Explore a financial-independence scenario from savings, spending, retirement timing and assumed returns.
FIRE Calculator (Financial Independence, Retire Early)
Form
Results
Saving Percent
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You need to save yearly
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Table of Contents
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What is Financial Independence?
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How to Use This Calculator
- Enter or select Current age, Age of retiring, Current income, Expenses, Current savings. Complete any remaining fields required by your chosen method.
- Check the unit beside each measurement. For a percentage or rate, use the scale and time period stated in the form.
- Choose Calculate, then compare the output with the formula and example below. If you change a value or option, calculate again to update the result.
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Formula Used
Future savings grow by assumed returns and contributions; retirement needs depend on future spending.
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Variables Explained
| Input | What it means |
|---|---|
| Current age | Age in the time unit shown; most adult equations use completed years. |
| Age of retiring | Age in the time unit shown; most adult equations use completed years. |
| Current income | Use the measured or stated value for this item, with the unit or category shown beside the field. |
| Expenses | Use the measured or stated value for this item, with the unit or category shown beside the field. |
| Current savings | Use the measured or stated value for this item, with the unit or category shown beside the field. |
| Savings rate of return | The stated rate or percentage, entered using the scale and time period shown in the form. |
| Salary growth rate | The stated rate or percentage, entered using the scale and time period shown in the form. |
| Your life expectancy | The assumed planning age at the end of the retirement projection, not a prediction of lifespan. |
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Worked Example
Spending of 30,000 a year implies 750,000 at a hypothetical 4% initial withdrawal rate.
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Why Use This Calculator?
Compare the result with the underlying statement, budget or proposed transaction. It is most useful when every amount uses the same reporting period and the same accounting definition.
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Common Mistakes
- A withdrawal-rate rule is an assumption; taxes, inflation and market losses can change the outcome.
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Frequently Asked Questions
Should I use monthly or annual figures?
Use one consistent period for every amount and rate in the relationship. If a form specifies an annual rate or a monthly amount, follow that label rather than mixing time periods.
Does the result include fees and tax?
Only the costs and taxes represented by the inputs and formula are included. A real transaction can include other charges, so compare the estimate with the underlying agreement or statement.
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Sources & References
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