Financial Freedom Calculator:
Next Step After Paying Off Debts

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"Thar's gold in them there bills!" How your debt payments can be transformed into wealth.

This online, financial freedom Calculator will calculate how long it will take to become financially free after becoming debt-free.

The idea behind this calculator is that once you manage to pay off all of your debts, including your mortgage, you will then be able to start investing the total of your freed-up debt payments, plus any additional funds you were applying to your debt repayment plan.

This is where you turn the tables on corporations who've been getting rich off of your interest payments. Instead of you being their investment vehicle, they now become your investment vehicles!

But before you use the calculator you will first need to calculate your total debt payments and estimated debt freedom date. Both of these figures can be arrived at by using either the Rapid Debt Reduction Calculator (for 10 or fewer debts) or the more comprehensive Get Out of Debt Calculator (for any number of debts, plus 60 booster rocket options). In both cases, be sure to include your mortgage in your repayment plan to get the maximum effect.

With that, let's use the financial freedom calculator to see how long it will take to become financially free after you manage to pay off the last of your debts and begin to invest the freed-up payments.

From Debt to Financial Freedom Calculator
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Instructions: Select the month and year your rapid debt repayment plan says you will be debt free.

Next enter the total of your monthly debt payments, the total of your current savings and investments, and the annual percentage you expect to earn on your investments.

Finally, enter how much monthly investment income you need to become financially free, and your current age, then click the "Calculate Financial Freedom Schedule" button.

Mouse over the blue question marks for a further explanation of each entry field. More in-depth explanations can be found in the glossary of terms located beneath the Debt to Financial Freedom Calculator.

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Help Debt freedom month and year:
Help Total of all current monthly debt payments ($):
Help Current savings and investments ($):
Help Percentage return on investments (%):
Help Monthly income needed for financial freedom ($):
Help Current age (#):
Help Months till financial freedom:
Help Years till financial freedom:
Help Age when will become financially free:
Help Financial Freedom date:
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Financial Freedom Calculator Glossary of Terms

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Debt freedom month and year: The month and year that all of your debts will be paid off. This date can be arrived at by using the Rapid Debt Reduction Calculator (for 10 or fewer debts) or the more comprehensive Get Out of Debt Calculator.

Total of all current monthly debt payments: The total of all monthly debt payments. This figure can be arrived at by using the Rapid Debt Reduction Calculator (for 10 or fewer debts) or the more comprehensive Get Out of Debt Calculator.

Current savings and investments: The total of all current savings and investment accounts. Leave blank or enter a zero if you have no current savings or investments.

Percentage return on investments: The annual percentage you would expect to earn on your savings and investments. Enter as a percentage (for .065, enter 6.5%).

Monthly income needed for financial freedom: The monthly income you would need in order to become financially free. Be sure to include amounts for inflation and income taxes. Also keep in mind that you will be debt free, so none of your monthly interest earnings will need to go toward making debt payments.

Current age: Your current age.

Months till financial freedom: Based on your entries, this is how many months it will take you to become financially free after becoming debt free.

Years till financial freedom: Based on your entries, this is how many years it will take you to become financially free after becoming debt free.

Age when will become financially free: Based on your entries, this is the approximate age you will be when you become financially free.

Financial Freedom date: Based on your entries, this will be the month and year when you become financially free.

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