A financial calculator that suggests savings rates to reach financial independence
Ambition Level of this project: 4/10
Financial Independence is when a person has enough money saved and invested, that they can retire and never have to work again. If this is done ambitiously, normal people can retire as soon as their 30s.
This app takes a persons annual income, their province, their monthly spending and the amount they have in specific savings accounts.
It then generates a long term plan for saving where you can maintain your current life style. It suggests what savings accounts to put your money in first (TFSA or RRSP) and tells you an approxamate year count of when you can retire. I have already built an MVP
in Python. However their are a few errors in the calculations.
More info on Financial Independence: https://www.reddit.com/r/financialindependence/wiki/faq
-Tax Calculator API:
-Connect to an API, given an income and a province, it calculates the amount you will be taxed
-I will add to this when I review the code I already have
-App:
-Python
-I have mapped out all of the financial knowledge so there is no need to worry about it.
If you have knowledge in this area please let me know!
-API:
-Connect to an API in Python (I have code for this that I will upload)
https://github.com/orgs/UofT-group-sideprojects/projects/1
Project Owner: Daniel Visca
email: daniel.visca@mail.utoronto.ca
phone number: +1 (514) 889-6686
If you would like any clarification, or would like to get together in person to work on this please reach out!