As I don't have a mortgage I am placing figures in on a best guess if I did join the home owners guild. What is the mortgage principle? Why do you set mortgage years to 1? I'm obviously new to this.

Re: Whole Of Life Finances SpreadSheet
 

Ok I give up, too hard for me, I think we'll just keep Dagboy working for another few years & stick some money under the mattress :) .