This FIRE calculator is meant to give you a quick and easy way to determine exactly where you’re at on your journey to financial independence. This is a useful tool, but it’s not meant to give advice, or to replace a financial professional.
How to use the FIRE Calculator
The FIRE calculator is pretty straightforward. Simply enter your details into the fields below, select your age as of today, and watch the results get updated in real time.
About the Math behind the FIRE calculator
FIRE is based on two financial rules of thumb, the Rule of 25 helps you determine exactly how much money you'll need to have invested before you can retire. You can read more about the Rule of 25 if you're interested in determining how we calculate your FIRE number.
The other rule of thumb we use is called the 4% Rule, often called the Safe Withdrawl Rate. The 4 Percent Rule helps you determine exactly how much of your retirement portfolio you can spend annually without ever running out of money. We use this math to determine your safe withdrawl rate.
FIRE Calculator Assumptions
By default we use a 7% annual growth rate and a 3% annual inflation rate because those are historical averages. While historical numbers don't guarantee future performance, it is a good place to start. We designed this FIRE calculator so that you can adjust all numbers however you'd like.
Adjusting Your Own Numbers
The two surest ways for you to speed up your time to achieve financial independence is by earning more money, or by spending less money.
Camp FIRE Finance is full of how-to articles and personal stories of others that have earned more money. I encourage you to use the search boxes at the top and bottom of this website to search for ways to make more money.
Spending less money is far more straightforward. And it begins by creating a budget and tracking your spending. I use and recommend Personal Capital to do both. This 100% free wealth management tool categorizes your spending, allowing you to easily identify areas where you can make improvements.
Thank you for using this FIRE calculator. I hope you found it useful.