For a direct access to this Shiny application, click here
This README file is the supporting documentation accompagning this Shiny application. It includes three parts:
- Instructions given for this project
- Description of this Shiny application
- Directives on how to visualize this Shiny application
- Write a shiny application with associated supporting documentation. The documentation should be thought of as whatever a user will need to get started using your application.
- Deploy the application on Rstudio's shiny server.
- Share the application link by pasting it into the text box below.
- Share your server.R and ui.R code on github.
The application must include the following:
- Some form of input (widget: textbox, radio button, checkbox, ...).
- Some operation on the ui input in sever.R.
- Some reactive output displayed as a result of server calculations.
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The Shiny application in question is entirely up to you. However, if you're having trouble coming up with ideas, you could start from the simple prediction algorithm done in class and build a new algorithm on one of the R datasets packages. Please make the package simple for the end user, so that they don't need a lot of your prerequisite knowledge to evaluate your application. You should emphasize a simple project given the short time frame.
This Shiny application ('time2retire') acquires input values from the user to calculate simulations for a variety of retirement scenarios. My motivation to work on this app was a visit to a financial planner, who, based on a number of inputs came up with a single curve on a graph representing resources during retirement. With these same inputs, time2retire outputs a number of linegraphs representing scenarios impacted by random fluctuations in interest rate, inflation rate, volatility. Try the app and you can see that the same inputs can result in a vastly different scenarios over time.
time2retire contains 18 sliders controlling the values: age.now current age in years years.wait number of years before beginning retirement n.obs length of projection (time period observing) n.sims number of simulations social.security monthly social security income ss.start age to start collecting social security payments annual.inflation impact of inflation annual.inf.std.dev fluctuations in inflation liquid.n401Ks assets available total.pension pension lump sum distribution number.increments number of pension distributions capital.contribs annual pre-retirement contributions to pot of money years.contributing number of years adding to the pot annual.mean.return investment return percentage annual.ret.std.dev volatility in investment return percentage annual.inflation projected inflation annual.inf.std.dev volatiity in projected inflation monthly.withdrawals capital withdrawals, dollars per month
DISCLAIMER: I did not write the original app. The idea and original code is by Pierre Chretien, updated by Michael Kapler. I expanded their concept of using matrices populated with random numbers to generate multiple simulations comprising capital inputs/outputs, and random fluctuations in inflation, interest, etc.
DISCLAIMER: I am not a financial planner, financial adivsor, or financial wizard. Do not make financial decisions based on the information provided by this app.
This Shiny application displays a series of line graphs illustrating various financial scenarios for retirement, based on capital assets and expenditures, impact of projected inflation/interest and fluctuations thereof. It might be nice to expand this program so that it is responsive in the graphing area, to be able to add points of capital outlays/inputs by clicking on the plot of linegraphs
Option 1: Direct link: click here
Option 2: Download the server.R and ui.R files and place them in a directory named 'time2retire'. Open an R session and set the working directory to the folder that contains the directory 'time2retire'. Then run the following commands:
library(shiny)
runApp('time2retire')