The calculator below will show when you could reach financial independence as a student loan borrower.
Enter info about your assets, expenses, and loans below, and you'll see the projected number of years until your passive income could replace the income from your job. You can also download a more powerful copy of this calculator as a spreadsheet.
Curious about how financial planning can help you achieve your goals? Book a free intro call with the SLP Wealth team to learn more.
What's your household income?
What's your family size?
What's your household student debt?
What's your savings rate?* *Note: this is the percent of your income going to loans, savings, investing, retirement, home equity, and business equity
User's Investment Return Assumption
User's Withdrawal Rate Assumption *Note: Usually 3% to 5%
What year did you start paying back your student loans?
Are you pursuing PSLF?
Do you want to forecast your income automatically at 3% annual growth or enter it manually?
ASSETS
How much do you have in cash?
How much do you have in investing + retirement accounts?
How much do you have in home equity?
How much do you have in business equity, investment property equity, or alternative assets?
EXPENSES
How much do you spend monthly on housing / your mortgage?
How much do you spend monthly on cars / vehicles?
How much is your typical monthly credit card bill?
| Annual Passive Income Needed | |
| Years Until Financial Independence |
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Would you like to see what happens if you change your savings rate?
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| New savings rate assumption | % |
Detailed financial independence calculations
| Year | Income unadjusted for loan payments | Annual Student Loan Payment | Annual amount contributed to Savings, Retirement, Investments, Home + Business Equity | Hypothetical Portfolio | Amount owed on student loans | Hypothetical Net Worth | Potential Income from investments |
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Is SLP Wealth financial planning right for you?
Looking for financial planning custom-tailored for professionals like you? Book a free, no-obligation 15-minute intro call to learn more about profession-specific financial planning from our SEC Registered Investment Advisory firm, SLP Wealth.
SLP Wealth, LLC (“SLP Wealth”) is a registered investment adviser registered with the United States Securities and Exchange Commission with headquarters in Durham, NC.