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FIRE Calculator - Calculate Early Retirement

FIRE Calculator — Financial Independence, Retire Early

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You’re on FIRE! Financial Independence, Retire Early — WTH?
What is FIRE?
FIRE Benefits
FIRE Discipline
How to use the FIRE Calculator

You’re on FIRE! Financial Independence, Retire Early — WTH?

What is FIRE?

If you're tired of the 9-5 grind and dream of retiring early, you're not alone. Many people are turning to the concept of financial independence and retiring early, also known as FIRE. You can achieve your goals faster, and the first step is calculating how to get there.

FIRE Benefits

But why is retiring early such a desirable goal? For starters, it allows you to have more control over your time and how you spend it. No more commuting to a job you don't love and being stuck in a cubicle all day. Instead, you can travel, spend more time with loved ones, or pursue hobbies and passions that you may have had to put on hold while working full-time. In addition to the lifestyle benefits, retiring early can also have financial benefits. By saving and investing aggressively, you can reach financial independence and retire earlier than traditional retirement age. This means you'll have more time to let your investments grow and potentially increase your wealth. But how do you actually achieve financial independence and retire early? It all comes down to maximizing your savings and investing wisely. This may involve cutting expenses, increasing your income, or both. You'll also need to have a clear understanding of how much you'll need to save in order to reach your retirement goals.

FIRE Discipline

One thing to keep in mind is that retiring early isn't for everyone. It requires a lot of discipline and sacrifice, and you'll need to be comfortable with taking on some level of investment risk. But for those who are up for the challenge, the rewards of retiring early can be well worth it. So if you're ready to say goodbye to the 9-5 and hello to an early retirement, it's time to start planning and working towards your financial independence. Just remember to have fun and enjoy the journey, because after all, that's what retirement is all about.

How to use the FIRE Calculator

If you're considering early retirement, you're probably wondering how much you need to save to achieve your goals. Our FIRE calculator can help you figure out exactly how much you need to put away. Simply enter your desired retirement age, current savings, annual income, and expected rate of return on your investments. Then, adjust the numbers to see how different saving and investing strategies can impact your retirement plans. With our calculator, you can explore the potential impact of changes to your lifestyle, income, and investment returns on your ability to retire early. So take a moment to crunch the numbers and see what you need to do to achieve your dream of an early retirement.
Use the calculator to determine what you need to achieve financial independence and retire early (FIRE)
  • Input your current age, after-tax annual income, yearly expenses, investment portfolio amount, yearly contributions to investments, and expected rate of return on investments.
  • Also input your current savings account balance, savings rate of return, and percentage of income contributed to savings.
  • Enter your estimated retirement expenses, including taxes.
  • Hit "Calculate" to see your FIRE goal and age.
  • The calculator will show you how much money you need to maintain your current standard of living in retirement and the age you can expect to reach financial independence.
    John Cruz
    Article author
    John Cruz
    John is a PhD student with a passion to mathematics and education. In his freetime John likes to go hiking and bicycling.
    FIRE Calculator - Calculate Early Retirement English
    Published: Sun Jan 08 2023
    In category Financial calculators
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