11–20 of 123 posts
I've been recommending this course to my family and friends, https://www.coursera.org/learn/time-value-of-money
Hey - creator of BudgetSheet here ( https://www.budgetsheet.net/ ). These formulas are great! I am currently working on adding more charts, graphs, and formulas to my product. These formulas and handy to know about for a net worth sheet. Thanks for sharing!
Okay, now do one for taxes: given a taxable income, and a table representing the tax brackets, calculate the taxes owed in a single formula.
I think you could probably do this in a single formula with SUMPRODUCT, but right now I just have a table that uses MIN(0, X) and MAX(0, Y) tricks to calculate it.
That being said, and a disclaimer that I created this, I have been charting my path to being able to retire early. I found it difficult when duplicating tabs to simulate different scenarios and keeping the tabs up-to-date with formula changes. If this speaks to any of you, then consider checking out the tool I made - I have not looked back at my old spreadsheets.
Sample forecast: https://fiers.co/forecast/6020f254b4e8c
Forecast comparison: https://fiers.co/forecasts/compare/6020f254b4e8c/60488472528...
Interesting formulas to take my spreadsheets up a level. For anyone interested, I made a Google Sheets template that I share with my friends. It has been well-received. The crypto section can be ignored for those not involved with that sector. If it's useful, would love to hear your feedback. https://docs.google.com/spreadsheets/d/1qYLOAjzaIIcFLFw_j-P4... Of course, much can be automated using Google Finance and rele…
Okay, now do one for taxes: given a taxable income, and a table representing the tax brackets, calculate the taxes owed in a single formula.
I suspect you could do it with SUMPRODUCT too if the tax table contains sufficient data (e.g. for each band a lump-sum + progressive rate may be necessary) but it may still be an array equation (ctrl-shift-enter when entered, with curly braces displayed around it). I’m not in front of a PC so I can’t try to confirm.
I like XIRR to get an actual sense of what my annualized portfolio performance looks like. Pretty much every bank, brokerage, or financial software I've used is "dumb" and will a) count deposits as growth , b) show total lifetime growth, and/or c) ignore deposits. XIRR allows me to better benchmark portfolio performance by accounting for when I deposit (or withdraw) money so I can clearly say, "I'm earning X% per yea…
I calculate the modified Dietz return for my other accounts too. It's easy enough that unlike IRR you don't need the function to be built in to the spreadsheet software to calculate it.
Okay, now do one for taxes: given a taxable income, and a table representing the tax brackets, calculate the taxes owed in a single formula.
=SUMPRODUCT(
(bracket_minbracket_max)*(bracket_max-bracket_min))
)
*bracket_rate
)
Demo on Google Sheets:
https://docs.google.com/spreadsheets/d/1z0vx8TJeWr-hbJ3q6E7r...