Financial Calculator MVP

Minimum Viable Product (MVP)

The goal of the MVP is to create a working version of the calculator that allows users to input and adjust variables directly. Here are the core components to focus on:

1. Core Functionality:

   • Input Form: Build a simple, clean form where users can input key variables, such as:
     • Current savings (taxable and retirement accounts)
     • Monthly/Annual savings contributions
     • Expected investment rate of return
     • Desired retirement age
     • Estimated annual spending in retirement
     • Life expectancy
     • Withdrawal rate (4%, 5%, etc.)
   • Backend Logic: Implement the core calculations for:
     • Projecting portfolio growth (considering savings and returns)
     • Calculating how long savings will last given spending rates
     • Determining whether retirement goals are achievable with the given variables

2. User Interface:

   • Keep the UI minimal and focused:
     • Form: Use Django and Tailwind to create an intuitive form layout.
     • Results Section: Display results in a simple, easy-to-read format, such as:
       • Projected retirement age
       • How long the savings will last
       • Graph showing the balance over time (consider using a lightweight graphing library like Chart.js)

3. Graphing and Visualization:

   • Graphs for Visualization: Add basic graphs to visually show:
     • Portfolio growth over time
     • Withdrawals versus spending
   • Consider using Chart.js or Plotly for graphing, as these are lightweight and work well with Django.

4. Basic Styling and Interactivity:

   • Use Tailwind CSS for a responsive layout.
   • Use Alpine.js for light interactive features, such as adjusting withdrawal rates dynamically and updating calculations without a page refresh.
   • Anime.js could be used sparingly to make the transitions or interactions feel smooth.

5. Testing and Validation:

   • Focus on accuracy in the calculations.
   • Ensure the form handles different types of inputs (e.g., zero values, negative values, incorrect formats).

Future Add-ons (After MVP)

Once the core calculator is working well, you can enhance it with additional features to improve user experience and make it more educational.

1. Guided User Setup (Educational Version):

   • User Goals Prompt: Start with a series of prompts to ask users what their retirement goals are (e.g., early retirement, comfortable lifestyle).
   • Step-by-Step Form: Break down inputs into smaller, more manageable questions, each with explanations.
   • Interactive Explanations: Add tooltips, popovers, or even small info videos for users to understand each variable (using Alpine.js for interactivity).
   • Examples and Pre-filled Data: Provide examples with pre-filled values to make it easier for beginners.

2. Advanced Graphing and Scenario Analysis:

   • Scenario Comparison: Allow users to compare different scenarios side-by-side (e.g., different retirement ages, savings rates).
   • Monte Carlo Simulation: If you want to get advanced, add a Monte Carlo simulation to show the probability of success for various withdrawal strategies. This could be implemented with Python libraries like NumPy and visualized using Plotly.

3. Save User Data and Profiles:

   • Let users save their data and scenarios for future reference. Implement a login system (using Django’s authentication system).
   • Dashboard: Create a dashboard where users can see their saved scenarios and track progress.

4. Mobile Responsiveness and UX Enhancements:

   • Ensure the calculator is mobile-friendly, as many users may access it on the go.
   • Use Anime.js for subtle animations that make the interface more engaging without being overwhelming.

5. Incorporate Educational Resources:

   • After users get their results, link them to relevant educational resources, like articles or videos on improving savings, optimizing tax strategies, or understanding investments.

6. Risk Assessment and Personalization:

   • Implement a risk assessment feature to gauge the user's risk tolerance and suggest appropriate rates of return.
   • Provide customized recommendations based on user inputs (e.g., if they want high spending in retirement, suggest increased savings).

Suggested Implementation Plan

1. Phase 1: Core Calculator (MVP):

   • Implement the form to gather necessary inputs.
   • Write the backend logic for retirement calculations.
   • Display results in a basic text and graphical form.

2. Phase 2: Add Visualization and Interactivity:

   • Integrate graphs to show portfolio growth, withdrawals, etc.
   • Add interactivity (using Alpine.js) to make the calculator more engaging.

3. Phase 3: Guided User Setup and Educational Flow:

   • Create the beginner-friendly version with prompts.
   • Add educational content alongside input fields.

4. Phase 4: Advanced Features and Scenario Analysis:

   • Implement advanced features like scenario comparisons and Monte Carlo simulations.
   • Add a user profile and save/load functionality.

5. Phase 5: Deployment and User Testing:

   • Deploy the application to gather user feedback.
   • Conduct usability testing to ensure both the advanced and educational versions meet user needs.

Tooling Considerations

• Graphing: Chart.js is lightweight, easy to integrate, and a good starting point for simple graphs. If you want more advanced graphing capabilities, Plotly can be an option later.
• Backend Calculations: Use Python’s numerical libraries (like NumPy) for efficient calculations.
• Styling: You’re already using Tailwind, which is great for maintaining a clean and responsive UI.
• Interactivity: Alpine.js is perfect for keeping things lightweight while allowing interactivity.

Your current approach of starting with the advanced calculator is well thought out, as it will ensure the core functionality is robust before moving into more guided, user-friendly features. Once you have confidence in the calculations, expanding to include educational aspects will make the tool more approachable for all users.