Five minds. One portfolio. Zero noise.
Five minds
A portfolio
Zero noise
Ask in plain language. Elisa puts it in circulation across the team and Cerebro answers with sources, limits and cost. And it gives a verdict, not an «it depends».
History of this desk
Elisa is an artificial intelligence, not a person. Her answers are generated by an AI model.
This is general analysis and not a personalised investment recommendation. The person who invests is the one who decides. The chat may search the internet when the vault does not know the answer (a figure from today, a recent news item); those internet sources nobody has reviewed them and they may be incomplete or wrong, so check them before acting. The five profiles that sign the answers (Elisa, Jorne, Carlos Bárez, Daniel Ferrer, Inés Torres) are specialisms of one single automatic system: they are not people nor registered advisers.
Tools
Note down your positions and watch how they do. Without an account they are stored only in this browser; with an account, they sync across devices.
What leaves your browser
When you ask in the chat, the text of the question and the history of that conversation are sent. If you have saved reading preferences, the vocabulary level and the depth are sent too. Your saved positions they are not attached to the chat; the portfolio and the scenarios use them in their own sections. That is why answers are general and not personalised: Cerebro is not financial advice. Avoid writing personal or financial data that is not needed. The securities search sends the search text and price queries send the symbols. See the privacy policy to find out which providers there are and what else is used.With your session signed in, positions are are stored in your account: they sync across devices and are deleted with the account. Type the name or the ticker and pick from the list so we know exactly which security it is and which exchange it trades on.
Load portfolio from text
One position per line: TICKER [shares] [price]. The comma works as a decimal point. Repeating a ticker updates it.
Your portfolio starts with one position. Add a security at the top and, if you want, the shares and the entry price.
Scenarios
Two hypothetical accounts with the assumptions you set. They do not predict the market nor rely on your portfolio: they show what what you type implies. If a figure is missing, the screen says: n/a and why. Never a zero that can be read as data.
Search by title or subject; not inside the notes.
Saving and planning
Financial independence
How much capital you need to live off what it produces, and how many years separate your starting point from that goal.
What it does
It divides the annual spending by the withdrawal percentage you set and the target capital comes out. With a 4 % withdrawal, that is the rule of multiplying by 25. The withdrawal rate and the real return are two assumptions that whoever uses the calculator types and can change at any time: they are not a forecast, not a recommendation, and they do not guarantee that the capital will hold up. It then simulates the capital year by year, with a constant real return and the annual savings added at the end of each year, until it reaches that goal or until one hundred years have passed.
Key concepts
- Withdrawal rate: the percentage of the capital that is expected to be withdrawn each year. Here the calculator takes it as fixed throughout the projection, not as a withdrawal policy that adjusts year by year. Adjusting it would require a far more complex model.
- Target capital: annual spending divided by the withdrawal rate. It is a division, not a forecast: with 24.000 € a year and a 4 % withdrawal, 600.000 € are needed.
- Real return: the return adjusted for inflation. It is the figure that fits with an annual spending expressed in euros of a specific year, because prices change too.
- Annual savings: what is added to the capital at the close of each year. It is assumed to be what is left after living, so it enters once the year's spending has been covered.
- 25 rule: the 4 % rate read backwards, multiplied by 25. It is not a law: it is the arithmetic consequence of that figure and nothing else.
Frequently asked questions
How is the capital needed calculated?
By dividing the annual spending by the withdrawal rate expressed as a percentage. With 24.000 € of annual spending and a 4 % withdrawal, the target is 600.000 €. With a 3 % withdrawal, the same spending would require 800.000 €.
How many years are simulated?
Up to one hundred. If the capital does not reach the target in that period, the calculator says so with the label "Not reached in 100 years" instead of showing a large number that corresponds to no real year. A longer horizon would give a different answer, but it is not a figure this account can assume.
Why does the withdrawal have a minimum of 0,1 %?
Because below that value the target explodes into figures no plan could ever reach and the answer would lose its meaning. The lower limit is declared in the input itself, so that the sheet the person sees and the account's validation cannot come apart.
What happens if you already have the target capital?
The result is zero years. The account distinguishes between having already got there and not having got there yet, and in the first case it does not invent a waiting period that does not exist.
Does the annual savings go in before or after the return?
After. The capital for a year is the previous year's multiplied by the return factor, plus the savings. That is the convention of a real plan: you contribute what is left after having lived, not before.
Can the withdrawal be changed over the years?
Not with this calculator. The rate is a constant figure throughout the projection, and that simplification is what allows the account to be checked with a single division. A model with variable withdrawals would additionally have to decide where each euro of the withdrawal comes from, which is the hard part.
What limits do the fields accept?
Annual spending runs from 0 to 1.000.000 €, the withdrawal from 0,1 % to 20 %, current capital from 0 to 50.000.000 €, annual savings from 0 to 1.000.000 € and the real return from −20 % to 20 %. An empty field does not equal zero: the calculator cannot know whether it was left blank or a 0 was typed.
Related calculators
Emergency fund
How much money the months of expenses you choose to keep set aside come to, and how much is left to complete them. Free and with no sign-up.
Compound interest with inflation
What a savings plan with a monthly contribution will be worth in a few years, in nominal euros and in today's euros. Free and with no sign-up.
Savings goal: how much to contribute each month
The monthly contribution needed to reach a savings goal within a given period. Free and with no sign-up.
Your account
Your portfolio and your saved notes, also on your other devices. Without an account you can keep using the portfolio in this browser. When you delete your account, the associated data is deleted too.
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Adjust how we explain it to you
Two optional questions: your vocabulary level and your preferred depth. They are used to adapt the explanation. We do not ask about amounts of money and we do not run a suitability assessment. The answers are generated by the system and may contain errors; these preferences do not guarantee that the result is identical in every case.