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❌ Last year, we calculated savings rates in a more rudimentary way: By looking at how much take-home pay wasn’t spent.
✅ This year, the calculation is more sophisticated, as it looks at actual contributions as a percentage of total income, including your paycheck contributions. This makes it more accurate.
We look at:
Your reported take-home pay for the month
Your reported paycheck contributions
Your reported contributions to any Saving & Investing accounts for the month
…and divide your contributions by your total post-tax income (inclusive of what would’ve been take-home pay, had you not contributed it to your employer-sponsored accounts).
We look at:
Your reported take-home pay for the month
Your reported paycheck contributions
Your reported contributions to Saving & Investing accounts with the “Long-Term (Financial Independence)” tag for the month
…and divide your Long-Term contributions by your total post-tax income (inclusive of what would’ve been take-home pay, had you not contributed it to your employer-sponsored accounts).
If you haven’t entered any of these variables (income, contributions to savings and investments, etc.), it won’t have the data it needs to generate your save rates.
Be careful not to cut & pasting cells. This can create #REF errors. (Copy & paste is fine.)
Only change data in the white cells. Colored cells have formulas in them to make the Planner work!
Avoid adding or deleting rows & columns. (Hiding rows and columns is fine.)
While I love diving into investing- and tax law-related data, I am not a financial professional. This is not financial advice, investing advice, or tax advice. The information on this website is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns.
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