Get FIREd

Inspiration

The American dream has long been intertwined with financial independence. There are many Financial Independence Retire Early (FIRE) calculators on the internet but this project set out to be able to demonstrate how individual categories of spending can have significant impacts on career length. It's easy to come to the mindset that an extra few hundred dollars on rent may not matter but Get FIREd helps users understand how their spending affects their future.

Get FIREd hopes to support college students that are graduating and entering the work force as they take a big leap in financial literacy.

What it does

Get FIREd lets the user input their annual income and expenses and calculates how long they must work until they can retire. The website also lets users take more granular control over parameters such as withdraw rate and retirement spending. If a user wants to get even more detailed they can break their spending down into a monthly budget which allows the site to demonstrate how each category affects their FIRE date and allows the user to test how changing the categories would affect their career.

How we built it

The front end is built using React and is hosted on Google App Engine in GCP. The front end takes the users input and makes asynchronous calls to the API which does the heavy lifting. The API is also hosted on App Engine and is written in Python using FastAPI. Most of the financial functionality was implemented using the numpy-financial Python library.

The website was designed to work with minimal user input for quick feedback but also allowed more detailed user input if desired. We opted to not implement user accounts as storing financial information brings many security risks.

Challenges we ran into

React was something David was somewhat familiar with but still took up the biggest section of our time. It is a great library with lots of functionality but it still took time to understand. The back end did not give any surprises thankfully as it was all stateless and relatively straight forward.

Accomplishments that we're proud of

David: How responsive the website is due to its asynchronous calls. Josh: The API worked quickly and smoothly and was deployed to a cloud platform.

What we learned

David: React and Flex boxes Josh: FastAPI and Google App Engine

What's next for Get FIREd

Get FIREd accomplished our main goal that was set out at the beginning of the hackathon. There are a couple more graphs that we would like to have implemented that would give more information to the user. The major path forward would be to setup user accounts and integrate with banks using Plad to pull a user's actual spending. This would require a significant effort towards securing the website and the user data but would greatly reduce the required effort from the user and would removes any guess work.

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