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Ultimate Financial Independence Calculator

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FIRE Calculator

A question that is often asked is “When Can I Retire?” and “How Early Can I Retire?” The most important factor in answering these questions is your savings rate. The higher your savings rate, the sooner you can reach financial independence based on your current spending. We’ve created a FIRE Calculator to help you figure out the answer to that question.

If you’re seeking early retirement we’ll help you calculate the retirement savings amount you need. That way, after retirement, you won’t run out of money.

Want to learn more about FIRE (Financial Independence Retire Early)? Check out our free FIRE Guide.

Want to learn how to use our FIRE calc most effectively? Check out the video below.

Want to calculate your FIRE target number? Check out our FIRE Calculator below!

Can you retire early in the next 10 years?

When your Able to Draw exceeds your Desired Income you are financially independent and have achieved financial freedom.

Fire Calculator

Person 1

Current Annual Income:
Enter your current annual income.
Annual Savings Percentage
Enter the % of your salary you’re currently saving for retirement each year. Pre tax / tax deferred assumed. How much are you investing into your retirement accounts?
Employer Match
Enter the % of your salary your employer matches each year
Portfolio Value:
Enter your current portfolio amount in dollar amounts. This would be your nest egg current value.
Pay Increase
Enter your expected annual pay increase percentage.

Person 2

Current Annual Income:
Enter your current annual income.
Annual Savings Percentage
Enter the % of your salary you’re currently saving for retirement each year. Pre tax / tax deferred assumed. How much are you investing into your retirement accounts?
Employer Match
Enter the % of your salary your employer matches each year
Portfolio Value:
Enter your current portfolio amount in dollar amounts. This would be your nest egg current value.
Pay Increase
Enter your expected annual pay increase percentage

Additional Data

Annual Return
Enter a return rate that you expect your investments to earn over time
Inflation Rate
Enter a value to account for inflation each year
Desired Withdrawal Rate
Enter your desired withdrawal rate. (LeanFI ~5%, FI ~4%, FatFI ~3%). This does not take into consideration any annuity or annuities you may have, pension, real estate, defined benefit plans or social security benefits. Your retirement plan for withdrawals should allow for some cushion.
% of Current Income Needed in Retirement:
Enter the % of your current income (today’s dollars) needed in retirement, we account for inflation for you. We'll also make sure your retirement savings plan meets this need.

Savings Rate

saving rate data

Gross Savings ÷ Gross Income

FI Target Amount

combinedPortfolio

Based on current input

Years Until FI

number of rows

Based on current savings rate

Portfolio Value:
Your Contributions:
Interest Earned:

Yearly Breakdown

Share Your Results

The earlier your retirement age, the lower your withdraw rate should be. This means your investments will have a higher likelihood of lasting longer without running out. Want to learn more about the math behind FIRE? See how retiring early is possible.

Want to better understand if you should be investing your money pre-tax in a Traditional IRA vs a Roth IRA? Check out the investing chapter of our FIRE Guide.

Retirement planning can be stressful, confusing and difficult. Everyone will formulate their own retirement strategy. Whether you utilize a financial advisor or self manage your investments, understand the opportunity cost associated with your decisions. It’s important that your investment plan takes into consideration other costs such as college savings, additional living expenses you may require including care costs, and other unexpected annual expenses.

Reducing your current annual expenses can only lower your retirement age so far. Those seeking early retirement should also consider how many years they expect to live, and ensure their withdrawal rate allows them to not run out of money.

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    Notes & Assumptions: Your FIRE number is not your net worth number. We ignore what your current age is, and calculate number of years to achieve financial independence instead, based on your expected returns. If you need less money than the table represents for future projections, adjust your number accordingly. We do not account for pre vs post tax savings. We don’t know what the tax rates will be in the future. Annual Returns vary. This retirement calculator is not intended to be investment advice. Expected investment return amounts may vary. To visualize your expected return over time consider running a monte carlo simulation retirement calculator, such as Portfolio Visualizer. How much money you need for compound interest to give you the growth rate you need for the best FIRE scenario will depend on your retirement expenses. When planning for retirement, it’s important to understand all of your retirement benefits not just your retirement income. Early retirees may not have access to all of the same benefits as those reaching a traditional retirement age. Life expectancy, pension benefits, passive income, and health status are all important factors to also consider. This early retirement calculator was created by How To FIRE.
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