Ready to escape the daily grind? Our Early Retirement Calculator helps you plan your journey to financial independence (FIRE). Input your current financials to estimate your ideal retirement age and savings goal. Optimize your path by adjusting savings, contributions, and investment returns to retire sooner and live life on your own terms!
Formula:
To determine your early retirement age, we first calculate your Financial Independence Number (FIN): this is the total savings needed to cover your Annual Expenses based on your Safe Withdrawal Rate (SWR). FIN = Annual Expenses / (SWR / 100)
We then project how many years it will take to reach your FIN, considering your Current Savings, Annual Savings Contribution, and Expected Annual Investment Growth Rate (after inflation) to estimate your retirement age.